The Guiyang Economic and Technological Development Zone in Guiyang city signed cooperation agreement with a bank and guarantee companies on Sept 11 -- aiming to provide one-stop financial services such as loans, venture capital and intermediary services for businesses locating there.
The GETDZ in the capital city of southwestern Guizhou province and two guarantee companies inked the accord on loan assistance for micro, small and medium-sized enterprises -- or MSMEs -- according to local media reports.
At the same time, policy loan products for MSMEs have been launched, aiming to provide more accessible funding services for enterprises by tackling red tape with the government, the banks and guarantee companies.
In addition, the GETDZ will work with the Bank of Guiyang to establish an emergency lending risk funding pool of 50 million yuan ($7.11 million).
This will provide working capital loans and short-term revolving funds for MSMEs that are registered in the GETDZ -- those with good production and operating conditions and with no serious or bad credit record.