Qilu Bank has emerged as a key player in supporting small and micro-sized enterprises (SMEs), demonstrating its commitment to the development of the real economy. Through strategic use of financial tools, the bank has provided tangible benefits to customers, particularly small businesses, as part of a broader initiative to bolster economic growth.
At the close of 2024, Qilu Bank assisted a small business owner in Jinan, identified only as Ms. Qiao, who was facing a cash flow crunch. Qiao, a wholesaler of peanut oil based in the Changqing district, needed immediate funds to stock up for the year-end holiday season. In response, the Changqing district Human Resources and Social Security Bureau quickly connected Qiao with Qilu Bank. A joint visit to her business followed, where the bank and bureau worked together to assess her needs.
“As the Spring Festival approaches, our orders from supermarkets are increasing, and we have already reserved warehouse space. We just need additional funds for year-end stocking,” Qiao explained during the visit.
The Human Resources and Social Security Bureau found that Qiao’s business, which employs demobilized soldiers and disabled workers, had contributed significantly to local employment. The company had also paid social insurance for its employees, which further aligned with the government’s employment support initiatives.
In response, Qilu Bank expedited the application process for a loan, leveraging its specialized channels to ensure swift approval. Within a single day, the bank secured a 1.7 million yuan ($233,532) loan for Qiao at an interest rate of just 1.8%, thanks to government subsidies. Overwhelmed with gratitude, Qiao visited the bank to express her thanks upon receiving the funds.
Qilu Bank’s proactive approach is part of a wider effort to strengthen financial support for small businesses. Since October 2024, the bank has been actively engaging with the coordination mechanism for SME financing, spearheaded by the National Financial Regulatory Administration and the National Development and Reform Commission. This initiative, along with the implementation of the “338” working mechanism, has led to significant advancements in financial service efficiency.
By forming dedicated teams and leveraging specialized resources, Qilu Bank has streamlined the approval process for small business financing. The bank has introduced various measures, including interest-free loan renewals, due diligence exemptions, and special approval channels, which have contributed to the disbursement of over 12 billion yuan in loans to nearly 3,900 clients. To date, Qilu Bank has approved more than 15 billion yuan in credit.
In its push to modernize and enhance financial inclusivity, Qilu Bank has also embraced digital transformation. The bank’s innovative Qilu e-Finance platform uses artificial intelligence and big data to match small businesses with personalized financial solutions. Through the WeChat mini-program, customers can now access financing options with ease. Since its launch, Qilu e-Finance has provided over 550 million yuan in funding to SMEs.
Qilu Bank’s efforts underscore its ongoing commitment to supporting the growth of small and micro-enterprises. By bridging the financial gap for these businesses, the bank plays a crucial role in driving the development of the real economy and ensuring long-term economic sustainability.
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