Qingzhen loans over 54m yuan to support entrepreneurship

Qingzhen city -- located in southwestern Guizhou province -- provided entrepreneurship loans of more than 54 million yuan ($7.85 million) for 314 entrepreneurs and offered jobs to 663 individuals in 2019, according to local officials.

They said last year had the most loan applications and disbursements since the county-level city enacted policies of entrepreneur funding, with 318 loans of 58.71 million yuan audited and 277 loans of 54.52 million yuan actually lent out.

Last year, Qingzhen city's small loan guarantee center included an entrepreneurial assistance credit loan program called Chuangbangdai in its social credit system to better ensure its operation. 

A total of 100 entrepreneurs received loans of 8.72 million yuan through the program in the past year. 

Officials said that to improve the financing environment and provide help for small and micro-sized enterprises, the center reached agreement with Qingzhen Rural Commercial Bank to provide small and micro-sized enterprise entrepreneurship loans.

With simplified procedure of applying for entrepreneurship loans and discounted loans, Qingzhen supported 23 such enterprises with discounted loans of 11.7 million yuan through the partnership last year.