Chongqing - In a recent interview with Bridging News, Cao Jing, Executive President of Bolaa Network, a Chongqing-based tech startup, pointed out the difficulty in securing the financial support needed to upgrade its services and better meet customer needs.

Cao mentioned that he discovered banks are willing to provide funds for large projects or expand the company's team. 

A bank representative pointed out that they are primarily concerned with startups' uncertain futures, underdeveloped management teams, unstable orders, weak overall risk resistance, and the resulting high risk of bad debts.

Pei Shengchun from the Chongqing Municipal Financial Office emphasized the launch of the "New Chongqing Talent Loan" to tackle these concerns and meet financing demands.

This initiative allows talent enterprises to apply for loans ranging from 15 to 30 million RMB, with eligible SMEs benefiting from preferential interest rates as low as 2.8% to 3%.

"With this funding, our company has expanded its team by hiring industry experts and experienced professionals and increased investment in cutting-edge areas like AIGC and intelligent computing," Cao commented.

Chongqing aims to strengthen financial support for tech startups through a unified system, concentrating on attracting top talent and building a unique brand in talent financial services.

(Ma Manlin, as an intern, also contributed to this report.)