The First Small Loan Company in Taizhou City Was Established

[2008-12-23 16:55:42]

The First Small Loan Company in Taizhou City Was Established
	2008-11-28

??Linya Small Loan Co., Ltd. mainly supports fund demands of local small and medium enterprises (SMEs), "agriculture, peasants and rural areas", and natural persons for their business start and development as well as temporary circulation. According to the loan types with different industries and different periods, we implement differential interest rate management, which does not surpass the upper limit prescribed by judicial administration and is not lower than 0.9 time of the loan ruling rate of interest released by the People's Bank of China.?? As introduced by Lin Dexing, a staff of Linya Small Loan Co., Ltd., on relevant contents of their loan business Yu Heping, Chairman of Linya Small Loan Co., Ltd., told the reporter that Taizhou SMEs have only single channel of financing for diffused fund demands, and most of them only apply for loans through banks or non-governmental institutions, so the financing cost is relatively high; especially this year the whole world has suffered financial crises, which makes it even more difficult to apply for loans for SMEs. It is learned that the registered capital of Linya Small Loan Co., Ltd. is RMB200 million Yuan. It implements relevant regulations concerning small loan companies by the People's Bank of China, CBRC and the Provincial Financial Services Office and is specialized in lending loans about RMB500,000 Yuan to SMEs or industries of "agriculture, peasants and rural areas". The lending procedure is approximately as the same as the banks, but the formalities are more simple; the guarantees are more flexible and the threshold is lower with lending time for 2 or 3 days at most. Currently, more than 80 units in Linhai City have reached intentions with Linya Small Loan Co., Ltd. Source: Taizhou Municipal Foreign Trade and Economic Cooperation Bureau (All information published in this website is authentic in Chinese. English is provided for reference only. )

Source: 浙江省对外贸易经济合作厅

Keywords:Foreign Exchange

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