The 3 Sector Speeds Up Small Loans For Laid-Off Workers.

The Changsha branch of the people's Bank of China, the provincial finance department and the Provincial Department of labor and social security recently jointly requested: improving the mechanism, lowering the threshold, simplifying procedures, launching and promoting the work of small secured loans for laid-off workers as soon as possible, further improving the loan management measures, and promoting laid-off and unemployed people to seek jobs and start their own businesses.

This is the news from today's Provincial Department of labor and social security.

The main spirit of this 3 sector is to reduce the threshold and simplify procedures.

For small loans that laid-off and unemployed people are seeking to do their own jobs and start their own businesses, the amount of their counter guarantee must not exceed 30% of the total amount of loans.

If a project is approved by the labor and social security department at or above the county level, or if the project is approved by the labor and Social Security Department of the county or above, there is no bad credit record for the individual, and the credit guarantee certificate issued by the labor security service center of the community shall not require the borrower to provide the counter guarantee procedure.

All localities must strictly implement the policies of small and medium-sized secured loans issued by the central government and our province, and standardize the work.

No unit or department may add any conditions inconsistent with the current policy for any reason.

The relevant departments such as labor and social security, guarantee agencies and management units can reduce the links and procedures of repeated investigation and auditing, innovate ideas, and actively explore and establish joint approval system, so as to improve the efficiency and speed of lending.