Special Loan Scheme Helps Female Entrepreneurs in SE China

June 19, 2018
Editor: Yang Peng

Female entrepreneurs in Zhangzhou, southeast China's Fujian Province, have benefited from a special start-up loan policy since 2014 thanks to a highly practical initiative from the city's women's federation.

For example, Chen Longzhu, now president of an agricultural development company, received a loan of 100,000 yuan from the Rural Commercial Bank of Zhangzhou (RCBZ) when her company got into funding trouble years ago.

Recently, she extended her appreciation to Zhangzhou Women's Federation (ZWF), saying her achievements should partly be attributed to the financial aid.

Nearly 1.6 billion yuan has been lent to help some 6,000 female entrepreneurs who start up businesses after ZWF worked with RCBZ to roll out the policy.

Under the initiative, the loans come with no service charge.

"Those who are entitled to apply for the loan can get over 10 percent lower interest rates," said President Huang Shuhong of ZWF.

"Women's federations and credit cooperatives in Fujian have been promoting the loan policy since March this year and some 10,602 female entrepreneurs have received a total of 756 million yuan in loans for start-ups."

The move has assisted efforts to promote the country's poverty alleviation campaign and gained high praise from the public, according to a spokesperson.

(Source: China Women's New/Translated and edited by Women of China)

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