Kiwa Bio-Tech announces 100 million (RMB) loan program to boost agriculture production in China
Apr. 9, 2020
Mr. Wade Li, CEO of Kiwa Bio-Tech commented, “SACFG is a guarantee company of the Shaanxi Provincial Government. SACFG highly recognizes the Company’s business development in Shaanxi and will support the implementation of Company’s Trinity marketing strategy in the province. Providing loans to Kiwa’s customers will greatly reduce the proportion of accounts receivable in sales of fertilizer, optimize operation structure, and improve financial management capabilities.”
Mr. Man Yun, CFO of Kiwa Bio-Tech commented, “It is the first time that we have utilized bank lending facilities in nearly 20 years. This credit facility will enhance our cash flow and enable us to accelerate production and sales. At present, we have several convertible notes in the United States of America which mature in the current fiscal year and we have started negotiations with these convertible notes holders regarding repayment. We are striving to reach agreement with these creditors and repay these convertible notes in cash by the end of April 2020.”
More from AgroNews
Subscribe to daily email alerts of AgroNews.