E-Town Financing Guarantee makes efforts in virus control
Meizhou Dongpo staff members deliver meals. [Photo/etowncapital.com]
Beijing E-Town International Financing Guarantee Co -- also known as E-Town Financing Guarantee -- is supporting the development of companies based in the Beijing Economic-Technological Development Area (BDA) that are engaged in novel coronavirus pneumonia prevention and control, according to BDA officials.
They said E-Town Financing Guarantee recently approved key projects for epidemic prevention that were developed by BDA-resident companies worth more than 100 million yuan ($14.25 million) -- and the group has gone all out to help win the battle for epidemic prevention and control.
On Feb 19, E-Town Financing Guarantee, along with Industrial and Commercial Bank of China, injected 5 million yuan into Beijing CSTimes Technology Co -- the only private enterprise in Beijing that supplies non-contact far-infrared thermometers in epidemic areas. It did this by means of canceling counter-guarantee requirements, increasing the amount of support, reducing comprehensive costs (the guarantee fee rate reduced to 1%) and adopting entrusted payments.
At present, Beijing CSTimes Technology Co is working to speed up the production of medical supplies for the epidemic-hit areas.
Beijing Hongtai Shengshi Technology Co is a national high-tech enterprise registered in the BDA. It is engaged in the operation and management of Hongtai industrial community and a public service platform for SMEs in Beijing.
Affected by the epidemic, more than 100 companies served by Hongtai Shengshi Technology Co made late payments of rents totaling nearly 10 million yuan in the first quarter of 2020 and faced the problem of loan repayments which were due.
E-Town Financing Guarantee and Industrial and Commercial Bank jointly studied a plan to reduce overall costs and as a result their guarantee fee rate was reduced by 0.5 percentage points. They completed rapid approval of projects worth 10 million yuan within one week, helping companies to smoothly survive the epidemic crisis and speed up work and production.
Meizhou Dongpo Group is a well-known domestic catering company. During the outbreak, Meizhou Dongpo E-town branch provided group meals for nearly 10 companies in the BDA, delivering more than 1,000 meals daily. It provided free meals to frontline staff in Huanggang hospitals and public security duty departments.
The company uses unmanned distribution vehicles to provide free meals for medical staff of Beijing Haidian Hospital, as well as for group meals shipped to enterprises in various regions that have resumed work and production.
However, due to the epidemic situation, sales of Meizhou Dongpo plummeted, food factories, central kitchens and other operations were hindered and the company suffered heavy losses.
In response to its corporate needs, E-Town Financing Guarantee and Huaxia Bank urgently formulated a 3-year 15 million yuan finance plan, which increased the life of funds and reduced financing costs and completed the approval within one week.