Since the start of work resumption after the Spring Festival holiday, a state-owned financing guarantee company in Beijing has helped 48 small- and medium-sized enterprises (SMEs) in the cultural tourism and restaurant businesses to secure 243 million yuan (about US$34 million) in additional credit lines.

One of the SMEs, Enjoy Your Coffee, has been faced with decreased revenue and increased costs since the outbreak. Upon receiving its request, Guohua Culture and Technology Financing Guarantee put forward a guarantee plan, and helped securing the coffeehouse chain a 1-million-yuan credit from the Bank of Beijing with a guarantee period of up to 24 months.

The restaurant chain Full Kitchen also benefited from financing support by Guohua. Located in a large technology and cultural tourism industrial park, its operation was struck by the deferred work resumption in early February. Guohua helped it secure credit line of 3 million yuan from the China Merchants Bank (CMB), enabling Full Kitchen's 25 restaurants in Beijing to fully resume work.

Also in coordination with CMB, Guohua facilitated restaurant chains Citygarden and Baman with 5 million yuan and 3 million yuan credit lines, respectively. After addressing operational emergencies with the new funds, the two SMEs have seen continuously increasing businesses.

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