OREANDA-NEWS. March 31, 2011. In a recent announcement of ICBC Guangdong Branch, since the launch of Online Loan Link services in March 2010 to the end of the year, the Branch has signed loan contract with nearly 3000 customers totaling almost RMB 25 billion, to a cumulative total of RMB 28.9 billion. Balance of Online Loan Link loans accounts for 35% of all loans to micro-and-small enterprises. Among the domestic branches, ICBC Guangdong is the largest tier-1 branch in terms of the scale of this business, reported the press-centre of ICBC.

Online Loan Link is a unique service of Guangdong Branch leveraging ICBC's competitive advantages in network, brand, scale, technology and financial strength. This is a tailored solution for VIP customers of small and mid corporate segment to obtain loans "in a short time, in a frequent and quick fashion". Once a company signs contract with ICBC on revolving small business loan one-time, it can draw loan within the limit or repay loan via ICBC Corporate Internet Banking during the validity period of the contract.

To the small-and-medium enterprises, the Online Loan Link has many distinctive advantages, as related by the ICBC executive:

I. Leading technology, highly efficient and convenient. ICBC's Online Loan Link is the only service currently available in the market for ICBC customers to draw loan via internet banking, pay loan automatically and get loan in real-time. Anytime, anywhere the borrower can apply and repay without restriction to draw cash in case of emergency. Moreover, no more hassle in running to the bank, save time and effort, fast, easy and convenient.

II. Special credit line for drawdown protection. ICBC Guangdong Branch allocates special credit line for customers of Online Loan Link, companies can draw loans anytime within the line of credit to maintain normal running of business.

III. Save cost. Interest on Online Loan Link is based on the interest rate of certificate of indebtedness and number of days of the loan being actually used. No interest calculated on the credit line not yet used. To ensure the efficient use of company funds, customers can borrow and repay anytime depending on the collection of receivables with the aim to save the financial cost. Take the current benchmark interest rate of 1-year liquidity loan, if a loan of RMB 10 million can save 60 days of service period in a year, nearly RMB 100,000 of financial cost can be saved. To the bank, since the "Online Loan Link" is basically a self-service for customers to apply loans online via Internet Banking, this means a saving in labor and cost and the loan capital occupied, the improvement in asset income and a true win-win scenario for ICBC and the small companies.