Industry Broke Bank Funds Violating Illegal Usury Market

Hua Jie took off the black stockings that broke the small hole and threw it like a snake skin to the garbage can.

"What do you want to ask?

Is the direction of my investment in monthly interest or annual interest?

In August 24th, at the door of a bank on five roads in Wenzhou, the private lending agent told her newspaper reporter.

Monetary policy has continued to tighten recently. Funds are very tight at the end of each month. The small list within 300 thousand has been pushed away.

The Wenzhou woman, who had reached more than 4 billion loans in the prime of life, complained that "big banks' illegal lending had damaged the market environment of private finance".

"

Ye Songhai, general manager of Zhejiang deer Bang Cashmere Products Co., Ltd. smiled bitterly.

Because of tight money, he needed to expand the scale of production.

"Now that banks are getting stuck, the phenomenon of small and medium-sized enterprises' repayment by private lending is spreading rapidly."

Feng Xinyu, manager of the personal finance department of ICBC (4.14,0.06,1.47%) Taizhou branch, said that the bank asked for loans to individuals generally not more than 2 million yuan, while the lending scale of some small and medium enterprises is tightening, and loans must be strictly audited before lending.

At present, loan customers are most concerned about not lending prices, but when they can pfer loans.

"The survival pressure faced by small and medium-sized enterprises is more complicated than in 2008, and the most prominent one is the" shortage of money "crisis.

Zhao Linzhong, chairman of the board of directors of 10.83,0.10,0.93% group in Zhejiang, pointed out that compared with the same period last year, the interest rate generally increased by 10%~20% except the benchmark interest rate increased by 1 percentage points. The floating rate of SMEs reached 40%~50%, making the financing cost of SMEs increased sharply.

"Lack of money" has certain universality in private enterprises in Zhejiang.

According to the Zhejiang Provincial Bureau of statistics, more than 20 of the more than 230 SMEs in the province have received bank loans and the coverage is less than 10%.

The National Federation of industry and Commerce has just conducted a large survey of small and medium-sized enterprises in 17 provinces and cities. Over the past three years, more than 90% of the small and medium-sized private enterprises surveyed failed to obtain bank loans. Small businesses chose private lending as high as 67.8% and medium-sized enterprises as 48.3%.

"

Formal channels can not be borrowed, leading to the deformity and prosperity of private lending.

In July 21st, the Wenzhou branch of the people's Bank of China released the Wenzhou private lending market report, which shows that about 89% of the households in Wenzhou and 59% of the enterprises are involved in private lending.

In July, the comprehensive interest rate of private lending in Wenzhou was 24.4%, the monthly interest rate was 4% to 6%, and the annualized income reached a minimum of 48%. After deducting idle funds, bad debts and costs, the rate of return was still far higher than that of most industrial enterprises.

Zhou Dewen, chairman of the Wenzhou SME Development Association (micro-blog), surveyed that the monthly interest rate of long term lending in Wenzhou pawnshop for more than 3 months rose to 3 points (36%) from 2.2 points last year (about 26% of the annual interest rate), while short-term lending has generally exceeded 8 points (96%).

Usury has seriously affected the healthy development of the real economy.

Zhou Dewen is worried that if the government does not rescue again, if the external environment is not improved, 40% of the domestic stock SMEs will halt, stop production or even go bankrupt in the second half of this year.

"Ant tribe"

"The more daring i am, the less I dare."

Hua Jie told this reporter that two years ago, hundreds of millions of money put out, her hands are very few IOUs, now more than 10 million must be collateralized.

In early years, Hua Jie started his printing business, and later registered a chain factory, auto parts factory and foreign trade company in the south.

After many years of operation, we have made 5 managers of the banking department, and the bank credit is more than thirty million yuan a year during the "investment" business.

And through a series of operations such as the pfer of mortgage and the two mortgage, the total amount of usury can be 4 hundred million.

In return, in addition to commission and festive gifts, she must help banks to store and pfer loans.

But some bank clerks themselves also make "investment". This kind of "vicious competition" has affected the "normal operation" of Hua Jie.

Recently, Hua sister encountered a "malicious".

According to the regulations, the private borrowers make loans in their personal names, take personal accounts or cash pactions, and interest will be deducted in advance.

This will not only avoid tax, but also help to occupy an active position in disputes.

Just a month later, Xu said he was unable to repay the money.

Hua Jie rushed to the field survey and found that the market price of the row house was only 7 million 500 thousand yuan due to serious quality problems, which was far lower than the bank assessment of 11 million yuan.

If she deals with real estate, she first has to pay 6 million of the bank's loan. If she adds all kinds of paction taxes and fees, the deal will surely be lost.

In desperation, Hua sister told the other side to the court.

"I am sure that the bank that evaluated is in collusion with Xu, and" black my money! "

Hua sister was very angry.

Of course, she also has her own "gold master".

Last year, she worked for Mr. Ma, the owner of an underwear factory in neighboring province, and secured a 700 thousand yuan loan from a bank with a residential mortgage.

The bank assessed the mortgaged property by 10 percent off in advance, and then released 30 percent off loans.

"This list has nothing to do with me. I only accepted Mr. Ma for tens of thousands of yuan."

Hua said that she was forced to fund Mr. Ma for 8 days because she was worried that "death order" would affect her dealings with banks.

Similar to private lending and debt disputes, it is full of links including individuals, private enterprises, leasing companies, pawnshops, consignment investment companies and Guarantee Corporation.

A statistics from the Wenzhou intermediate people's court showed that in the two quarter of this year, the court handled 2628 cases of private lending disputes, 474 more than the same period last year, and the total target amount was 930 million yuan, 315 million yuan more than that of the same period last year.

Linda, a lawyer in the financial field of Guang Zheng Da law firm in Zhejiang, believes that most of the cases are mixed with bank funds.

Especially in cases with more than 10 million cases, there is no exception.

Accountability "black gold channel"

At the top of the usury Pyramid, the bank funds that violate the market are shining with cold light.

Ma Jinlong, a professor at Wenzhou University, told this newspaper that he had a friend who made agricultural high-tech and received 3 hundred million credit from the bank, but he didn't need so much money at the moment.

The boss calculated an account: from the bank loans one hundred million, 50 million for enterprise development, and then 50 million lending out, with the annual interest rate 50%, 25 million interest.

"I borrowed one hundred million from the bank and paid the bank only 6 million interest, net profit margin 19 million."

The boss said.

And a shoe leather manufacturer in Yongjia, Wenzhou is also not idle.

He led a number of local businesses to set up a Guarantee Corporation, and each shareholder unit obtained loans from the bank, and inject more than 1 billion yuan into Guarantee Corporation.

This "cash pool" not only borrows loans from shareholders and related enterprises, but also makes loans abroad.

According to the industrial monitoring business prosperity survey conducted by the Wenzhou branch of the people's Bank of China, the index of capital turnover in the two quarter was 35.72, a 9.52 percentage point drop from the previous quarter, and the index of return on bank loans was 30.96, down 4.76 percentage points from the previous quarter. The proportion of accounts receivable and sales value of enterprises increased by 10.8 percentage points over the same period last year.

"This shows that sales revenue has not changed to the current cash flow, and the speed of enterprise capital turnover tends to slow down."

According to the analysis of the personages, the management intention of the enterprises is decreasing.

There are indications that there are more flexible manipulations and "legitimate" sources of income in Zhejiang's private lending market.

For example, banks obtain more than interest income from floating loans from SMEs.

In some places, if the enterprise loans 5 million yuan, the bank will "detain" 1 million yuan as "deposits", and will also provide loan companies with tying up funds and charging consulting fees.

Therefore, the cost of one-year loan comprehensive financing is generally around 12.3%, even higher than 15%.

In Shaoxing, there is a kind of "lending" business similar to pyramid selling. The local capital intermediaries will hire people to take a series of lanes and collect 2% of the extra income, then sell them to the top banker through the price of 2.5%~4%, and collect the designated banks to Wenzhou, Taizhou and other places.

The insider tells us that depositors' funds can not be stored in the regular banks in other places. There is no risk for the depositors to deposit the funds. The lenders only need to pay an extra interest of about 4% of the funds, so that they can get the credit to lend money and lend again, while the capital intermediaries can get roughly 1% of the profits.

"This situation does exist, but it is not the mainstream."

Zhang Zhenyu, director of Wenzhou financial affairs office, admitted that because of the cheap bank funds, there is a spread between the national benchmark interest rate and private lending. Under the driving force of interest, enterprises will take part of the funds to raise profits to those SMEs who can not get bank funds.

It is not uncommon for lenders to collude with bank employees.

In July 22nd this year, a huge fraud caused by "high interest collection" was held at the intermediate court of Hangzhou.

It is understood that a middleman named Li Yang colluded with 3.16,0.10,3.27%'s internal staff to cheat about 40000000 large deposits of savers into the underground usury market.

It is understood that 9 defendants in the same case before Li Yang (including two bank staff and two defendants in the bank) have been convicted of fraud and sentenced by the court.

Coincidentally, at the beginning of August, a customer manager named 4.64,0.16,3.57%, a Yueqing branch of Liushi branch of CITIC Bank, was mysteriously missing. She was exposed to about 70 million of the loan customers.

"Private lending has accumulated huge risks, which should attract high attention from the government."

Zhou Dewen, known as a private night watchman in Wenzhou, believes that Wenzhou's economy will not collapse, but private capital investment should be paid attention to.

He suggested that the central government should moderately relax monetary policy, give more support to SME loans, and establish private lending laws and regulations, so as to standardize private lending.