Huai'an Sets 140 Million Yuan as Start-up Guarantee Loan
Huai'an City has planned to allocate 140 million yuan (21.8 million US dollars) as guarantee loan for business start-up for this year. Entrepreneurs can apply to the city's Human Resources Department at any time.
Backed by the government funds, the loan for business start-up is a policy loan service provided by guarantee agencies and issued by commercial banks. It is characterized by the government's interest discount, which can reduce the financial pressure on entrepreneurs.
According to the latest policy in Huai'an, entrepreneurs based in Qingjiangpu District and Huai'an Economic and Technological Development Zone can apply for the guarantee loan at the Huai'an Public Service Center. Entrepreneurs from other counties and districts can submit application at the local human resources agency.
It is reported that since the implementation of the guarantee loan policy in 2003, Huai'an has issued a total of one billion yuan to support start-up and provided more than 20 million yuan as discount interest fund.