The science and technology and entrepreneurship service center of the Guiyang Economic and Technological Development Zone (GETDZ) recently visited three companies in its jurisdiction to learn more about the discounts they are receiving on the interest added to their entrepreneurship guarantee loans.
The three companies were Guizhou Mingteng Technology Co, Guizhou Zhenxiang Technology Co, and Guiyang Yongxing Machinery Co.
They are all aerospace enterprises supporting the production of precision parts and components.
With the substantial increase in product orders, the companies need to add new equipment and purchase more raw materials, but they were struggling with insufficient working capital and high financing costs.
To this end, GETDZ's science and technology and entrepreneurship service center actively contacted banks to help them apply for loans.
So far, the three companies have received a total of 4.49 million yuan ($625,988.58) in loans, and have benefited from discount support in line with the entrepreneurial guarantee loan policy.