Yangzhou’s first private loan service company officially opened

In recent years, due to the epidemic and other factors, the production and operation of many small and micro enterprises have been affected, and their capital flow has been under great pressure. They are faced with difficulties in repaying loans and transferring loans after they mature.In this context, “loan” service demand arises at the historic moment.On April 6th, approved by yangzhou local financial supervision bureau, Yangzhou Xinyitong Loan Service Co., LTD, the first private loan service company in Yangzhou, was officially opened.What is a loan transfer service company?How to serve the enterprise?And how will standardize management?Reporters visited.What is a “re-loan” company?Many small and micro enterprises may have encountered such a situation: a bank loan is due to be repaid soon, but due to some special reasons, the enterprise has temporary capital turnover difficulties, and does not have enough funds to repay the loan.According to bank lending rules, companies generally have to repay previous loans before they can continue to borrow new loans from the bank.Once the enterprise does not pay back the “old debts”, it will lead to the failure of the “new” loans in the bank, facing the risk of capital chain fracture, thus affecting the credit investigation, which may have a serious impact on the development of the enterprise.At this time, the enterprise needs to find a third party to advance the loan due, and then repay the third party after successfully renewing the loan, which is often referred to as “crossing the bridge” by insiders.Sometimes companies have to resort to private lending, which is costly and risky.In order to help small and micro enterprises solve the problem of loan renewal and loan re-lending, the municipal financial department took the lead to set up the emergency loan re-lending fund of the municipal and county governments many years ago to provide low-cost short-term loan re-lending help to qualified enterprises.”At present, the city has established 520 million yuan of financial loan funds at city and county levels, and provided a total of 9.539 billion yuan of loan services to 1,667 enterprises last year.However, it is difficult for small and micro enterprises to develop in the face of multiple adverse factors such as the impact of the epidemic. It is still difficult to fully meet the needs of multi-level enterprises for loan transfer, and many enterprises still have urgent needs for loan transfer and financing. More market-oriented solutions need to be explored.”City local financial supervision bureau deputy director Xu Lihong said.Last December, the local financial regulator of yangzhou printing on the small micro enterprise credit service innovation pilot work notice, to explore through the way of marketing operation, set up a private lending services company, supplement the government emergency lending fund, better meet the demand of enterprises “credit”, yangzhou city xin billion credit service co., LTD.How to serve the enterprise?Information shows that Yangzhou Xinyitong Loan Service Co., Ltd. registered capital of 50 million yuan, mainly for the urban area (excluding Jiangdu District) small and micro enterprises due loans to provide temporary loan services.”All small and micro enterprises, individual industrial and commercial businesses and private business owners who have the need for loan renewal and meet the requirements of bank loan renewal can apply for loan re-lending service to us.We will be based on the business situation of the enterprise, on the basis of the enterprise to provide a certain mortgage, guarantee measures, first for the enterprise to repay the loan due, such as the enterprise renew the loan funds to the account and then return to us, under the condition of complete procedures, generally 3-5 working days can be completed.”Yangzhou Xinyitong loan service Co., Ltd. said the relevant person in charge.According to the regulations, in principle, the scale of the transfered capital shall not exceed 10% of the net capital of the transferee company for a single household. If the amount of the transfered capital for a single household exceeds 10% of the net capital and is less than RMB 10 million, it shall be filed with the Municipal Local Financial Supervision Bureau.In principle, the loan transfer period shall be within 10 working days and the maximum shall not exceed 15 working days;In principle, the weighted average charge shall not exceed four times of the quoted interest rate in the loan market during the same period, and shall be charged according to the actual number of days of use. No additional charges shall be charged.”Legitimate and professional re-lending service agencies can help ease the capital pressure of re-lending and re-lending for small and micro enterprises, reduce liquidity risks, compress the high-interest re-lending and ‘bridge’ market space, and reduce the risks of capital chain fracture and high financing cost faced by enterprises in the ‘bridge’ of credit capital.”Industry insiders said.How to standardize management?The re-lending funds should be managed by “special account”, and the business should be incorporated into the system of small loan companies to supervise the establishment of private re-lending service companies. How to ensure their legal and compliant operation and avoid related risks?It is understood that private loan transfer service companies are required to carry out business under the supervision of the municipal local Financial Supervision Bureau. The approval and supervision should refer to the execution of small loan companies, and there are clear requirements on the amount of loan transfer, term and fee standard.In order to ensure the smooth and orderly development of the loan service, the loan funds will be managed by “special account”, and enterprises shall not use them for other purposes;Every information of loan re-lending service shall also be entered into the business system of small loan companies of local financial Supervision bureaus and shall be subject to strict supervision.Source yangzhou Daily

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