Qilu Bank's 'Kitchen Appliance Loan' accelerates support for local industry development in Binzhou

In response to corporate needs for equipment upgrades and capacity expansion, Qilu Bank's Binzhou branch optimized its product design and approval processes, launching the specialized "Kitchen Appliance Loan" financial product to precisely address the financing challenges faced by local kitchen appliance enterprises to accelerate the thriving commercial kitchen industry.

Xingfu town in Boxing county, Shandong province, the core production hub for commercial kitchen equipment in the province, has built the nation's most complete industrial chain for commercial kitchen appliances over more than 40 years of development. Leveraging the county's status as the largest steel processing and distribution center in northern China, the town has earned the title "Capital of Commercial Kitchen Equipment in China". It holds over 40 percent of the national market share and more than 90 percent within Shandong province. The cluster hosts over 2,800 large-scale production and operating enterprises (excluding individual businesses), employs over 45,000 people, and has fostered well-known brands such as Lubao, Huangguan, Huiquan, and Jinbaite. The industry boasts 14 Shandong Famous Brands and 21 Shandong Famous Trademarks, demonstrating a solid foundation and significant potential.

The transformation of Shandong Zhenglian Kitchenware Co, Ltd serves as a vivid example of the loan's impact. Specializing in R&D and manufacturing of commercial noodle cooking pots, the company operated three production workshops, but faced intense competition within the Xingfu town incubation park and industry upgrade pressures. In the first half of 2025, the company's owner found that peers were securing orders through equipment upgrades, while his own company, constrained by a lack of funds, was stuck with idle workshop space and unable to accept orders — a predicament that caused immense anxiety.

The turning point came when an account manager from Qilu Bank's Boxing branch proactively visited the company. After understanding the financing needs and loan purpose, the manager recommended the "Kitchen Appliance Loan". Supported by credit enhancement from government financing guarantee institutions, this product not only improves the loan approval rate for kitchen appliance enterprises, but also increases their credit lines.

The entire process, from preparing basic operational documents to the successful disbursement of a 2-million –yuan loan, took less than three days. These timely funds enabled the company to purchase new production equipment, create 20 new jobs, and expand production capacity by 40 percent — resolving the owner's pressing concerns.

Since the beginning of this year, Qilu Bank's Binzhou branch has provided credit support exceeding 20 million yuan to nearly 30 kitchen appliance manufacturers via the "Kitchen Appliance Loan".

In recent years, the branch has deeply implemented its inclusive finance strategy, creating a "one-county, multiple-products" service system tailored to local characteristic industries. It has innovatively developed more than ten inclusive financial products including Fishing Net Loan, Beef Cattle Breeding Loan, XINGDI Revitalization Loan, Kitchen Appliance Loan, Color Steel Loan, Common Prosperity Loan, Grain Planting Loan, Home Furnishing Loan, and Rope and Net Loan. In the first half of the year, new disbursements surpassed 260 million yuan, truly achieving the principle of "what industry needs, finance supplies".

Looking ahead, Qilu Bank's Binzhou branch will further enhance its financial service capabilities, continue to identify pain points in local industries, and launch more customized financial solutions. Through more precise and efficient services, the branch aims to support the expansion and strengthening of local industries.