It was learned from Finance Bureau of Chenzhou, Hunan province, 125 million yuan loan guarantee and 115.7 million yuan finance discount were issued by Chenzhou financial departments, Human resource and social security bureau and other relative departments for 1462 entrepreneurs to assist their development.

Guided by “carrying out working style rectification, propelling financial great development”, Chenzhou financial departments worked actively on helping middle and small enterprises and private businessmen to start their businesses. In the late April, “implementation suggestions on further propelling small amount loan guarantee to help the entrepreneurs” was launched by the financial bureau, People’s Bank of China, Chenzhou branch, Human resource and social security bureau.

According to this suggestion, it loosed the restriction for prospective borrower, such as people who are in Chenzhou city with Chenzhou census register, are certified with industrial and commerce license, and operate business in fixed area in the town or own aquaculture in the rural area with some scales, or can provide property mortgage are capable to apply for the loans. Also, the loan amount was increased, for instance, the personal loan was increased from 20000 yuan to 5000 yuan and 80000yuan for male and female separately, among which graduates from colleges with no limit to the gender can get maximum 100,000 yuan loans, or partnerships and labor intensive small enterprises can be assisted with maximum 500,000 yuan and 2 million yuan financing discount.

Meanwhile, the procedures for loan were simplified. The good credit individual can submit the application for the small loan guarantee center directly after approval; individuals meeting the assistant conditions and with property mortgage to apply for the loans can submit the financing discount application to the loan guarantee center directly. The following-up working would be intensified on the loan guarantee work. Loan guarantee work was listed in the “well-being 100 projects” from 2012. Pre-loan training would be carried out for the entrepreneurs. Small loan guarantee service windows would be on the Postal Savings Bank and rural credit cooperatives. The relative departments would be managed strictly according to fixed rules.

Besides the issued 125 million yuan loans, Chenzhou financial departments will keep issuing 135 million yuan guarantee loans which hit the total amount of loans and financing discount with 260 million yuan and 25 million yuan respectively.