On Feburary 19th, the third working day after returing from Spring Festival, the manager of Zhejiang Sanpin Bearing Co., Ltd Mr. Xu Zhangrong received the call from the account manager of Changshan Rural Credit Cooperative Union, and he told Mr. Xu that the loan has completed the approval. It is known that it is the first enterprise loan approved by this unit and ensure the normal production of the enterprise.
Zhejiang Sanpin Bearing Co., Ltd is a Zhejiang merchant returing enterprise introduced by the local government from Jiangxi in 2011. In these two years, Changshan Rural Credit Cooperative Union invested RMB 8 million credit funds to hep the enterprise solve the capital vacancy, ensuring the enterprise put into production and achieved output of more than RMB 43 million. While because of the promotion of the enterprise’s bearing ring equipment capacity expansion project, the working capital meet another bottleneck in this year. In order to guarantee the normal operation of the enterprise, Changshan Rural Credit Cooperative Union started the preparation work for adding project loan of RMB 7.5 milllion, including material collection, feasibility studies, and loan paper sign etc. The caital has been released on the third working day.