In order to increase support for small and micro-sized enterprises and to promote the sustainable and healthy development of the local economy, the business development service center of the Guiyang Economic and Technological Development Zone (GETDZ) has taken action, according to GETDZ officials.
They said that the GETDZ -- located in Guiyang, capital of China's Southwestern Guizhou province -- has strengthened support for business guaranteed loans. This is to further meet the financial needs of small and micro-sized enterprises during the novel coronavirus epidemic. They added that the zone has made every effort to help these enterprises to tide over any difficulties and steadily resume their operations and production.
The increased support includes:
1. Strengthened procedures and standardize management.
The zone has established and improved its handling system for business loans and implemented a one-stop service mechanism. The handling process and time limits for policy consultations, application acceptances, pre-loan inspections, guaranteed loans, loan issuances and post loan management are further clarified and the preliminary examination and review system has been streamlined.
2. Risk prevention and control.
The zone has created a credit file through the borrower's marriage status certificate, personal credit reference certificate, enterprise credit rating report, etc., to prevent risks. At the same time, internal verifications and supervision have been strengthened.
3. Post loan supervision.
The zone has established a four-level post-loan supervision mechanism for secured loan projects -- and strengthened post-loan supervision by means of return telephone calls, door-to-door inspections, checking of overdue interest and collecting financial statements.
4. Fund management.
The zone is strictly implementing its current financial management system. It establishes a special account, storage in designated account, special fund for designated use and closed operations for the guarantee.