Expansion Of Small Loan Secured Loans

The provincial government recently issued the notice on further improving and implementing the preferential policies for reemployment of laid-off workers. The reporter was informed that not only the scope of guarantee for the provincial small loan guarantee fund expanded, but also the small businesses that employ laid-off workers to reach 30%% above the total number of employees on the provincial level will be supported.

The "notice" stipulates that the provincial guarantee fund will continue to support provincial enterprises and laid-off workers in five cities in Northern Jiangsu, and the scope of secured loans will expand to the laid-off and unemployed workers of the central subordinate enterprises and the five cities of Nanjing, Zhenjiang, Yangzhou, Taizhou and Nantong.

While supporting laid-off and unemployed people to seek their own jobs and start their own businesses, petty loan guarantees should also actively support labor-intensive small businesses that have recently recruited laid-off workers to reach more than 30%% of the total number of employees on the job and have signed more than one year's labor contracts with new recruits.

The threshold of anti loan guarantee for laid-off and unemployed workers is further reduced.

When applying for loans to laid-off and unemployed persons with one of the following conditions, the labor and Social Security Department of the local community or district shall examine and cancel the counter guarantee: 1, no bad credit record is found by the individual, and the project submitted by the enterprise after training and training has been assessed and identified by the Organization experts; 2, the family members who are difficult to meet the requirements of the local government and the mutual protection of the family members; and 3, the laid-off workers' joint guarantee loan.