Teamaker’s Woe Signals China Fund Deficit for Entrepreneurs
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Dai Jinlian has created more than 200 jobs for villagers picking tea leaves in China’s Zhejiang province since 2008. That wasn’t enough to qualify her for a loan from the nation’s state-controlled banking system.
The 65-year-old grandmother, who was denied a 40,000 yuan ($6,500) loan in 2009, relies instead on retained earnings to fund the business she started with 300,000 yuan in savings.