Wenzhou Shoe Companies Try To Solve The Financial Problems Together.

In 2011, after the "run away" incident broke out in 2011, the confidence of private financing was severely damaged in the traditional place of private lending.

In April 2012, the unregulated lenders demanded a 21.6% interest rate and a commercial bank lending rate of 7.6%.

Banks have once again returned to the financing options of some enterprises.

Indigenous "exploration"

Traditional Wenzhou

Take the manufacturing industry as an example, although the three enterprises in the supply chain are short of collateral, a secured mode explored by the local "indigenous" - Wenzhou bank has successfully acquired the required loans.

Things also need to start with Wenzhou Gu te Leather Co., Ltd. (hereinafter referred to as "Gu te leather").

Gu te leather costs 2 million 300 thousand yuan and 200 thousand yuan deposit to purchase the right to use a shop in the leather industry area of Jintai group. After spending, it leads to insufficient liquidity.

Since its establishment, Gu te leather has opened a basic account in Wenzhou bank, and has been a loyal customer with the gradual expansion of its asset scale. However, because of its right to operate the storefront and no ownership, it is not in accordance with the usual practice to handle the mortgage business of Wenzhou bank.

Old customers have capital requirements, but existing businesses can't meet them. The Wenzhou bank, which has always been playing the edge card, can't sit still.

The first step of the Bank of Wenzhou is to investigate whether there are other assets that can be mortgaged as well. However, they found new clues in the investigation: two other businesses in the industrial chain of the solid leather industry, Wenzhou ODA shoe materials Co., Ltd. (hereinafter referred to as "ODA shoe material") and Wenzhou Fengyuan rubber and Plastic Co., Ltd. (hereinafter referred to as "Fengyuan rubber and plastic") also have financing needs.

Among them, ODA shoe material capital flow is relatively stable, the business scale is in the middle and upper level, and there are cooperative relations with many famous shoe enterprises such as red dragonfly, Yi Kang, Ediron and so on, but the enterprise's own factory building is bought by local farmers. Although the market value is about 10000000 yuan, it is similar to the solid leather case.

Another example of Fengyuan rubber and plastic company is similar.

Although these three enterprises are different in main business, they belong to different stations in the same industry chain.

Among them, ODA shoe material and Fengyuan rubber and plastic are directly upstream and downstream relations. The latter sells raw materials to ODA shoe materials, and has funds settlement relationship for their direct suppliers.

As for Gu te leather, the leather products it sells are also the main raw materials for shoe production.

The Bank of Wenzhou branch is located near the shoe market of River Bridge in Wenzhou. There is a certain understanding of the form of operation of the shop owners who have a certain margin in the market, but they do not have the right to operate.

Based on the close examination of the affiliated enterprises and the market situation, the Bank of Wenzhou decided to develop three UNPROFOR products and finally issued 3 million yuan loans respectively.

The head of the small business credit department said that last year, the Bank of Wenzhou had invested 4 of its loans in Wenzhou, and the other 6 had been pferred to other branches.

The next step is to make appropriate adjustments to the ratio, expanding the original Wenzhou share to 4 to 6, in response to the call of the Wenzhou municipal government to increase the credit intensity of SMEs.

The power of holding together

For small and medium enterprises lacking collateral, it is obvious that on the basis of fairness and voluntariness, heating together can obviously relieve the difficult financing problem of "Single Soldier Combat".

In fact, the model of joint guarantee loan is not a temporary innovation.

Domestic banks such as Bank of communications, construction bank, Bank of Jiangsu, Huaxia Bank (600015, stock bar), Everbright Bank (601818, stock bar), postal savings bank and so on, have been faced with those assets which are not large in scale, especially the turnover speed is very fast, the products belong to the "selling now", and the small businesses that have continued to finance the banks without effective collateral have set up the "joint loan and joint guarantee" business.

"Banks are welcome to lend this way," a related industry said. For banks, multiple guarantor has more assurance ability, and helps to develop special industry customers, and achieve "point to line, line to face" industry chain marketing.

"For banks, this way of risk is low, and there is no reason not to support SMEs."

As for the conditions to meet the needs of the enterprises for joint insurance loans, each bank's requirements are focused.

In the case of Wenzhou bank, the number of joint insurance teams is 3 households (above), of which 3 or more enterprises are required to belong to two or more industries in principle, and at least 2 members own their own factories.

But in this way, if one of the corporate members of the company is detaching, will it produce a series of Domino effects?

The above responsible person said that the system of the joint guarantee loan system is relatively strict, and the joint guarantee group is composed of several enterprises and signed an agreement. If the borrower fails to repay the loan according to the contract, the loan will be jointly and severally liable by the members of the joint insurance team, and the joint guarantee of the company's legal person and shareholders should be added.

Of course, whether banks or joint insurance companies are easy to see is often only market risk.

And the biggest hidden danger of corporate joint insurance loans is probably less than the potential moral hazard. If the loan amount is huge, it will hardly affect the normal operation of a financial institution.

Since moral hazard is relatively uncontrollable, it is hard to guarantee 100% "dominoes". How should we guard against it?

"The government can change the mechanism to encourage lending to SMEs, from discount interest to loan risk."

The industry said that last year, Shenzhen had adopted this way to build a mutual trust and trust platform for private leading enterprises. "For the government, the investment has not increased, but for the market, this risk will leverage the bank loans into small and medium-sized enterprises."

Financing decoding

Unsecured loans usually refer to three or more small and medium-sized enterprises voluntarily form a guarantee alliance, and implement the principle of "voluntary joint guarantee, multi family joint guarantee, repayment by agreement, and risk sharing".

For banks, relying on various associations, chambers of Commerce and market leaders to organize small businesses to do joint guarantee loans, most worried that the joint guarantee bodies belong to one interest group or even the actual controller, or the organizers abuse their power and misappropriate their funds, while the joint insurance companies are worried that they are doing well, but are being dragged away by other members of the joint guarantee.