Shishi Taiwan Funded Textile Enterprises Join Forces To Crack Down On "Financing Difficulties"

"Thank you very much. This loan is very timely. It really solves my urgent need." stone lion The Taiwanese businessman Lin Shui tower of the clothing city has obtained 480 thousand yuan credit from the local agricultural bank.

Lin Shui tower is from Kaohsiung, Taiwan. 6 years ago, he was in a stone lion. Clothing City A company registered for cloth wholesale trade has been developing smoothly. Since March this year, due to the poor market environment, Lin Shui tower's cash flow has been tense. He appealed to local commercial banks, but because several shops in the company were rented, no real estate could be mortgaged, and the bank refused his credit application.

At the time of difficulty, Lin Shui tower sought help from the Shishi cloth guild. The staff of the association contacted the local agriculture for the first time. Bank And allocated $480 thousand from the 300 million yuan credit line of the cloth guild in the bank to support Lin Shui tower and provide guarantees to help them tide over the difficulties.

It is reported that at present, among the hundreds of Taiwan funded enterprises in Shishi, 70% are concentrated in the textile and garment industry. Since the beginning of this year, as the central bank has tightened its monetary policy, many textile and garment enterprises including Taiwan funded enterprises have encountered financing difficulties. Li Wulin, Secretary General of Shishi sorority Association of Quanzhou Taiwan Businessmen Association, said that because Taiwan funded SMEs lack collateral in the region, it is difficult for commercial banks to have in-depth understanding of their business status, so it is difficult to extend credit. In order to solve the financing difficulties, local trade associations, textile and Garment Association, Garment City Chamber of Commerce and other industrial associations took action, and gained nearly 1 billion yuan of credit lines from local commercial banks through the way of association risk sharing. In addition to supporting local enterprises, these associations have also included Taiwanese funded enterprises invested in Shishi to support them. At present, only more than 30 enterprises in the textile and garment industry have joined the club and obtained credit support.

In the Shishi textile and garment industry, some Taiwan funded enterprises have joined forces in view of the tight cash flow and credit difficulties. Large enterprises have supported small businesses, and have been "warming up" to tide over difficulties. Pengcheng Textile Co., Ltd. is a leading Taiwanese funded enterprise in a local textile and clothing industry with strong strength. Since the beginning of this year, in view of the difficulty in credit, the company has combined small and medium-sized Taiwan funded enterprises such as bleaching and dyeing and logistics in the upstream and downstream of the textile industry to provide third party guarantees for enterprises needing loans.

In addition, Shishi is giving full play to the advantages of the more than 40 guarantee institutions in the city, and endeavours to provide more channels for local Taiwanese textile enterprises to raise funds for SMEs.