Shoes Jinjiang Cracked SME Financing Bottleneck

Guarantee Corporation, small loan institutions, trademark mortgage loans - - crack the financing bottleneck of small and medium-sized enterprises, Jinjiang, "multi pronged" in October 23rd, Fujian province's first small loan pilot enterprise, Jinjiang Hengcheng small loan Co., Ltd. unveiled its opening. Shortly afterwards, Jinjiang's first venture capital fund company will be officially unveiled, and the equity and trademark pledge loan scheme will also be formally implemented by the end of the year.

In order to solve the financing problem of small and medium-sized enterprises, since April, the government of Jinjiang has gradually launched prescriptions including Guarantee Corporation, microfinance companies, venture capital funds, and trademark rights and equity pledge, so as to build up a multi form three-dimensional financing channel to solve the financial problems of small and medium-sized enterprises in reform and innovation, and help SMEs reform and upgrade.

The financing gap of small and medium-sized enterprises is facing another peak season. Fujian Hollywood Food Industry Co., Ltd. (hereinafter referred to as "Hollywood food") is planning to pform from export to domestic sales. Besides land issues, financial difficulties have been plaguing this small and medium-sized enterprises.

Since this year, more and more SMEs have been waiting for "rescue".

According to statistics from relevant departments, there are more than 5500 small and medium enterprises in Jinjiang, which have created 54.6% of GDP in the whole city. They play an important role in promoting the sustainable development of regional economy and reserve forces, and play a decisive role in the national economy.

However, since the second half of last year, the members of the new force have begun to encounter various difficulties, and the adverse effects of many plight on enterprises are obvious this year.

The industrial electricity consumption reflects the production status of the enterprises, and is also the precise index reflecting the survival conditions of the enterprises in the industry. According to the data provided by the relevant economic departments in Jinjiang, the industrial electricity consumption of the small and medium-sized enterprises below scale has negative growth for the first time in 1~9 months.

The data illustrate the survival status of small and medium-sized enterprises. Under such circumstances, seeking funds for survival has become the focus of most small and medium-sized enterprises.

"Suppliers are asking for cash purchases, and accounts receivable of customers are tardy. Many small and medium enterprises' capital chains have been cut off."

A zipper industry owner revealed that in addition to the reduction of orders, the difficulties brought by the dilemma are the long bad habits of accounts receivable for SMEs in the industrial chain. "This is particularly evident in textile, footwear, toys, zippers and other industries. The breakup of the capital chain has led to more and more enterprises starting to demand rescue funds."

Besides needing capital to fill the broken capital chain, many enterprises that started to update their products and technological innovation are waiting for financial support.

"This year, the company plans to invest in developing a kind of gelatin sugar, and intends to develop the domestic market.

But R & D investment and promotion need a lot of financial support. "

Hong Yinzhi, general manager of Hollywood food, told reporters.

So, whether it is to fill the capital chain or to adjust and upgrade investment, capital problems have become a stumbling block in front of SMEs, and it is hard to find supporters to help move away.

Judging from the situation in 2007, the industrial output value of the enterprises below the scale of the city accounted for 15.1% of the total industrial output value of the whole city, but the proportion of enterprises below the scale accounted for less than 6% of the total loan amount of the city's enterprises, which formed a great contrast. Although the small and medium-sized enterprises made contributions to the social economy, their financial support was still very incommensurate.

According to an economic official, "Quanzhou's private enterprises now have more than 20 billion capital shortfalls each year, almost all from small and medium-sized enterprises."

In fact, the financing difficulties of private SMEs are not related to their own factors.

In the general situation of land pfer certificate, property certificate is not complete, production equipment does not have standardized purchase documents, small and medium enterprises loan projects are often rejected by banks, financing difficulties of SMEs become a chronic disease.

If the stubborn disease can still be controlled, in this year's economic difficulties, as more and more SMEs are struggling with capital problems, Quanzhou's private enterprises 20 billion of the funding gap is placed in the sunshine at the same time, and the financing difficulties become worse.

How can SMEs survive and develop?

Cracking the financing problem has become the key to solve the problem.

Therefore, the visible hand of the government is beginning to show itself, and with the strength of big enterprises, we should implement the countermeasures and construct a three-dimensional financing channel.

The Guarantee Corporation of Jinjiang is the first push after the visible hand.

In March 20th, Jinjiang held an economic analysis meeting in early 2008.

At the meeting, the Jinjiang municipal government promulgated policies to actively promote the construction of credit guarantee system for small and medium-sized enterprises, and encouraged brand enterprises and trade associations to launch a guarantee agency to provide financing guarantee services for small and medium-sized enterprises.

Subsequently, the preparations for the Jinjiang Guarantee Corporation began to enter the substantive stage.

In June 20th, in the expectation of many small and medium-sized enterprises, the Guarantee Corporation of Jinjiang City, with seven wolves as its sponsor, was formally established and issued a guarantee document for three small and medium-sized enterprises on the opening day.

4 months after the Guarantee Corporation was founded, Jinjiang took the second step of building a three-dimensional financing channel.

In October 23rd, Jinjiang Heng Cheng small loan company was founded. Its sponsor is the company of Heng An Group, vice chairman of the National Federation of industry and Commerce and Xu Lianjie, President of Heng An group.

It is understood that the risk assessment of Guarantee Corporation and small loan companies is full of human touch compared with banks and other financial institutions that focus on risk assessment by rigid indicators such as enterprise scale and daily operation standards.

"In addition to some indicators, what we value more is the cash flow of enterprises and the evaluation of their upstream and downstream industries, such as the owner's assets and supplier evaluation.

The audit process is relatively simple, and it doesn't need to be reported like banks.

Liu Yanying, general manager of Heng Cheng, said that the lack of credit documents for small and medium enterprises' loan projects brought great investment and time consuming to banks' risk assessment system, so banks did not have enough patience and confidence.

"Compared with the risk assessment methods of small loans and Guarantee Corporation, there are many fewer normative documents, which are more suitable for serving local SMEs."

A variety of financing channels to promote industrial upgrading. "Guarantee Corporation and small loan companies and other sponsors are strong local enterprises.

The former guarantee instrument provides credit chips for SMEs to bank loans, and the latter's strong financial strength can directly provide financial support for enterprises. These two companies are undoubtedly timely rain for SMEs. "

Lin Yonghong, deputy director of Jinjiang Economic Development Bureau, said.

Jinjiang Xinchang garment Weaving Co., Ltd. is one of the first enterprises to obtain the guarantee documents issued by Guarantee Corporation. With guarantee documents, the company can get short-term loans within one year in principle, and the loan amount is less than 5 million yuan. "Our company is preparing to develop new and high technology for clothing, dyeing, finishing, and the funds are more intense. This fund will provide strong support for the development of enterprises."

Zhang Zhang, assistant director of Xinchang company, said in six.

In the early days of Hang Cheng's opening of the advertisement for recruiters, Liu Yanying, the manager of Heng Cheng, kept ringing on the phone. Many companies went on the phone asking for loans.

According to Liu Yanying, one day before the opening date, Heng Cheng has already reached a loan agreement with several enterprises. After the opening of the business, loans have been issued.

The establishment of these two companies has successfully alleviated the urgent need of enterprises to some extent, and achieved initial results.

In the process of helping small and medium-sized enterprises, Lin Yonghong believes that the management and system of small and medium-sized enterprises are also expected to become more standardized.

"A large part of the financing difficulties of SMEs lies in their own non-standard.

Whether Guarantee Corporation, small loans or equity or trademark pledge will be implemented next month, when assessing risks, the evaluation agencies will give reminders and corrections to the necessary vouchers for enterprises lacking and non-standard management.

In the economic difficulties, SMEs must go to specification.

In the hope of more standardized SMEs, the Jinjiang municipal government has greater expectations for traditional industries.

"Under the unfavorable economic situation, small and medium-sized enterprises are seeking a way to break through the escalation.

We hope to build a financing channel for SMEs to solve the problem of financial distress on the path of enterprise reform, so as to help traditional industries go smoothly to upgrade.

Soon after that, Jinjiang's first venture capital company fund will also become a new partner on the road to upgrading SMEs.

In the process of technological innovation, many growth enterprises, though holding high quality scientific and technological achievements, are suffering from lack of sufficient financial support and unable to invest large quantities of products in the market.

Venture capital organizations are not only funding for enterprises, but also relying on venture capital teams to diagnose weak links for participating enterprises and participate in decision-making and guidance management of enterprises to help enterprises develop.

Jinjiang Municipal Economic Development Bureau said.

It is understood that the upcoming Jinjiang Hongqiao venture capital company fund will also actively participate in the private placement of the listed companies in Jinjiang, and help promote the restructuring of enterprises to accelerate the pace of restructuring and listing.

In addition, it is also a mode that Hongqiao venture capital will try to select venture entrepreneurs with high entrepreneurial potential and high-end technology achievements owners to start entrepreneurial ideas of venture capitalists in Jinjiang.

Jinjiang financing company four: "the prescription" financing agent 1: Jinjiang city Company limited by guarantee, registered capital 99 million 990 thousand, initiator: seven wolf investment Limited by Share Ltd as the initiator, Jinjiang city investment company as the major shareholder, Hang Lung Building Materials Co., Ltd. and Bai Xin Machinery Manufacturing Limited company and other 2 enterprises to participate in the stock market; Jinjiang branch of Bank of China, Jinjiang branch of CCB, Jinjiang rural cooperative bank, Quanzhou commercial bank Jinjiang sub branch and other cooperative banks.

Function: according to the preliminary consensus, the cooperative bank will basically provide the Guarantee corporation with the credit limit of 1 to 5 magnification.

Small and medium-sized enterprises will get a one year short term loan with a loan amount of less than 5 million by means of guarantee documents.

Two: Jinjiang Hengcheng small loan Co., Ltd., registered capital 300 million, sponsor: HengAn cotton and cotton dress Co., Ltd. as sponsor, and 19 enterprises and natural persons as contributors.

Function: a registered capital of 300 million yuan, and 50% of the loan to small borrowers whose loans are not more than 2 million yuan. 40% of the loans are distributed to small borrowers who do not exceed 5 million yuan in loans. 10% yuan is granted to small borrowers who do not exceed 10 million yuan in loans. Heng Cheng will solve the urgent need of many enterprises.

The financing prescription three: Jinjiang Hongqiao venture capital company, the registered capital is 100 million, the initiator: Fujian Pro Equity Investment Co., Ltd. is the initiator, Fujian seven wolf Limited by Share Ltd, Hongqiao (Quanzhou) Investment Co., Ltd., Fujian Hongqiao venture Cci Capital Ltd and Jinjiang Energy Investment Co., Ltd. as the participants.

Function: support growth oriented SMEs with market prospect and development potential, and promote rapid growth of growth enterprises through capital investment and management promotion.

Those who invest in entrepreneurial potential and high-end technological achievements will support them to start businesses in Jinjiang and make them a sustained growth point for Jinjiang's economy.

The financing prescription four: Jinjiang equity and trademark pledge: Sponsor: the trade and Industry Bureau of the city and the cooperative bank function: the business sector and banks and other financial institutions work together to support enterprises to revitalize the rights of exclusive use of shares and trademarks, broaden the financing channels, and ease the problem of inadequate production and operation funds.

The value of Jinjiang's existing and famous trademarks is more than 24 billion yuan, which is of positive significance for supporting the development of SMEs and giving full play to the brand driving effect.

Compared with the negative growth of industrial electricity consumption of small and medium-sized enterprises, the industrial electricity consumption of Enterprises above Designated Size in the first three quarters still maintained a normal growth rate.

Even if the extension industry such as real estate has been seriously affected, it still can not affect the pace of development of these big enterprises, and its overall strength can not be ignored. They are still the backbone of supporting Jinjiang's economy.

Because of their strength, they are trusted.

In the economic downturn, how to help the weak and lead the Jinjiang economy to move forward, besides the government, big enterprises also see the eyes of trust from many small and medium-sized enterprises.

Under such trust, Guarantee Corporation, small loan companies and venture capital funds...

The government and big enterprises launched a joint rescue.

Chen Xinwei, executive vice president of Limited by Share Ltd and chairman of Jinjiang Company limited by guarantee, explained why he chose to enter a high risk and low return guarantee industry.