Ontario, CA— (June 6, 2018) – Kiwa Bio-Tech Products Group Corp. (OTCQB: KWBT) (“Kiwa Bio-Tech” or “the Company”), a leading agricultural biotechnology company that develops and manufactures microbial fertilizers for use in the multi-billion food industry is pleased to announce that the Company has established a cooperative relationship with Postal Savings Bank of China Co., Ltd. (“PSBC”) Shaanxi Branch to begin an agricultural finance program for Kiwa Bio-Tech Products Group clients.
Kiwa Bio-Tech’s CEO Ms. Wang stated, “We believe the loan program with PSBC will greatly increase the sales of our bio-fertilizers. From a financial accounting perspective, we expect to significantly shorten the payment time from our clients and subsequently reduce accounts receivables. Farmers will benefit from the program as it allows them financing to expand their business as well.”
PSBC will be providing a fixed rate loan for customers. The agricultural loan program will deliver financing to family farms, crops growers, farmers’ professional cooperatives, agricultural service organizations, micro-agricultural enterprises, and other customers. The loan program is initially set for 20 million Yuan (approximately 3.1 million dollars).
After signing a purchase agreement with Kiwa Bio-Tech, the customers can now apply for a loan from PSBC after meeting the loan requirements for purchasing Kiwa Bio-Tech’s fertilizer products. The agricultural finance program will first be started in the areas where Kiwa Bio-Tech has opened their retail outlet stores including Tongchuan City and Huyi District of Xi’an City and Fu County. The program will then expand into the other areas in Shaanxi Province.
The agricultural finance program is a part of Kiwa Bio-Tech’s “Three-Part Marketing Model”. The purpose of launching the loan program is to help the local agricultural industry and farmers. From a long-term perspective, agricultural finance is strategically important for eradicating extreme poverty and boosting prosperity.
About Kiwa Bio-Tech Products Group Corp.
Leader in Eco-friendly Agricultural Industry Chain
Kiwa Bio-Tech Products Group Corp. (KWBT) is a publicly traded company with corporate headquarters in the United States. The company develops, manufacture, markets and distributes innovative and environmentally safe bio-technological products for agriculture. Kiwa’s focus is to positively impact the environment by reducing the amount of chemicals that are being used by agricultural growers in China.
Kiwa Bio-Tech Products Group corp. products are covered by patent protection and are designed to enhance the quality of human life by increasing the value and productivity of agricultural crops.
For more information on Kiwa Bio-Tech Products Group Corp. or its bio-fertilizer products and smart soil remediation technology, please refer to the Company’s website at www.kiwabiotech.com or the Company filings with the United States Securities and Exchange Commission at www.sec.gov.
This press release contains information that constitutes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Any such forward-looking statements involve risk and uncertainties that could cause actual results to differ materially from any future results described by the forward-looking statements. Risk factors that could contribute to such differences include those matters more fully disclosed in the Company’s reports filed with the U.S. Securities and Exchange Commission. The forward-looking information provided herein represents the Company’s estimates as of the date of the press release, and subsequent events and developments may cause the Company’s estimates to change. The Company’s actual results may differ materially from those anticipated in the forward-looking statements depending on a number of risk factors including, but not limited to, the following: general economic, business and environment conditions, development, shipment, market acceptance, additional competition from existing and new competitors, changes in technology, the execution of its ten-year growth plan, the foreign exchange risk amid the unexpected announcements by the PRC government and various other factors beyond the Company’s control. Kiwa Bio-Tech Products Group Corp. specifically disclaims any obligation to update the forward-looking information in the future. Therefore, this forward-looking information should not be relied upon as representing the Company’s estimates of its future financial performance as of any date subsequent to the date of this press release
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