ICBC launches online finance tool
(11 December 2009 – China) The Industrial and Commercial Bank of China has officially opened its ICBC Online Financing Centre in Hangzhou, Zhejiang, creating an effective tool for small and medium businesses.
Changing China’s conventional lending process, the new ICBC online financing service uses electronic means, across the entire lending process. Companies who wish to get a loan from ICBC can finish all the steps from application, approval, and drawdown to repayment online without the hassle of running to the bank.
The service will increase time effectiveness for small-and-medium to micro enterprises when obtaining financing in a short time, in a frequent and quick fashion.
The ‘Easy Finance Link Joint Guarantee Loan’ is a case of online finance where financing is offered to small-and-medium enterprises under joint-guarantee.
This effectively solves the mortgage issue that SME’s face and enables them to apply for revolving loans via Internet Banking.
A spokesperson for ICBC said that the launch of ICBC online financing services in Zhejiang will boost the network economy of Zhejiang and will make it easier for small and medium enterprises to obtain bank loans.
The service will increase time effectiveness for small-and-medium to micro enterprises when obtaining financing in a short time, in a frequent and quick fashion.
The ‘Easy Finance Link Joint Guarantee Loan’ is a case of online finance where financing is offered to small-and-medium enterprises under joint-guarantee.
This effectively solves the mortgage issue that SME’s face and enables them to apply for revolving loans via Internet Banking.
A spokesperson for ICBC said that the launch of ICBC online financing services in Zhejiang will boost the network economy of Zhejiang and will make it easier for small and medium enterprises to obtain bank loans.
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