TechFin boosts SMEs in Beilun
- Category: Ningbo District
- Published: Thursday, 28 March 2019 08:12
"The TechFin loans can really help to solve our pressing problems." said a person in charge of the financial affairs of the Dazhi Machine Technology upon the bank’s approval of its application for an unsecured and unguaranteed loan of four million yuan. "The loan is quite timely as we are about to purchase new equipment and develop new products." said the same person.
The combination of technology and finance has boosted an increasing number of small and medium-sized enterprises in Beilun District. In 2016, the district launched the TechFin program, setting up the "TechFin risk pool" and the government-backed unsecured and unguaranteed credit loan mechanism, to support the development of the technological SMEs. Statistics show that by February 2019, the risk pool had released 56 TechFin loans, with the total value of about 150 million yuan.
In their starting period, the technological SMEs all may come across the lack of capital, collateral and guarantee. So it has become the key of the technology-driven economic transformation of the technological enterprises in Beilun District to effectively make use of the financial inputs in technology, guide the social capital to the technological enterprises and alleviate the financing difficulties of the technological enterprises.
"All the identified high-tech SMEs, innovative start-up SMEs and the technological incubator SMEs that have registered in Beilun District are entitled to the application of this kind of loans." said a person in charge for the Science and Technology Bureau of Beilun District. The risk pool has a fund of 10 million yuan, and with the 10-time leverage effect, it can provide a total credit loan of 100 million yuan for the technological SMEs per year.
With the financial support, a group of technological SMEs with high added value and high technological content have accelerated their pace of economic transformation. In 2017, the Lanrun Energy Technology received a technological loan of four million yuan. With the loan, the company started a lab with Zhejiang University of Science & Technology for technological research and development. With the in-depth integration of production and research, the company has actively carried out the “blue ocean” strategy for the automotive aftermarket, and with its products in such fields as petrol for motor vehicles, petrol for ships, industrial oil and lubricating grease, it is able to provide customized services for numerous well-known enterprises.
According to statistics, in 2018, Beilun District ranked among the top in terms of newly added number of the provincial technological SMEs (164) and that of the provincial high-growth technological SMEs (30), covering such regional featured industries as auto parts, intelligent equipment, new materials and molding