KWBT
I would like to share an exciting news regarding to the Company has established a cooperative relationship with Postal Savings Bank of China Co., Ltd. (“PSBC”) Shaanxi Branch to begin an agricultural finance program for Kiwa Bio-Tech Products Group clients.PSBC will be providing a fixed rate loan for customers. The agricultural loan program will deliver financing to family farms, crops growers, farmers’ professional cooperatives, agricultural service organizations, micro-agricultural enterprises, and other customers. The loan program is initially set for 20 million Yuan (approximately 3.1 million dollars).I have attached the content and the link of the News Release. Please have a review.
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Kiwa Bio-Tech Products Group Corp. Launches Agricultural Financing Program
Ontario, CA— (June 6, 2018) – Kiwa Bio-Tech Products Group Corp. (OTCQB: KWBT) (“Kiwa Bio-Tech” or “the Company”), a leading agricultural biotechnology company that develops and manufactures microbial fertilizers for use in the multi-billion food industry is pleased to announce that the Company has established a cooperative relationship with Postal Savings Bank of China Co., Ltd. (“PSBC”) Shaanxi Branch to begin an agricultural finance program for Kiwa Bio-Tech Products Group clients.
Kiwa Bio-Tech’s CEO Ms. Wang stated, “We believe the loan program with PSBC will greatly increase the sales of our bio-fertilizers. From a financial accounting perspective, we expect to significantly shorten the payment time from our clients and subsequently reduce accounts receivables. Farmers will benefit from the program as it allows them financing to expand their business as well.”
PSBC will be providing a fixed rate loan for customers. The agricultural loan program will deliver financing to family farms, crops growers, farmers’ professional cooperatives, agricultural service organizations, micro-agricultural enterprises, and other customers. The loan program is initially set for 20 million Yuan (approximately 3.1 million dollars).
After signing a purchase agreement with Kiwa Bio-Tech, the customers can now apply for a loan from PSBC after meeting the loan requirements for purchasing Kiwa Bio-Tech’s fertilizer products. The agricultural finance program will first be started in the areas where Kiwa Bio-Tech has opened their retail outlet stores including Tongchuan City and Huyi District of Xi’an City and Fu County. The program will then expand into the other areas in Shaanxi Province.
The agricultural finance program is a part of Kiwa Bio-Tech’s “Three-Part Marketing Model”. The purpose of launching the loan program is to help the local agricultural industry and farmers. From a long-term perspective, agricultural finance is strategically important for eradicating extreme poverty and boosting prosperity.
