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Dingyang Rural Credit Cooperative innovated the loan method to give the positive ideas and suggestions for some enterprises under the technological transformation and also boost them to realize the upgrading of technology.
Minxing Bearing Co., Ltd is a company specialized in producing bearing ring for Sitong Bearing Company. The company plans to introduce a new taper cold extrusion production line this year, but it has 2 million yuan funding gap, so they have to apply for a loan from the bank. Under snch circumstances, persons in charge of the cooperative association of Dingyang Rural Credit Cooperative began to help them solve this issue. According to the actual situation of the company, Dingyang Rural Credit Cooperative specially designed a new loan method, which made the floating interest rate decrese by 30% and also saved more than 70000 yuan for the company.
At the same time, workers in the credit cooperative also shortened the deadlines for applying for the loan, from the original 15 days to 3 days, which helped the company to the great extent.
The leader in Minxing Bearing Co., Ltd Huang Gaiming said:"Dingyang Credit Cooperative provide us financial support during the very important time for the technology transformation in our company, as the leader in the erterprise, I want to express my sincere thanks to them. And we will put more efforts on the technology transformation and the expansion of the new projects as soon as the funds are available.
| Product Model | Inside Diameter | Outside Diameter | Thickness |
| 2206TV bearing | 30 | 62 | 20 |
| 2206K.TV.C3 bearing | 30 | 62 | 20 |