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“Five million yuan has arrived!” ” When the mobile phone rang with the prompt that the funds were in place, the person in charge of the enterprise let out a long sigh of relief, and the frown on his face then unfolded.
Recently, an enterprise in the Biomedical Valley of the New District received a 5 million yuan “Xinyao Loan” pure credit loan issued by the Jiangbei New Area Branch of Nanjing Bank. For this enterprise that is at a critical stage of research and development, this loan is like a “timely rain”, easing the financial pressure and enabling the core research and development projects to proceed steadily.
01 A loan can be obtained even without collateral or pledge
Not only this one enterprise, but also with the support of “Xinyao Loan”, another enterprise in the Medicine Valley also obtained a 5 million yuan loan not long ago to promote its core product line under research and development.
It is understood that this is a high-tech emerging enterprise. Centering on its core patented technology, the team has launched a series of reagents related to the detection of tumor-specific protein 70. At present, the company’s core product line is progressing smoothly and has entered a critical stage of transforming research and development achievements.
Promoting pipelines and the transformation of research results means higher investment in research and development. However, the enterprise is still in the research and development stage and lacks fixed asset collateral, making it difficult to provide the mortgage guarantee required by traditional banks. As a result, the team once faced a tight financial situation in its daily operations.
When enterprises are in trouble, the new district will find solutions. The financial innovation product “Xinyao Loan” jointly launched by multiple departments including the Finance Bureau of the New District, the Life and Health Office, and the Science and Technology Investment Group, in collaboration with the Jiangbei New Area Branch of Nanjing Bank, has become the key to breaking the deadlock.
It is reported that “Xin Yao Dai” is a pure credit financial product that waives counter-guarantee measures such as mortgage and pledge. This means that even enterprises lacking collateral and pledges now have a new channel to obtain financing. Ultimately, as the first enterprise to be granted credit under “Xinyao Loan”, this company obtained a credit line of 5 million yuan in just two working days.
The Jiangbei New Area Branch of Nanjing Bank conducted a professional assessment of the market value, pipeline progress and the possibility of production and listing of our products under research and development, and quickly completed the credit approval. Relevant staff members of the enterprise stated that with the support of funds, the company’s innovative product research and development process is accelerating comprehensively, laying a solid foundation for production and listing.
02 Specially launched for enterprises in the Medicine Valley
No need to provide collateral or pledges, solving the financing problem. It is worth mentioning that this financial product is specially designed and launched for the specific industrial agglomeration scenarios of the Biomedical Valley in the new district.
Previously, Yaogu convened a symposium between enterprises and financial institutions, and we also jointly visited relevant enterprises with Nanjing Bank. Fan Xiaotao, the person in charge of Jiangbei New Area Green Financing Guarantee Co., Ltd. under the Science and Technology Investment Group, introduced that during the collection of demands, they found that biopharmaceutical enterprises share common difficulties: in the start-up stage of enterprises, revenue growth is limited, and most of them tend to focus on the operation mode of “light assets and heavy research and development”. The lack of collateral and pledges makes it difficult to meet the traditional bank’s requirements for collateral and pledge financing. Ultimately, the restricted financing channels have restricted the development of enterprises.
In response to this pain point, all parties have joined hands to tailor the “Xinyao Loan” for the enterprises in the Medicine Valley. It is introduced. The “Xinyao Loan” is risk-sharing between financial institutions and guarantee companies. Any enterprise whose business registration or actual operation address is in the Biomedical Valley and has been included in the “white list” recommended by the Life and Health Industry Development Management Office of Jiangbei New Area can apply for it.
After the enterprise applies, we and the bank will conduct risk control. Enterprise environmental impact assessment, tax credit, credit reporting, etc., are all key evaluation points. At the same time, the technological strength and product value of the enterprise will also be taken into consideration. Fan Xiaotao said that this is more like “guaranteeing with an investment perspective”, which not only provides efficient and convenient financial services for high-quality enterprises with financing needs, but also promotes the high-quality development of the regional economy.
The launch of “Xinyao Loan” has broadened the financing channels for enterprises in the Medicine Valley. The smooth arrival of funds one after another has also driven the rapid growth of one project after another.
Not only innovative financial products, but in July, a precise matchmaking event was also held in the Biomedical Valley of the new district, providing a platform for communication and connection between high-quality biomedical projects and professional investors. Eventually, it attracted nearly a hundred investment institutions and financial institutions to attend.
The support of financial power has injected a “source of fresh water” into the development of industries. Under the Dragon King Mountain, there will be even more surging energy.
