Quanzhou Shoe Enterprises Build Guarantee Corporation To Solve Financing Problems

Since this year, under the influence of internal and external factors such as tight money and rising costs, capital shortage has become a bottleneck for many small and medium-sized enterprises.

Last Friday, the Company limited by guarantee of Jinjiang was established by a number of private enterprises in Jinjiang. It established a new channel for financing guarantee for many small and medium-sized enterprises.

Insiders also see the recent trend of Quanzhou private enterprises' capital.

The newly established Guarantee Corporation in Jinjiang was invested by the seven wolves as the sponsor of the Limited by Share Ltd. Jinjiang state-owned assets investment and Operation Co., Ltd. as a major shareholder, 2 companies, such as Hang Lung Building Materials Co., Ltd., 100 letter Machinery Manufacturing Co., Ltd., and the first registered capital of 99 million 990 thousand yuan, is the first large scale small and medium-sized enterprise Credit Guarantee Corporation in Jinjiang.

At the establishment of the event, the Guarantee Corporation signed a cooperation agreement with the Bank of China Jinjiang branch, CCB Jinjiang sub branch, Jinjiang rural cooperative bank, Jinjiang branch of Quanzhou commercial bank, etc., and issued guarantee documents for 3 first guaranteed loan companies, such as Hollywood food, Xinchang textile and Himalayan company.

Chen Xinwei, executive vice president of seven wolf investment company and chairman of Jinjiang Guarantee Corporation, said that after the Guarantee Corporation was formally put into operation, it will focus on serving the development of small and medium-sized enterprises. At present, a professional operation team is being set up, and an experienced investment company executive will be invited from Beijing to be executive vice president.

"According to 1: 10, the loan size of 100 million yuan capital is 1 billion yuan."

Chen Xinwei said that with the expansion of the company's guarantee business in the future, the size of the fund will be further expanded. After the Guarantee Corporation is formally put into operation, it will provide financing guarantee services for SMEs in line with relevant national industrial policies, business growth and good business philosophy.

"This is a happy event for the vast number of small and medium-sized enterprises, marking an important step in building a credit guarantee system for SMEs in Jinjiang".

Related Jinjiang city leaders said.

It is reported that financing difficulties have always plagued the development of SMEs in Quanzhou.

According to incomplete statistics, there are more than 100 thousand enterprises registered in Quanzhou, most of which belong to small and medium-sized enterprises.

Because of its small scale, unclear profit and unstable cash flow, SMEs are often unable to provide effective financing and loan guarantee, resulting in difficulty in loans.

Especially since last year, the state has adopted a macro tightening policy to further aggravate the financing pressure of enterprises.

In recent years, many leading enterprises in Quanzhou have taken the lead in setting up Guarantee Corporation.

3 years ago, Quanzhou Haitian Light Textile Co., Ltd. invested 40 million yuan, and established the Quanzhou credit Company limited by guarantee with Quanzhou state owned assets investment and operation company. Last year, the company increased its capital and 7 private enterprises injected capital.

Jinjiang's Dragon underwear also entered the guarantee industry last year.

When he learned that Quanzhou agricultural bank intends to support a Guarantee corporation specializing in the financing of small and medium enterprises in the industry, chairman Cai Zhuolong, with a registered capital of 40 million yuan, set up Jinjiang Longda investment Company limited by guarantee, which is specially designed for the financing of SMEs in Shenzhen and Shanghai.