Agricultural Bank Of China Akesu Branch Helps Cotton Purchase In The Region

"New cotton pass" business can effectively solve our cotton purchasing fund shortage problem, and at the same time, we can extract credit funds according to the demand for acquisitions, effectively reducing the cost of our loans. In October 14th, when the first 3 million 800 thousand yuan cotton purchase loan came to account, Cai Zujin, general manager of Jintai Cotton Industry Co., Ltd., said, happily.

Cai Zujin's "new cotton pass" business, which is known as the "new cotton warehouse receipt pledge business", is a cotton warehouse receipt mortgage loan business developed by the Agricultural Bank and the trading market, which is recommended by traders in the trading market. "New cotton pass" business first loans, after handling warehouse receipt pledge mode of operation is very suitable for the actual acquisition of cotton enterprises in the region, can effectively meet the financing needs.

As a cotton purchasing enterprise, there is a shortage of funds in the acquisition of cotton in Jinping County, Akesu. In order to help the enterprise to solve the problem of shortage of acquisition funds, the Agricultural Bank of China branch of the Bank of agriculture Limited gave its credit line to 50 million yuan in accordance with the average seed cotton purchase amount and the seed cotton purchase price in recent 3 years.

Cai Zujin said, after the first acquisition loan arrives, 17 days second pen 4 million yuan loan fund also arrives the account. Later, banks will continue to issue credit funds according to the amount of seed cotton purchase and demand for loans, with the support of bank credit funds. This year, cotton purchase funds will be resolved smoothly. At that time, enterprises will speed up the acquisition process, and open up acquisitions and high quality prices, so as to ensure the benefits of cotton farmers benefiting from planting cotton.

After entering the October, with the cotton picking in Akesu, cotton enterprises in all regions started to buy Cotton in succession. To help cotton purchase in Akesu, help cotton enterprises to solve the shortage of purchasing funds, ensure that cotton farmers hand in hand to get money, the Agricultural Bank of Akesu branch launches "new cotton business", and has held "new cotton pass" business promotion meeting many times to solve the capital demand for cotton purchasing enterprises.

Qin Xiaobing, general manager of the Akesu branch of the Agricultural Bank of China, said that with the acquisition of cotton into the peak season, loan placement has also entered a peak period. For this reason, the Akesu branch of the Agricultural Bank of China has opened an investigation, review and approval of the "green channel" to improve the efficiency of the examination and approval, so as to ensure that the loan funds are invested in enterprises at the first time.

Up to now, the Agricultural Bank of China Akesu branch has entered 10 cotton acquisition enterprises, with a total credit amount of 1 billion 517 million yuan, and has invested 100 million yuan in cotton purchase loans, providing adequate financial support for cotton purchasing enterprises.