Pawn Financing Is In Short Supply.

In March 18th, the central bank announced a 0.5 percentage point increase in the deposit reserve ratio of RMB, reaching 15.5%.

Since the beginning of this year, policies for recycling liquidity have been frequent, and banks have tightened their pockets of credit.

The owner of the toy business in Yiwu, Zhejiang, is in urgent need of a capital turnover. When looking for a bank loan, he turned his attention to pawn shop.

Since the beginning of this year at the end of last year, many pawnshops in Zhejiang have entered a "good market" period. Pawn financing has been in short supply.

The demand for the pawnshop is "pie" or "trap".

The company has never been so popular. A company, which is a private company engaged in engineering shipbuilding, is a company that requires the company to hide its name.

In mid December 2007, due to the maturity of bank loans, it was urgent to raise 8 million 500 thousand yuan turnover. The company found the loan from Hangzhou Hengfeng pawnshop limited liability company. The answer was, "we have no loan amount."

B company recently found another large pawn shop in Hangzhou, Zhejiang Xiang Yi Jin Lian Co., to borrow money, and the result was also rejected.

Last November, B applied for a loan of 30 million yuan to a commercial bank in Jinhua. It was approved by the bank. However, due to tight banking funds, the loan had not been obtained. The person in charge of the company had to find a pawn shop for short-term financing.

But now it seems that the possibility of success is very small.

At present, the amount of pawnshops is basically full, that is to say, there is no money to borrow.

Wang Liming, general manager of Hangzhou Hengfeng pawnshop limited liability company and President of Zhejiang pawn trade association, told reporters that since November last year, with the gradual tightening of monetary tightening policies, the funds on the market were obviously tense, and the funds of the pawn industry soon became undesirable.

"In December, several pawnshops newly opened in less than 10 days were fully loaned out."

According to the relevant regulations, the "quota" that pawnshops can do is to "enlarge" 1 to 1 according to their registered capital, that is, the registered capital of 10 million yuan can make 20 million yuan loan business.

At present, there are 185 pawnshops in Zhejiang Province, with a total registered capital of 2 billion 700 million yuan, so the scale of financing for the whole industry is also about 5000000000 yuan, which is obviously not a "comfortable" number for the enterprises that are in urgent need of capital.

"Our industry seems never to be so popular."

A pawn industry insider said.

There are worries and worries behind the good market. Although the market is very good, some pawnshops have realized that the more customers they come to, the greater the risk of borrowing.

Zheng Wenbing, chief executive officer of Zhejiang Treasury pawn, said that now the customers who come to search for funds are allocated one by one, and businesses of all sizes and industries have.

Foreign trade enterprises that receive orders for delivery will not be able to borrow money from the banks.

"From the information feedback from enterprises, we see that the intensity of this tightening is indeed not small."

Generally speaking, if enterprises need short-term funds, pawn financing can really play a role in providing timely help.

At present, the amount of charge for pawn shops is "comprehensive service fee + bank interest rate", and the average cost rate is about 3% per month.

Wang Liming said that the time limit for enterprises to find pawnshop financing is only one or two weeks, and the longest one month. Nowadays, many enterprises, because they can not find other sources of borrowing, have continued to borrow money from pawnshops for two months or three months.

"Long term use of pawnshop funds is not acceptable. Monthly interest rate of 3% is equivalent to 36% of annual interest rate.

Zhang Xiaofeng, a veteran in the industry, said that it is like an enterprise seeking water to quench thirst, but now it may be a salt brine.

Zhang Xiaofeng said, once the financial crisis appears, it will eventually affect the pawnshop. Under such circumstances, who dares to say that the "market" is "pie"?

Last month, the Zhejiang pawnbroker Industry Association issued special documents, requiring all pawnshops to regulate their behavior and do a good job in financing services.

"Now that individual pawnshops are seeing a good market, they want to expand the financing business illegally through social lending."

Wang Liming said, "we ask pawnshops to resist temptation and not engage in illegal operations."

Wang Liming said that pawnshop, as a financing institution mainly engaged in short-term loans, has always advocated the spirit of "supporting the crisis and helping the poor". Now it is particularly advocating to "tide over difficulties" with customers.

First, we must not take the opportunity to raise the price and increase the service charge; two, we should do our best to do well the service work and help more high-quality enterprises to tide over the difficulties before us.

There is another phenomenon worthy of vigilance. Because of the strong demand for financing in society, various forms of illegal pawn are becoming more and more popular. More and more institutions are providing pawn services under the banner of "consignment bank", "Financing Consultant" and Guarantee Corporation.

Zhejiang, Cixi and other places engaged in illegal pawning "consignment" or second-hand car trading market, the monthly loan interest rate up to 15%, which has caused tremendous pressure on the borrowers.

"Usury" has great harm to the order of economic and financial operation.

Wang Liming and others put forward that Zhejiang, as a big province in the market, has a large number of enterprises, and the scale affected by macroeconomic policy changes is also relatively large.

While implementing the tight monetary policy, relevant parties should timely assess the shortage of funds on the market and formulate risk countermeasures ahead of schedule.

Zhang Xiaofeng said that for pawnshops, there is an urgent need to improve diversified business capabilities, such as refurbishing the "absolute" (expired or redemptive) items into a new industry, optimizing the profit structure and enhancing their ability to resist risks.