Lanzhou, capital of Northwest China's Gansu province, started a month-long publicity activity featuring business guaranteed loan policies on March 1, aiming to encourage entrepreneurship and create more employment opportunities.

People learn about the entrepreneurship guaranteed loans in Lanzhou, Northwest China's Gansu province on March 1. [Photo by Zhang Jing/chinanews.com]

During the launch ceremony, Lanzhou Bank and Postal Savings Bank issued 4.4 million yuan ($696,080) in guaranteed loans for small and micro enterprises and self-employed entrepreneurs.

Accordingly, more efforts will be made to improve financial publicity in other parts of society, including industrial bases, schools, markets and communities.

"I am in a dilemma -- If I close my shop, I will lose my ability to repay the borrowed money, but if not, I'm going to face cash flow difficulties," said local agritainment provider Li Zhancun. 

Years ago, Li borrowed some money from relatives and started an agritainment shop in her house. "The business is not going well due to my lack of experience, plus the sudden COVID-19 pandemic," Li added.

Last December, Li learned about the guaranteed loan from the city's careers service center officials. She then uploaded and submitted written materials after passing the online review. With money in her account, the businesswoman got over the hump.