According to information provided by the Nanning Municipal Science and Technology Bureau recently, “Implementation Plan of Venture Capital Pool in Nanning for Technologies, Loans and Credit” (hereinafter referred to as the “Plan”) was issued. It is stipulated in the “Plan” that Nanning will offer guidance for banks and other financial institutions to provide increased amount of loans for small and medium-sized enterprises, so as to effectively alleviate financial problems faced by them that can hold back innovation and entrepreneurship.
According to the “Plan”, the business model of the “Venture Capital Pool in Nanning for Technologies, Loans and Credit” is essentially a lending platform for small and medium-sized enterprises based on the recommendations of the Nanning Municipal Science and Technology Bureau and Nanning Municipal Industry and Information Committee. Small and medium-sized enterprises can apply for loans based on their fixed assets, legally valid and transferable property rights or equity pledge, combination of financial guarantee, or other methods approved by the bank. Meanwhile, enterprises can provide voluntary collaterals, while the Nanning Municipal Science and Technology Bureau offers special funds to support the “Plan” and mitigate risks.