Financing Channels Are Narrow And Single &Nbsp; Export Shoes And Clothing Are Beset With Difficulties.

On the evening of November 24th, it was already time for commuting, but several rooms in the 9 floor of Xinghu commercial building, 46 Huli Avenue, Xiamen, were still lit up.

This is the office area of Ed (Fujian) Investment Co. Ltd., Huang Yunlian, the manager of the strategic management center, and her working partner are waiting for the arrival of the China Economic Times reporter.

Ed is an export-oriented private shoe company with less than 500 employees. Its sports shoes are exported to the United States, Canada, Western Europe, Eastern Europe, South Africa, Australia and New Zealand.

Walking into a conference room less than 10 square meters and not waiting for a seat, Huang Yunlian gave us the "foreign trade situation" that we had previously distributed to her.

Ed's capital plight is thousands of small and medium-sized foreign trade.

"Not only the cost of financing is rising, but also the loan approval period is longer, and the financing channels which were not commodious were narrower."

There are more than one entrepreneur who has such a view by Huang Yunlian.

However, despite the rising cost of financing, many small and medium-sized export enterprises in the coastal areas are suffering, but financial constraints will not endanger survival.

This reporter found in the survey, in the current economic situation is uncertain, the majority of the respondents' countermeasures are: careful order, do what one can.

The pressure of financing is even greater.

The shortage of liquidity, the reduction of new loan amount and the longer approval period are almost the common problems faced by coastal cities' export enterprises.

This reporter visited a number of enterprises in Xiamen, 80% of SMEs liquidity is not very good.

In Qingdao, 40% of export enterprises have insufficient liquidity, and about 15% of them say that the gap is large.

Taking Guangdong as an example, the number of new loans approved by some of the province's banks could be reduced by 50% to 70% in previous years. The approval period has been extended from the original 1 months to 2 months to the current 3 months to 4 months, or even longer.

For small and medium-sized export enterprises, financing costs are rising rapidly.

According to the findings of the Guangzhou branch of the people's Bank of China, the lending rate of SMEs is 1.3 times to 1.5 times and 1.5 times to 2 times of the benchmark interest rate, from 8.6% to 26.7%, from 2.6% to 10.6%, plus the cost of guarantee, the consulting fees charged by banks, and the financial consultant fees. The minimum cost of financing is above 10%.

At present, there are mainly two kinds of enterprises that have tight capital chain: first, enterprises are in a period of expansion, and liquidity has been relatively abundant. However, after the new project, there is a gap in funds, but they have no choice but to turn to high interest private lending to solve their urgent needs. Two, there are some daring enterprises. They use private capital to diversify investment in commodities, real estate and so on, and cash flows are frequent.

According to the analysis of relevant data of Ningbo Municipal Finance Bureau, most of the second cases occurred on some scale private enterprises. The hidden trouble is that once the capital chain breaks up, it will cause a greater impact on the supporting small and medium-sized enterprises. The financial crisis will be pmitted to the related SMEs and the society in the form of arrears of payments and arrears of wages.

In recent years, small and medium enterprises, which have not invested heavily in industrial operation or product processing, have strong adaptability to changes in the economic environment, and are less affected by the lack of social credit funds.

In Qingdao, more than 70% of small and medium-sized foreign trade enterprises have financing needs, but less than 30% through bank channels.

Some enterprises have to alleviate financial pressure through private lending, but the cost and risk are relatively large.

The survey shows that 40% of Qingdao's export enterprises are short of liquid capital, and about 15% of them show a large gap in funds.

From the perspective of the nature of enterprises, the capital situation of foreign-funded export enterprises is obviously better than that of private export enterprises. 77% of foreign-funded enterprises reflect that liquidity can meet the needs of production and operation, while 48% of private enterprises reflect the gap in liquidity.

According to the type of enterprises, the capital pressure of the production oriented foreign trade enterprises is obviously greater than that of the circulation foreign trade enterprises, and 57% of the production oriented foreign trade enterprises reflect insufficient liquidity.

Financing channels are narrow and single.

Our survey shows that the financing channels for small and medium-sized foreign trade enterprises are very narrow.

In Xiamen, apart from a large number of well-known enterprises such as Xiamen, Xoceco, Xiamen and China World Trade Center, the small and medium-sized export oriented enterprises have little financing capability.

There are three kinds of financing channels for export oriented enterprises: loans from banks, direct financing from issuing stocks, and private lending.

Large state-owned enterprises and listed companies adopt the first two channels. The funds of small and medium-sized enterprises mainly depend on their own funds and bank loans, but in fact, it is also very difficult for small and medium-sized export enterprises to obtain loans from banks.

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Xiamen Jiasheng Foreign Trade Co., Ltd. has encountered such a problem.

Jiasheng is a private enterprise founded in July 2002. Its registered capital is 15 million yuan, its own office space is more than 2000 square meters, and its existing staff is 152. It is currently a large supply chain comprehensive management service provider in China.

In 2010, the company's annual import and export volume exceeded 700 million US dollars, ranking the eleventh among the top 100 import and export enterprises in Xiamen in 2010. The export volume of private enterprises ranks first in the list, and it is "Xiamen's exports of over billion dollar enterprises".

Pan Xiaofeng, director of the business center of the company, said in an interview with the China Economic Times reporter that, like Jiasheng, a large trading volume and better credit trading company, it is much better than other private enterprises in terms of financing, and loans from banks are not a problem. But this year, banks have control over the loan quota. They may have been able to meet the demand from one or two banks before. Now, because of the limitation of the quota, they need to find more banks.

Moreover, the tax rebate progress this year is much slower than in previous years, resulting in a large number of capital turnover difficulties.

For most small and micro businesses, loans to banks are "no way to go, no need to think". The main solution to capital turnover difficulties is private channels, such as finding friends to borrow money.

Lv Mingyi, general manager of Jiangsu Kunshan Ming Ming Machinery Co., Ltd. told our reporter that choosing cash on delivery usually requires a large amount of capital to be paid in advance, and the process of recovery must take great risks.

The monthly turnover capital of Lv Mingyi's company is 200 thousand yuan to 300 thousand yuan.

But the money needs to be raised by himself. It is very difficult for a company to borrow money from a bank.

"No mortgage or guarantee, the bank will certainly ignore you."

Wei Shankui, general manager of Dongguan Anfeng Battery Co., Ltd. poured water on this reporter. "I can borrow millions from the bank. It is entirely a private mortgage for the company."

But is it possible to have one hundred percent mortgages on mortgage?

Guangdong Zhongshan ancient town Boleyn Lighting Co., Ltd. Sales Manager Pan Xuanting told this reporter, his friends around the bank encountered "closed door".

"Friends around me, even if there is a mortgage and complete procedures, they will not be able to borrow money."

Pan Xuanting said.

"If there is a way to borrow from a bank, the company will develop faster."

Lv Mingyi said, but borrowing from banks is not enough without collateral. Domestic banks do not send people to inspect the operating conditions of enterprises like foreign banks to decide whether to borrow or to discuss interest.

"What should we do with capital turnover?" the reporter asked.

"We will call our customers and friends who are in good relationship to seek help without interest."

Lv Mingyi answered.

Can't enterprises guarantee loans mutually?

"It won't work because domestic trust is very low."

"If there are not many assets abroad, the bank mainly depends on your list and all kinds of receipts such as water and electricity, telephone charges and so on, as a judgement of whether you have credit.

It's not possible to go to Singapore for bank loans, but it has not yet been borrowed. "

Lv Mingyi always conceal his interest in the flexible operation of foreign banks.

But he said he would not lend money to usury.

Like southeast coastal foreign trade enterprises such as Guangzhou, Shenzhen, Xiamen and Suzhou, the foreign trade enterprises in the central and northern coastal cities of Qingdao and Dalian are also facing financing difficulties, high financing costs and narrow financing channels.

Financing costs rise

Whether Guangzhou, Xiamen, Ningbo, Suzhou, Qingdao or Dalian, the export oriented enterprises interviewed almost all face the problem of increasing financing, logistics and tax costs.

Under the influence of the tight monetary policy of the state, the financing problems that plagued foreign trade enterprises, especially small and medium-sized enterprises, have not been fundamentally alleviated, which generally reflects the more stringent loan conditions and the rising cost of financing.

In Qingdao, especially textile and garment export enterprises, financing difficulties are more common.

A leading enterprise engaged in textile and garment export said that the cost of financing from the bank rose by more than 50% over the same period last year.

For private lending, enterprises generally reflect more financing costs than bank credit.

The reasons for the difficulties in capital circulation of foreign trade enterprises are also the rise of various prices.

"Raw material prices, labor wages, employee insurance and other reasons, all of which lead to high output costs and low profits in Qingdao's export oriented enterprises, coupled with the slow recovery of processing fees, and so on, and capital pfer is difficult, which affects normal production and operation."

Wang Lei, director of Investment Department of Qingdao International Airport Industrial Agglomeration Area Management Committee, said to our reporter.

The owner of a private export company in Xiamen, who does not want to be named, told this reporter that their most direct way is to cash in with credit cards, followed by borrowing between friends, which is a relatively cheap financing channel.

Private lending also depends on whether you have collateral, such as property, land or vehicles, if you can't borrow it at all.

No one is willing to lend money to usury unless it is really impossible, because the interest on usury is doubled every month.

In Ningbo, official data show that small and micro foreign trade enterprises are facing greater financial pressure.

According to the statistics of Ningbo Municipal Bureau of statistics, the financial expenses and interest expenses of Industrial Enterprises above designated size increased by 28.7% and 40.48% respectively from 1 to September this year. The financial expenses of large and medium-sized enterprises and small industrial enterprises increased by 20.46% and 40.16% respectively, and the interest payments increased by 32.98% and 50.56% respectively.

The survey shows that the smaller the enterprise scale is, the higher the cost of financing is.

Taking Ningbo as an example, the monitoring of the three quarter of Ningbo development and Reform Commission showed that the proportion of enterprises that reflected the pressure of financing was 75.08%, of which 13.35% of enterprises had a financing gap of more than 20%.

The interest rate of bank loans in Ningbo is generally more than 30% above the benchmark interest rate, the annual interest rate of small loan companies is 25% to 30%, the discount rate of bills is about 9.5%, and the interest rate of private lending reaches 25% to 30%.

Watch your bill carefully and do your best.

Despite the rising cost of financing, many small and medium-sized export enterprises in the coastal areas are suffering, but financial constraints will not endanger survival.

Most of the enterprises surveyed are partial to prudent management and do not blindly expand. When the economic situation is uncertain, they should be cautious to take orders and do their best.

In the survey, our newspaper reporter found that the private entrepreneurs in Suzhou would live very well. Their argument is, "how much reserve funds do they have?"

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"At present, more than 5 million of the list is afraid to pick up, and it is very difficult to make loans and make loans."

Sun Min, general manager of Suzhou Wei Lin shelf Manufacturing Co., Ltd., in an interview with our reporter, said that from the next order to recover the cost would take about 6 months, and if the order is slightly larger, there will be a cash flow problem.

"For large customers, the deposit usually pays only 20% to 30% of the total amount, which is far from enough."

Business operators such as Sun Min who are afraid to pick up funds because of capital problems are not a minority in Suzhou.

Tight funds also cause foreign trade enterprises to focus on short-term orders.

The investigation results of our reporter in Ningbo, Zhejiang province show that, according to the delivery date of export orders held by 14 enterprises, the other 13 enterprises are all within 3 months except that Ningbo Niu Da arts and Crafts Co., Ltd. chooses 3 to 6 months.

"The days when I owe money to banks are also very sad."

He Shuibing, chairman of Cixi Longwei Electrical Appliance Co., Ltd., was very glad to say, "fortunately, there is no blind investment and expansion.

Otherwise, our capital chain will also have problems.

In addition to the reasons for the policy level, many foreign trade enterprises have difficulties in capital chain. In view of Wang Dequan, managing director of Fuxing technology and lighting in Zhongshan Fuxing Group, "it is because short loans and long investments have invested short-term loans for one or two years to invest in industries, real estate and so on."

I think those projects are very profitable, but they take up too much money and the cycle is too long.

Nor have I ever done many other "quick money" projects because of the good economy, so they have been steady and steady.

Therefore, in terms of financing, compared with other enterprises' funds, Wang Dequan's company is very relaxed. "Our company's credit is very high, and the quota is not used up.

Because there are many high-quality assets, so the cash volume is relatively adequate. "

Despite the fact that many days of mouth making enterprises are getting on, it is still uncertain how long the loss of flexible capital chain will last.

Our reporter also found that many small and medium-sized export-oriented enterprises have not set up external market financing system, basically internal financing, snowball development, making it difficult for enterprises to form scale production.

Small and medium-sized enterprises are facing a great deal of capital conflicts. Many enterprises with profitable projects can not maximize their capabilities because they are unable to raise the necessary funds, which has become an important bottleneck restricting private enterprises.