Hebei Grants Small Loans In 5 Years, 280 Million Supports Entrepreneurs

Reporters recently learned from the Hebei Provincial Department of labor and social security that since the small guarantee loan was launched in 2003, the province has issued a total of 280 million yuan of small loans, with an average maturity recovery rate of 87.5%, supporting nearly 20 thousand entrepreneurs.

According to the introduction, Hebei province has continuously expanded the scope of small loans, and the loan quota has been raised from the highest 20 thousand yuan to 50 thousand yuan for the self employed personnel who meet the loan conditions. The loan period has been extended from 2 years to 3 years. Two small loans can also be granted to small business labor-intensive small businesses with successful business prospects, promising development projects, self financing projects that repay loans in full and full time, regular employment, high degree of credit and repayment ability.

However, the total amount of Hebei's microfinance payment is uneven. Baoding accumulative total of 53 million 210 thousand yuan, the rate of recovery is 94%, while Shijiazhuang's accumulative distribution is less than 5 million yuan, and the rate of recovery is 50%.

According to the industry insiders, an average of 87.5% of the rate of maturity recovery indicates that the overall situation of the small guaranteed loan is healthy in the province. In the long run, the management and payment work still needs to be perfected, which is also indispensable to the credit education of the majority of borrowers.