CCTV News: The reporter learned from the Ministry of Veterans Affairs that the State Administration for Financial Supervision and the Ministry of Veterans Affairs recently jointly issued a new policy to carry out entrepreneurship loans for veterans, further improve the quality and efficiency of financial services for veterans, and strongly support veterans' entrepreneurship and innovation.

The support objects of this retired military entrepreneurship loan include retired soldiers who start their own businesses, retired military individual business households, small and medium-sized enterprises founded by retired military personnel, and farmers' professional cooperatives.

Bank institutions should reasonably determine the loan amount and term based on the actual situation of the support objects and the use needs, and advocate the implementation of one-time credit, borrowing and repaying, and recycling within three years. At the same time, we will make full use of information such as military merit and honors obtained by retired soldiers, give priority to customer access, loan amount and term, continuously optimize credit processes, and improve approval efficiency.

At the same time, banks should also open a green channel for entrepreneurship loans for retired military personnel, shorten the approval time, and improve service efficiency. The state encourages banking institutions to develop exclusive credit products that support retired soldiers' entrepreneurship, and strive to meet the financing needs of support recipients.

In addition, the two departments have made it clear that the loan funds can only be used to support the target's own production and operation, and shall not be used for non-productive expenditures such as house purchase, investment, and financial management, and shall not be used for other purposes.

The reporter learned that as of now, Jiangsu, Henan, Anhui and other places have successfully issued the first batch of retired military entrepreneurial loans.

News link: How to apply for a veteran entrepreneurial loan

The state has issued policy support, how can the majority of veteran entrepreneurial entrepreneurial groups apply for a entrepreneurial loan? What are the processes? Let’s learn about it together.

First, the support object with loan needs submits an application to the municipal or county-level veterans affairs department, and independently selects one bank of interest among the hosting banks.

After receiving the application, local veterans affairs departments at all levels must verify their retired military status, and promptly push the list of support objects in need to the bank undertaking on a daily basis, based on daily contact and understanding the support objects and the business entities they founded.

Finally, for the approved support objects, the bank must not only issue loans in a timely manner, but also regularly visit the support objects, do a good job in post-loan services, and track and monitor the use of loan funds, repayment sources, etc.

News Tips: Preventing and controlling the entrepreneurship credit risks of retired soldiers

Entrepreneurship funds are the key to opening the door to entrepreneurship. How to prevent credit risks after retired soldiers obtain entrepreneurship loans? Let’s see the tips from the financial sector.

First of all, it is recommended that retired soldiers should fully understand the relevant national policies, compare them from multiple aspects such as loan amount, interest rate pricing, and repayment policies, and finally choose formal financial institutions and loan products that suit them.

Secondly, after applying for a loan, you must repay the loan on time to avoid overdue and arrears, and do not easily sign a guarantee agreement or document for others, and cherish your credit history.

At the same time, for retired soldiers with conditions and willingness to start a business, veterans affairs departments at all levels should carry out targeted interpretation of credit policies, experience sharing, practical guidance, financial risk warnings, etc.; the State Administration for Financial Regulation should also guide banking institutions to actively publicize financial policies to veterans, popularize financial knowledge, and improve veterans' financial awareness and risk prevention and control capabilities.