Xinhua News Agency, Hohhot, June 28 (Reporter An Lumeng) In order to better support entrepreneurship and employment, many cities such as Hohhot and Baotou in Inner Mongolia have recently introduced new policies for entrepreneurship guarantee loans. Individuals can borrow up to 500,000 yuan to help the epidemic. Small and micro enterprises and key groups that have a greater impact are able to overcome difficulties.
Hohhot City recently released the 2020 Guideline for Entrepreneurship Guaranteed Loans, which expands the scope of support. Five types of groups, including individual industrial and commercial households who have been temporarily affected by the epidemic and have temporarily lost their income sources, will benefit from it. In terms of loan amount and duration, Hohhot further increased its support, and gave university graduates who started a business within five years of graduation a maximum of three years and a maximum of 500,000 yuan in entrepreneurial guarantee loans.
Lu Tong, who has graduated from university for several years, established an educational institution in Baotou through independent entrepreneurship. "Affected by the epidemic this year, we only started business in June. There was no revenue for several months. The rent and staff wages are very heavy." Lu Tong said that when the company's funds were difficult, he learned about the local government's Series of discount policy and application process. He said: "This is undoubtedly the charity in the snow. After we submitted the relevant materials, we soon applied for a 300,000 yuan entrepreneurial guarantee loan."
In order to allow more entrepreneurs to benefit from the New Deal Guaranteed Loan Policy, Baotou City provides start-up guaranteed loans for entrepreneurs, small and micro enterprises and college students who are willing to start a business by further expanding the scope of support, lowering the loan threshold, and increasing the amount of loans. Among them, qualified small and micro enterprises can apply for loans with a maximum of 3 million yuan. Those with good development prospects and a large number of employed people can apply for loans with a maximum of 6 million yuan after approval by the Municipal Human Resources and Social Employment Department and the financial department.
During the epidemic, Baotou City also provided full interest loans of less than 50,000 yuan to college students, urban employees with difficulties in employment, poverty-stricken households with established registration cards, and farmers and herdsmen who wished to start their own businesses, without guarantee or mortgage.