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Shandong guarantees loans for small and micro businesses

2019/5/9 16:50:41   source:sdchina.com

According to the news conference held today morning, Shandong provincial department of industry and information technology has implemented the incentive and subsidy policy on rate of deposit to promote the action on fostering private and small and micro for getting their first loans. Therefore the province provides earmarked fund as subsidies for the guarantee business for each small and micro enterprise with guarantee loans of no more than 10 million yuan and guarantee fee of no more than two percent.

“The provincial department has launched the policy of loan risk compensation for provincial small and micro enterprises,” said Zhang Dengfang, the director of policy research division of the department of industry and information technology. “The department will compensate 30 percent of bank loan principal for over non-performing loans by micro and small enterprises with loan issued by bank for each company of no more than 10 million yuan and interest rate rising by no more than 50 percent.”

In addition, the department released supportive policies of emergency on-lending and relending to give full play to the guiding role of provincial-level enterprises in allocating funds for emergency on-lending, build a provincial system of emergency on-lending, provide emergency on-lending service for private and small and micro enterprises, and foster a sound environment of fiscal guidance, bank support and enterprise development.

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Sponsor:Information Office of Shandong Provincial People’s Government