Inclusive Finance Promotion Month | How can the “dream” of small and micro innovation come true? Inclusive finance’s “big article” brings “little luck”
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The “big article” of inclusive finance is about the small businesses of small businesses and the daily lives of entrepreneurs. In Shanghai, a number of small and micro enterprises, such as Shiwei Intelligent and Duoyu Information, felt the help from banks when they were most in need of money when they were starting up.
Since 2000, the Bank of Shanghai has exclusively cooperated with the Municipal Human Resources and Social Security Bureau in the small business guaranteed loan business; in 2019, the business scope was expanded to various small and micro entrepreneurial organizations in the city, and the maximum loan amount was increased to 3 million yuan; in 2023, it will The “Entrepreneurship Guarantee Batch Loan” was jointly launched with the Municipal Employment Promotion Center and the Municipal Financing Guarantee Center.
Up to now, the Bank of Shanghai has issued a total of 3.755 billion yuan in entrepreneurial guaranteed loans, served a total of 23,700 entrepreneurial organizations and individuals, and helped provide employment for nearly 40,000 people.
Small and micro enterprises:
There is a general lack of funds during the start-up period
Shiwei is intelligent and specializes in the research and development of UAV flight control systems in complex urban environments. The founder of the company, Dr. Shi Wei, graduated from Jiaotong University with a major in mechanical engineering. He once worked at the Chinese headquarters of a well-known foreign-funded aircraft R&D company, leading the team to conduct research and development of the flight control part of large aircraft projects.
After Schwei independently founded Shiwei Intelligent Technology, it continued to develop drone flight control systems. In the early days of entrepreneurship, orders were slow to come in and investments in R&D were huge. The company faced a shortage of funds.
In the early stages of starting a business, small and micro enterprises face “the same problems.”
Duoyu Information is a technology-based enterprise independently founded by Shanghai Fudan graduates. 90% of the company’s personnel are from Shanghai Fudan’s software engineering major, and more than 80% of the company’s employees have master’s degrees. The company is mainly engaged in the system research and development and manufacturing of intelligent sand tables. The intelligent sand tables it produces can realize the leading human-computer interaction operation in the country.
Mr. Chen, the founder of the company, said that in the early days of starting a business, funding became a problem that faced the company. Funds were needed to develop products, suppliers needed to pay in advance, and traditional financial products required mortgages to obtain loans.
Shanghai Bank:
You can solve problems cleverly without looking at financial reports
By chance, Duoyu Information got acquainted with the Bank of Shanghai through the introduction of the Hongkou District Employment Promotion Center. After fully understanding the company’s operating conditions and capital needs, the Caohejing Branch of the Bank of Shanghai provided a personal entrepreneurial guaranteed loan for the company, which relieved the company’s financial pressure.
“The process is convenient, fast, and the interest rate is low.” Shi Jiping, the financial director of Duoyu Information, said that the loan funds were “in place” in time in the first quarter of this year, and the one-year term just solved the company’s short-term need for funds. “We will continue to apply in the future, and Bank of Shanghai also stated that it will provide ‘seamless’ support and services.”
Similarly, the Bank of Shanghai accurately “gained the pulse” of Shiwei Intelligent’s funding needs and solved the company’s urgent needs through entrepreneurial guaranteed batch loans.
“It was very fast to open an account and it was done in one day; then, it only took 2 weeks to complete the review and loan disbursement; at the same time, Bank of Shanghai also helped us apply for some interest discounts.” said Quan Xin, head of Shiwei Intelligent Finance.
Since the beginning of this year, Shiwei’s intelligentization has gradually been on the right track, with order volume increasing steadily and promising future prospects.
In the process of supporting Shiwei’s intelligent and multi-feather information, it is precisely because of its in-depth understanding that Shanghai Bank can “take care of the needs of small and micro enterprises” and accurately provide financial services.
“The financial statements of start-up small and micro enterprises are not so ‘pretty’, and their unique competitiveness may not be visible by looking at the data. Therefore, to ‘do’ this type of customers, the only way to ‘reach’ them more deeply is to “Excavation.” When talking about his own feelings, Zhang Zhen, deputy president of Caohejing Branch of the Bank of Shanghai, said, “The difficulty in entering the front line of small and micro enterprises is that it requires a lot of time, manpower, and energy, but the amount of business is not that large. .”
However, in Zhang Zhen’s view, the meaning of inclusiveness lies precisely in that – not to ignore the small things. “From the perspective of helping start-ups and supporting an innovative dream, inclusive finance is very meaningful and socially responsible.”
Entrepreneurship secured loan:
Yindan joins hands to make it “fast and economical”
The financial support obtained by the above two small and micro technology enterprises is an innovation jointly carried out by “Yindan”. Some insiders believe that the biggest benefit of this inclusive business to small and micro enterprises is that it is “fast and economical.”
According to reports, the Entrepreneurship Guarantee is a proactive fiscal policy led by the city’s financial department to support entrepreneurship and create employment. In accordance with the city’s policies and regulations, guarantee fees are waived for entrepreneurial guarantees. After normal repayment, enterprises can also apply for interest discounts from the district employment promotion centers.
Bank of Shanghai has exclusively cooperated with the Municipal Human Resources and Social Security Bureau in the small-amount guaranteed loan business since 2000, providing individual small-amount guaranteed loans, pre-entrepreneurship loans, micro-loans, and small-amount legal person guaranteed loans to qualified natural persons and legal persons. In 2013, the business scope was expanded to include various small and micro entrepreneurial organizations in the city, and the maximum loan amount was increased to 2 million yuan.
In 2023, the Bank of Shanghai, the Municipal Employment Promotion Center and the Municipal Financing Guarantee Center jointly launched the “Entrepreneurship Guarantee Batch Loan”. Enterprises that meet one of the six categories of conditions, including “government-certified qualifications, obtaining venture capital, obtaining special funds, winning entrepreneurial innovation competitions, being members of talent plans, and obtaining high-quality employment” can be included in the “batch loan whitelist” through recommendation. Enterprises on the white list can be independently approved by the bank for lending, eliminating the need for review by the Municipal Financing Guarantee Center, and the business processing time is shortened from at least one month to less than two weeks.
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