01. Regarding the time and background of the implementation of the policy in 2015, in order to implement the "Guiding Opinions of the General Office of the State Council on Developing Maker Spaces to Promote Mass Innovation and Entrepreneurship" and the "Opinions of the State Council on Further Improving Employment and Entrepreneurship under the New Situation", etc.

Two documents, the Zhejiang Provincial Government issued the "Opinions on Supporting Mass Entrepreneurship and Promoting Employment."

The policy stipulates that college students and urban and rural workers who have entrepreneurial requirements and certain entrepreneurial conditions but lack entrepreneurial funds can apply for a loan of no more than 300,000 yuan to establish an individual business; those who operate a partnership or start a business can appropriately increase the loan amount

.

In 2018, the Zhejiang Provincial Government issued the "Implementation Opinions on Promoting Employment in the Current and Future Periods", raising the maximum loan amount to 500,000 yuan.

The main purpose of this policy introduced in 2015 is to reduce the burden and concerns of key groups, including college students, in entrepreneurship by establishing a fault-tolerant mechanism for entrepreneurship guarantee fund compensation, create an atmosphere that encourages entrepreneurship and tolerates failure, and solves the problem of entrepreneurship, including college students.

Key groups within the group have problems such as no money if they want to start a business, no one to help them if they want to improve their entrepreneurial abilities, and no one to care if their business fails.

02. Regarding the policies for those who can apply for entrepreneurial guaranteed loans, all first-time entrepreneurs in Zhejiang can apply for entrepreneurial guaranteed loans.

Among them, five categories of people, including college students or college graduates within 5 years of graduation, people registered as unemployed for more than half a year, people with employment difficulties, retired military personnel, and certified disabled people, can apply for loans guaranteed by the entrepreneurship guarantee fund established by the government.

03. Regarding the procedures and policies for college students to apply for entrepreneurship guaranteed loans, applications for entrepreneurship guaranteed loans must go through two procedures: First, the human resources and social security department organizes experts to review the entrepreneurship projects, and after passing, a loan guaranteed by the entrepreneurship guarantee fund will be issued to the college students.

Qualification certificate; second, college students submit a loan application to the handling bank with the qualification certificate and relevant materials, and the handling bank will then investigate the status of the college students' entrepreneurial projects, credit status, and debt repayment ability.

After passing the review, the entrepreneurship guarantee fund established by the government will provide guarantees for college students, and the handling banks will issue loans to college students.

After college students repay the principal and interest of the loan on time, they can apply for an interest discount from the human resources and social security department with the repayment certificate issued by the handling bank.

04. Regarding the implementation of the compensation mechanism for entrepreneurial failure. Due to the failure of starting a business and being unable to repay the loan, the loan guaranteed by the entrepreneurial guarantee fund established by the government is deemed to be non-performing. If the loan is less than 100,000 yuan, the entire loan will be repaid by the entrepreneurial guarantee fund.

; For loans of more than 100,000 yuan but less than 500,000 yuan, 80% will be reimbursed by the Entrepreneurship Guarantee Fund.

At the same time, the implementation measures also clarify the recovery and write-off mechanism. In principle, compensation must be recovered after compensation, but if there is really no ability to repay, it will be written off from the entrepreneurship guarantee fund after approval according to the prescribed procedures.