The Automobile and Auto Parts Industrial Park, located in the Wuhan Economic & Technological Development Zone (WHDZ), has taken steps to ensure enterprises in the park resume work and production soon, according to the zone’s official WeChat account.
In the early stage of epidemic prevention and control, 35 staff members at the park implemented grid management for more than 430 enterprises based there.
They researched the capital needs of 101 companies, and introduced them to four financial institutions in batches according to their corporate loan intentions. According to their financing needs, financial characteristics and asset status, they helped companies formulate scientific and reasonable financing plans.
In response to the individualized core demands of various enterprises, the park built a platform to promote coordination and communication between banks and enterprises.
The park held two bank-enterprise matchmaking meetings on March 29 and April 13, with one featuring Wuhan Rural Commercial Bank and the other featuring China Construction Bank.
Each financial institution explained in detail their product features, applicable objects, loan amounts, interest rate terms and repayment methods. In response to the problems raised by the enterprises, the bank explained the products and financing service policies in detail, and provided financing advice and solutions for the enterprises.
The park publicized the preferential policies issued by Hubei province, Wuhan city and the WHDZ during the epidemic period and helped enterprises complete the required materials for applications.
So far, four banks have completed 120 million yuan ($17 million) in funding for 24 enterprises in the park.
The banks are currently collecting loan information for 26 companies in the park, as well as connecting 31 companies with guarantee and mortgage procedures.
