A SCHEME that provides guaranteed loans of up to 2 million yuan (US$315,500) to young entrepreneurs is set to be extended as the government seeks to support new businesses and stimulate the jobs market, officials said yesterday.

While such funding is already available to small and micro-firms, the scheme is soon to be rolled out to (almost) anyone who needs financial support to get a business up and running, the Shanghai Human Resources and Social Securities Bureau said.

To qualify for a loan, applicants will need to be a Shanghai native — in possession of a residence permit — or a non-native under 35 who is currently studying at or has graduated from a local university, the bureau said.