"Approved by the head office, our bank is about to provide the credit line of 50 million Yuan for the fastener enterprises under Zhenhai Fastener Industry Association”, BOC Fullerton Community Bank president Pan Hongwei said in the SME bank-enterprise exchange meeting held by Ningbo  Zhenhai Federation of Industry and Commerce on August 22, 2012.

There were many small and medium-sized private enterprises in Zhenhai District, Ningbo, Zhejiang, China. They were confronted with serious challenges brought by restricted resource, difficult industrial restructuring, and complicated economic situation. "Solving the problem of shortage of funds has become the important task to boost confidence in the enterprise development”, said Mr. Xu Li, vice chairman of Zhenhai District Federation of Industry and Commerce and president of Zhenhai Fastener Industry Association when he visited enterprises and banks frequently to build a bank-enterprise docking platform.

Currently, small and medium-sized enterprises in Zhenhai district were under the development period from small to big and from weak to strong. They urgently needed to solve the loan problem with the support of financial institutions. BOC Fullerton Village Bank stationed in Zhenhai soon, meeting enterprise needs and innovating financial products.

“After negotiating with Zhenhai District Federation of Industry and Commerce for many times, head office finally approved the credit line of 50 million Yuan, which opened finial channels, expanded the range of collateral, and relaxed the conditions to allow mortgage of chattel equipments and vehicles. The member enterprises under Zhenhai Fastener Industry Association will receive a loan of 2 to 3 million Yuan”, said Pan Hongwei, president of BOC Fullerton Community Bank president.

BOC Fullerton Village Bank and Zhenhai Fastener Industry Association signed the memorandum of credit extension in the SME bank-enterprise exchange meeting. After that several fastener enterprises began to apply for the loan formalities.