The "Micro-Aid Program" launched by the All-China Federation of Industry and Commerce has granted 4 trillion yuan of loans in two years to help small and micro enterprises, the All-China Federation of Industry and Commerce said on Tuesday.
The "Micro-Aid Program" jointly initiated by the All-China Federation of Industry and Commerce, a number of industry associations and financial institutions, has effectively promoted the relief of financing difficulties for small and micro enterprises.
In the two years since the "Micro-Assistance Program" has been launched, 127 financial institutions including ICBC, Bank of China, and MYbank have provided a cumulative loan of more than 4 trillion yuan, averaging more than 3 million small and micro customers every month.
"The Micro-Aid Program has enabled a large number of long-tail small and micro operators who were not previously covered by financial institutions or under-covered to receive effective financial services. According to a survey, 48.8% of the small and micro operators who have obtained Micro-Aid Program loans have obtained operating loans from banks for the first time since 2020." Lin Zeyan, Deputy Secretary General of All-China Federation of Industry and Commerce.
The survey shows that in the past two years, small and micro enterprises have more extensive channels for obtaining loans, and more and more small and micro enterprises have obtained loan support from banks through online models.
More than 60% of small and micro enterprises believe that online loans can be repaid at any time, flexible and convenient with less interest expenses.
The All-China Federation of Industry and Commerce will continue to further promote the "Micro-Aid Program" by focusing on helping small and micro enterprises, revitalizing rural areas, supporting technological innovation, and serving small and micro enterprises to stabilize their development.
