A start-up loan guarantee center targeting college graduates was launched in Baotou, Inner Mongolia autonomous region, on Oct 26, to encourage entrepreneurship and innovation, Baotou Daily reported on Oct 27.
The center will recommend college graduates who are qualified to start their own businesses to the financial sector and offer guarantee services to the applicants free of charge.
Baotou, Inner Mongolia, has enacted policies concerning loans for college graduates. According to the policies, the loan amount will be 100,000 yuan ($15,000) with one guarantor, 200,000 yuan with two guarantors. The loans will mature in three years, one year longer than before.
The launching ceremony also saw the establishment of an online platform for start-up loan guarantees, which combines the Internet with the loan procedure.The platform will ease the loan application procedure and enable the applicantsto get informed of any changes that occur during the application.
Much emphasis has been placed on the employment of college graduates in Baotou, with the issuing of an initiative on college graduate recruitment by the people’s government of Baotou in August, aiming to find employment for 200,000 college graduates by 2020. Also, a public service center featuring consultations on recruitment formalities was set up the same month.