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Zhenhai cracks SME’s financing difficulties

In the afternoon of April 10, the staff of Zhenhai Rural Commercial Bank returned a visit to Ju Shanping, the manager of Ningbo Juzheng Cookware Co., Ltd.. Ju said, “I just scanned the QR and filled in the information. Here come the financing services. It provided timely help!” The company is recently developing the whole house customization market and has suffered cash flow difficulties. Ju tried to apply for the SME financing platform launched by Zhenhai Rural Commercial Bank, and in a week, the 9-million-yuan credit loan arrived.

Zhenhai District launched some financing services in the early March, helping enterprises resume production.

The officer of Zhenhai Financial Development Service Center said, “Enterprises have needs for financing, but do not understand financial policies and products; banks have credit lines, but they do not know the needs of the enterprise.” Despite increased financial support for SME, asymmetric information still restricts the implementation of the policy.

To solve the problem, Zhenhai government took the initiative to build a bridge. In early March, Zhenhai decided to develop a SME financing platform where enterprises can release financing needs and banks can also be informed of the needs. After development and debugging, the SME financing platform has gone online on March 20. “The enterprise fills in the information and the need, and the application is finished,” said the officer of Zhenhai Financial Development Service Center, “Through the platform, enterprises can obtain credit through mortgage or apply for pure credit loans.” At present, the platform has attracted 22 Banks in zhenhai.

So far, more than 50 enterprises have published their financing needs on the platform,14 have achieved financing cooperation with banks, and another 18 are in the process of negotiation, with the docking rate of 100%

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