With support from the Taixing Huangqiao Economic Development Zone, Taixing, Jiangsu province, resident company Taixing Hutchin MFG recently obtained 9.4 million yuan ($1.31 million) in credit loans from the Nanjing branch of Bank of Beijing.
The loan helped address the company's urgent need to increase research and development investment and upgrade intelligent production lines.
Deeply engaged in the field of high-end electromechanical equipment manufacturing, the company was faced with a shortage of working capital due to a surge in orders.
Taixing Hutchin MFG. [Photo/WeChat account: gh_07a864197818]
Through regular enterprise visits, the zone learned about the company's needs and coordinated with the Nanjing bank to conduct an on-site consultation.
The financial services have abandoned traditional reliance on mortgage guarantees and instead focused on the technological innovation, market share, and future development potential of the enterprise.
The bank customized a credit loan plan for the company through an efficient and fast approval process, taking less than one working day from discussions to grant the credit.
As of now, more than 20 resident enterprises have been granted credit and financing totaling 2.5 billion yuan with the help of the zone.