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Yulon Chemical is a private small and medium-sized chemical enterprise that produces paint coatings. The company has developed the “aqueous phase grafted and manufactured ternary copolymerized chlorinated polyethylene†technology that has obtained national invention patents in recent years. Although it has patented technology, Yulon Chemical, like many small and medium-sized chemical companies, faces the problem of insufficient funds for development. In order to expand production capacity, the company has borrowed money from all directions, and the plant and equipment that can be used as collateral are basically mortgaged, but the funding gap is still very large.
While they were frustrated by financing difficulties, in March this year, Fenghua Sub-branch of the People's Bank of China and Fenghua Science and Technology Bureau jointly issued the “Opinions on Implementing Pledge Loan for Patent Rights in Fenghua Cityâ€. According to this policy, as long as the company pledges the invention patent granted by the State Intellectual Property Office, it can apply to the local bank for a patent pledge loan. Yulon Chemical applied for this information. What they did not expect was that they really got a loan.
The patent right pledged to obtain a loan finally solved the capital problem of the enterprise development. Wang Libo, chairman of Yulon Chemical, said: “The patent pledge loan has achieved the transformation of scientific and technological achievements and transformed the 'knowledge base' into 'capital', effectively cracking down on the financing difficulties of hi-tech companies.â€
Of course, there is more than one Yulon chemical company. In June this year, the Beijing Municipal Commission of Science and Technology and the Bank of Communications held a joint conference on IP pledge loan results. Five small and medium-sized chemical companies, including Beijing Kerui Bio-pharmaceutical Technology Co., Ltd. and Beijing Spiro Technology Development Co., Ltd., pledged intellectual property rights. Got a loan. "Through the pledge of patent loans, our company has not only obtained more liquidity, but also the gap in the corporate credit system may change." Said Qi Qing, chairman of the company.
According to Qi Qing, after the company obtained the first loan of 1.5 million yuan, the company was able to develop rapidly and has now repaid on time and began to apply for a second loan. Prior to this, the company did not borrow a penny from the bank. In 1995, Corrie had received a loan quota of 15 million yuan from the Torch Program of the Ministry of Science and Technology. However, because there was no fixed assets that could be mortgaged, and no one could provide guarantees, they had to watch the loss of loans that could be reached. Due to the lack of financial support, new products that the company is developing have been blocked, counterfeit products have appeared in the market, and corporate development has once been in trouble. In 1997, Kerui was favored by the Torch Program of the Ministry of Science and Technology and obtained a credit line of 22 million yuan. However, for the same reasons, the opportunity for rapid development once again missed the company.
In the country, there are many small and medium-sized enterprises like Kerui, which suffered from shortage of funds. According to the data, at present, there are 20,000 to 30,000 small and medium-sized chemical companies in China, accounting for more than 90% of the total chemical companies. A considerable number of small and medium-sized chemical companies have great potential for development, but there are widespread financing difficulties. Some companies have independent intellectual property rights, but because of lack of funds, they cannot turn scientific and technological achievements into productivity, making it difficult for these small and medium-sized chemical companies with development potential to develop. These companies also have painful loan experiences. The emergence of patent-pledged loans has enabled these companies to obtain a smooth channel to solve financing problems. More importantly, intellectual property can be used as a loan for mortgages, and its commercial value is recognized by the market. In fact, it is also an encouragement for the spirit of innovation of the enterprise by the government and banks.
Not long ago, Zhejiang Fenghua Yulong Chemical New Material Co., Ltd. obtained a loan. In the course of obtaining the loan, the company did not mortgage the plant and equipment, but only borrowed a paper patent certificate to lend 8 million yuan from the bank. Yulon’s fortunate treatment shows that the “knowledge†for “capital†is becoming an important channel for small and medium-sized chemical companies to solve financing problems.