ABC Simple Loan for Small Enterprises Wins Award
OREANDA-NEWS. February 10, 2012. Recently, Simple Loan for Small Enterprises of Agricultural Bank of China Limited (ABC) won "2011 Herald China Product Award". The "Herald China" annual award selection event is cosponsored by Xinhua News Agency's Reference News and International Herald Leader, reported the press-centre of ABC.
It is designed to discover via the media system of Xinhua News Agency innovation heralds in social and economic development over the year and publicize these successful advanced concepts and cases to the best.
In 2011, affected by adjusted domestic monetary policies, inflation and shrunk overseas markets, small and medium enterprises, especially small and micro ones, were facing with increasingly difficult financing. To answer the call of the government and strengthen financial services for small enterprises, ABC introduced Simple Loan to deal with difficult financing for those enterprises based on their "short-term, small-sized, frequent and urgent" financing needs.
Moreover, ABC kept adjusting and optimizing Simple Loan as the market changed to meet small enterprise customers' changing needs. Simple Loan for Small Enterprises was well received by small enterprise customers for its high financing limit, flexible guarantees and simple operation process. Simple Loan is designed for small enterprise customers' needs for revolving, seasonal and temporary working capital in production and operation. As at the end of September 2011, the balance of Simple Loan was RMB83.0 billion, covering various customers from all sectors of the national economy, which attracted extensive attention.