Taitung County Prosperity Home Loan Accompanies the Growth of Taitung's Industries

In recent years, industries at all levels in Taitung have flourished, and the endless streams of visitors have also brought in money, driving the overall economic development of Taitung County. According to statistics, commercial revenue in Taitung County reached nearly 80 billion in 2014, setting a new record high.

To encourage young people to return to their hometowns to start businesses and help local operators expand their operations, the county government specially launched the "Taitung County Prosperity Home Loan" program starting in February this year, providing county residents with the financing needed to start and run businesses. It features a low interest rate of 1% for the first three years, no collateral required and no guarantor required, offering the public quality loan terms.

Since the "Taitung County Prosperity Home Loan" was launched, statistics to date show that a total of 72 Prosperity Home Loan applications have been approved, with cumulative approved amounts reaching 50 million. Common types of rejected cases and suggestions are as follows:

1. Most lack revenue records or have poor credit status: here it is suggested that operators take more courses related to financial planning to build the habit of keeping their own accounts and maintain good credit status, making it easier to obtain government-subsidized financing resources.

2. Betel nut stands and betel leaf growers: in recent years the government has actively assisted betel nut stands and betel leaf growers in changing occupations, so applications from such businesses for financing loans in principle cannot obtain approval; therefore, if such industries have needs for transformation, they are welcome to consult the one-stop office for services.

In addition, the "Taitung County Prosperity Home Loan" follows the operating regulations of the lending banks. Except for industry categories such as "road engineering," "other civil engineering," "mechanical, electrical, telecommunications and circuit equipment installation," and "refrigeration, air conditioning and pipeline engineering," other operators, after their loans are approved under the program, can bring the approval notice to the lending bank and complete the loan procedures, after which funds can be disbursed within 14 days.

The Taitung County Government is expected to conduct the fifth round of plan review on July 1. If those starting businesses or industries with funding needs have any questions about the Taitung County Prosperity Home Loan program, they are welcome to contact the "Taitung County One-Stop Industry Counseling Center" (located in the Finance and Economic Development Department on the second floor of the county government) or call 340681 or 321180 for inquiries.