In order to promote help local women develop their businesses through loans, the women's federation of Sanming City, southeast China's Fujian Province, recently signed a strategic cooperation agreement with the local rural commercial bank.
They have established a new venture loan model to subsidize women in terms of credit scale, interest rate pricing, loan terms, business innovation and preferential policies of women's entrepreneurship and employment.
Liao Liqing, president of Sanming Women's Federation (SWF), said that the agreement is a major measure taken by women's federations at all levels in Fujian to help women actively participate in rural vitalization, mass entrepreneurship and innovation, and poverty alleviation campaigns.
Liao also introduced that through the preferential measures, such as decreased loan interest rates, the agreement has provided financial assistance to urban and rural women who are interested in starting businesses, helping them to embark on the road of self-employment.
In addition, SWF also held a special promotion meeting to organise related work, and invited relevant business leaders of the city's rural commercial banks to further explain related knowledge to officials of women's federations, such as applying for loans through mobile applications and interest rate calculation methods.
Xia Yun and Zeng Yuji from Songxi Village of Sanming said that they have obtain a loan of 200,000 yuan from the agreement and expanded their soybean products workshop.
They also registered a cooperative and formed their own sales channels and markets, achieving an integrated business model of production, supply and sales.
As of now, 225 women in the county have received credit loans worth a total of 7.08 million yuan. The women's federation in Qingliu County also closely cooperated with credit cooperatives and successfully won women entrepreneurs a 15 percent discount compared with the standard loan interest rate.
(Source: Cnwomen.cn/ Translated and edited by Women of China)
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