Jiangsu Rugao Rural Commercial Bank in Rugao, a county-level city in Nantong, recently rolled out six measures to help local companies get through the ongoing novel coronavirus pneumonia outbreak.

The bank has prepared 1.5 billion yuan to lend to businesses facing financial difficulties due to the outbreak. It also promised not to require early payback of the loans or to cut off or delay loans to businesses that have been affected by the epidemic or are encountering difficulties. 

Green channels will be set up to handle loans for clients in need, including companies in need of funds to resume operations and small and micros-sized companies that produce essential supplies to help fight the virus. The interest rate will be as low as 4.35 percent.

Clients are encouraged to apply for loans on the bank's official WeChat account or through the bank's mobile banking services. The bank will offer 24-hour online services.

Officials said that administrative procedures have also been streamlined. Generally, loans will be approved within two working days, while urgent loans can be approved within 24 hours.

The bank will also defer repayment of loans for clients facing difficulties. For those who are infected, under quarantine, or engaged in the fight against the virus, there will be no overdue fines or credit score deductions.