Wusu: 6 Billion Yuan Loan To "Escort" Xinmian Acquisition

In order to guarantee the fund supply of new cotton purchase, Wusu rural commercial bank takes serving enterprises and "agriculture, rural areas and farmers" as the starting point, and in line with the principle of "early preparation and early delivery", plans to provide 6 billion yuan of loans to fully support the purchase of new cotton, so that farmers can get their hands and money.

More than a month before the purchase of new cotton, Wusu rural commercial bank made preparations in advance. By visiting cotton processing enterprises and holding symposiums, the bank understood the difficulties and demands of the enterprises, and achieved early demand investigation, early approval of credit, early financing, early planning and early loan release, laying a solid foundation for the smooth progress of new cotton acquisition.

Zhang Xizhao, manager of Xinjiang wanyiyuan Cotton Industry Co., Ltd., said: "this year, the agricultural and Commercial Bank of China has given us great support, lowered the interest rate and adjusted the matching funds appropriately, which solved our urgent need."

Pan Jiaen, general manager of Wusu Xingguang cotton and hemp Co., Ltd., said: "they came to our company this year to investigate and give us further preferential treatment. The interest rate is also favorable. The loan line supported is 300 million. The matching fund is formulated according to the integrity of the enterprise and the years of cooperation between enterprises. We think it is very good."

It is understood that this year, the cotton planting area in Wusu city has reached 1.73 million mu. In order to ensure the normal and orderly purchase of new cotton, the credit personnel of Wusu rural commercial bank have carried out qualification identification and quota verification for more than 70 cotton acquisition and processing enterprises in the city in advance, and planned to release 6 billion yuan of new cotton purchase loans to provide financial guarantee for new cotton acquisition.

Min Lianhu, assistant president of Wusu rural commercial bank, said: "we have solved the financing difficulties of enterprises by reducing the proportion of self financing loans, reducing the loan interest rate, and in accordance with the mode of" one enterprise, one policy ". All loan approval procedures are expected to be completed before August 30, so as to ensure the smooth development of Wusu city's new cotton purchase in 2021."

(source: China News Network)