60% interest on one-year loans of Guangzhou SMEs by financial subsidies

On the 22nd, it was learned from the “Government and Bank Enterprise Project Financing Matchmaking Meeting” held by the Guangzhou Municipal Economic and Trade Commission and the Municipal Small and Medium Enterprise Bureau that the provincial finance added a special fund of 1 billion yuan for SMEs in 2009, of which 600 million yuan was arranged. The special funds for cooperation between the government, the bank and the enterprise will be directly financially supported by the loan subsidy.
According to reports, selected companies and successful bidders can apply for loan interest subsidies as long as they successfully sign a loan agreement. Among them, 1 year and less loan subsidy 60% interest (20 million yuan loan amount capped), 2 years and less loans subsidized 50% interest each year (15 million yuan loan amount capped), 2 years or more loans, In the previous two years, 50% interest was subsidized each year (the loan amount of 12 million yuan was capped).
At present, Guangzhou has recommended to report 283 small and medium-sized enterprises with good growth potential and great development potential. They have been publicized on the Guangzhou Economic and Trade Information Network and reported to the provincial SME Bureau and the Finance Department for filing. These small and medium-sized enterprises are expected to take the lead.
About 500 people from 9 financial institutions, enterprises and guarantee institutions such as industry, agriculture, China, construction, exchange, investment, China Everbright, Guangdong Development, Guangdong Rural Credit Cooperatives attended the matchmaking meeting yesterday. 283 SMEs in Guangzhou are connected with 9 financial institutions. At present, the initial intention of docking loans is close to 3 billion yuan.