Bank of Chongqing to offer 1 bln yuan loans to small & micro enterprises

Bank of Chongqing is to offer 1 billion yuan loans to 10,000 small and micro enterprises in 2012.

The bank elaborated a new product for small and micro enterprises in 2011. According to the requirements of the product, small and micro enterprises approved by Chongqing Administration for Industry & Commerce and without bad credit can all receive a maximum 150,000 yuan loan. A sum of 145.89 million yuan loans have been offered to 2,743 small and micro enterprises by the bank all the year around, taking up 97.24% and 96.67% of the municipal policy-type loans respectively in terms of amount and quantity.

Over 75% new loans will be offered to small and micro enterprises in 2012, according to the bank.

Deng Jun