Wednesday 1st April 2015
In late 2014, the Changjiang branch of the Chinese Bank of Deyang launched its Good Sisters Women Entrepreneurship Helping Initiative as part of its ongoing efforts to offer innovative products and services, as well as become known as Deyang’s Women-Friendly Bank. The initiative, carried out in cooperation with the Women’s Federation of Deyang and local communities, companies and individuals, is intended to help women entrepreneurs who have potential but lack the resources to qualify for the bank’s more traditional financing options.
As part of the program, Bank of Deyang thoroughly examines the creditworthiness of potential candidates. Those who are approved can receive capital or investments from local companies and individuals, or loans backed by those parties. Zhao Sulian, who owns a wholesale pork business, recently received a loan for more than US$8,000 backed by Deyang Jiaxin Property Management Company. With the money, Mrs. Zhao was able to buy a delivery vehicle and expand her distribution to an increasing number of supermarkets. Her revenue has since increased considerably.
Bank of Deyang is planning to work more closely with the Women’s Federation of Deyang moving forward, in an effort to prioritize the women entrepreneurs who most need support. The bank also plans to engage more companies to participate in the program to expand its reach to more women in the area.