Siyang Establishes The Textile Industry Mutual Aid Foundation

"Since joining the textile industry mutual aid foundation, it is much easier to use money than before, to a certain extent, easing the company's short-term cash flow problems."

There are hundreds of textile enterprises in Siyang county. In order to alleviate the shortage of liquidity in these enterprises, Siyang County founded the mutual aid foundation of textile industry in early March.

The fund adopts the way of government support and guidance, and helps enterprises to help each other. It takes emergency, mutual assistance and security as the basic principles to solve the short term turnover difficulties of member enterprises' liquidity.

Up to now, 10 enterprises have paid 2 million 150 thousand yuan of mutual aid money, plus 2 million 150 thousand yuan of the county's financial injection, the amount of mutual aid fund has reached 4 million 300 thousand yuan.

It is understood that all textile enterprises and related enterprises registered in the Siyang county should pay the mutual aid fund with a base of 100 thousand yuan to the mutual aid foundation, and they can enjoy the short-term mutual aid payments that are more than ten times the amount of mutual aid payments. Moreover, since the contract guarantee signed by the members of the member enterprises has already been set in advance, it is very convenient for the member enterprises to get loans when they borrow money.

Editor in chief: Xu Qiyun