NanTong's first "equipment mortgage" successfully landed in Tongzhou Bay

Release time：

2024-07-24

NanTong's first "equipment mortgage" successfully landed in Tongzhou Bay

Recently, Nantong's first "equipment guarantee" loan successfully landed in Tongzhou Bay. This loan, a collaboration between Nantong Science and Technology Financing Guarantee Co., Ltd. and the Tongzhou Bay branch of Jiangsu Bank, provided Jiangsu Rongjin Electronics Co., Ltd. with a credit line of 6 million yuan for equipment purchases. The funds will be used to purchase new equipment, expand production scale, and enhance the core competitiveness of its products.

"Equipment guarantee" is a policy launched jointly by the Jiangsu Provincial Department of Finance, the Provincial Department of Science and Technology, the Provincial Department of Industry and Information Technology, and the Provincial Local Financial Supervision and Administration Bureau to support enterprises through guarantees. It increases financial support to guide a new round of large-scale equipment upgrades and renovations. The policy supports small and micro manufacturing enterprises in the province, including technology-based small and medium-sized enterprises, specialized and new enterprises, key industrial chain enterprises, and future industrial cluster enterprises. The policy encourages enterprises to purchase, update, and renovate production equipment through loans. The guaranteed amount for a single enterprise is up to 50 million yuan, not exceeding 70% of the total investment in equipment. Enterprises only need to bear 20% of the guarantee fee (i.e., 0.2%/year), with the remaining 80% subsidized by the provincial government for up to 3 years. All subsidies are pre-allocated and then settled, allowing enterprises to enjoy the benefits without prior payment. This effectively meets the funding needs of manufacturing clients for updating and upgrading production lines.

Jiangsu Rongjin Electronics Co., Ltd. is a manufacturer of aluminum substrates and copper-clad laminates, whose products are widely used in consumer electronics, automotive electronics, LED backlighting, and industrial insulation materials. During a visit, the demonstration zone service specialist learned that the company planned to purchase a new production line to address regional layout and new product expansion needs, but faced a funding gap. Through bank-enterprise matchmaking, the company was connected with the Science and Technology Guarantee and the Tongzhou Bay branch of Jiangsu Bank. The financial institution proactively provided on-site services to explain the "equipment guarantee" policy, quickly completing the 6 million yuan credit approval and disbursement.

Next, the demonstration zone will continue to hold bank-government-enterprise matchmaking activities and implement financial support measures to ensure enterprise financing and industrial development.

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