Ctrips YiQiZhuang aims to ease financial burdens experienced by small to medium-sized hotels and marks Ctrips first step into the Travel Supply China financing.
According to Ctrip Finance, YiQiZhuang will offer two types of loans for hotels. The first type serves customers wishing to upgrade, decorate or renovation their hotels. This type of loan has an upper limit of RMB 10 million, with the term of the loan lasting between 1 and 3 years. The second type of loan is a smaller capital loan, of amounts up to RMB 1 million and with loan term of up to 2 years. This type of loan is for upgrading facilities, hotel expansion and partial renovation. Any qualified hotel is able to directly apply for YiQiZhuang loan from Ctrip.
Ctrip has signed cooperation agreements with various banks such as Huaxia Bank and Beijing Zhongguancun Bank, ensuring sustained capital and ensuring that small and medium-sized hotels have access to convenient financial loans.
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