The Bank of Guizhou recently issued the first batch of technology innovation credit loans through the "Science Innovation Loan" technology financial product. Two technology-based enterprises in Guiyang Economic and Technological Development Zone (GETDZ) each received 3 million yuan (464,356.32) in loan support.
The two enterprises are Guizhou Hoph Strove Tools Manufacture Co and Guizhou Anji Huayuan Science and Technology Development Co.
To solve the problems of difficult and expensive financing for science and technology enterprises in GETDZ, the zone's science and technology and entrepreneurship service center has established an objective and comprehensive evaluation system for enterprises. The evaluation system looks at three aspects: innovation foundation, innovation input and innovation output.
The enterprise science and technology innovation index and the "white list" of enterprises in the science and technology innovation index have been established. They will provide credit support for technology financing.
The "Science Innovation Loan" technology financial product is under development by GETDZ's science and technology and entrepreneurship service center and finance bureau, the Bank of Guizhou and Guizhou Inko Inping Industrial Finance Development Co.
It implements unsecured and uncovered technology innovation credit loans to "white list" companies and their suppliers.
It took only seven days for the two companies in GETDZ to complete the application and approval process of the loan materials compared to the usual 15-20 working days.
Moving forward, GETDZ's science and technology and entrepreneurship service center will continue to improve its technological innovation policy to guide the independent innovation of technological enterprises in the zone.