Representatives from financial institutions visit SAPW Technology Co to offer possible financing options. [Photo provided to en.whkfq.gov.cn]
SAPW Technology Co, located in the Wuhan Economic & Technological Development Zone (WEDZ), is a gazelle enterprise that deals with industrial design and modeling, 3D printing and manufacturing, and mold design and manufacturing. It mainly serves FAW, SAIC, SANY and other domestic renowned enterprises, and about half of its products are exported to overseas customers.
Recently, the enterprises encountered financing problems, and many local financial units, including banks and financing guarantee companies, came to visit the firm and helped it get a 5-million-yuan ($733,500) guaranteed loan for startups.
"After the representatives from various financial institutions visited our workshops, they offered us the loan to alleviate our financial pressure," said Jiang Xiaodong, general manager of the firm.
This is not the first time that the company has received such assistance. In the beginning of last year, as a result of the pandemic, the company was unable to provide overseas services, and ran into financing troubles. At that time, local financial institutions offered the firm many plans to solve the issue, and SAPW ended up getting a loan of 3 million yuan.
