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The following article was published in our article directory on February 23, 2011.
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Minor Enterprises Harder To Get A Bank Loan In Mainland

Article Category: Business

Author Name: Amanda xzh

Since China's central bank monetary tightening since late last year, many of China's small and medium-sized enterprises can not get bank loans, turn only to small loans, pawn companies such as some folk lenders, loan interest rate hikes are followed central bank. Have smes reaction, relative last year, this year's financing cost generally improved 40% to 80%, some even more than double.

2010 since October 8th, the people's bank of China to raise deposit reserve rate and the third consecutive rate, six months to one year per annum for short-term loans for 6.06% administratively, now, but also additional 10% to 30% of the loans ranging assembling. Facing a tightening monetary, limited resources, the bank had to choose large quality enterprises loan, some Banks in January after suspended the new loan put that small and medium-sized enterprise loans increased difficulties. Even enterprise have plenty of pawn, guarantee, credit is also hard from the bank loan, or required to be an endless waiting in line for examination and approval.

Loan financing difficulty forced worry need people trying to find the bank financing channels, consider outside the lending rates for bank interest rates six times or so folk lenders.

Our call chongqing of several small loan company understands, last year's loan interest rate in about 35% (rates 2.5%), and don't need any security, and nowadays even if a mortgage, loan interest rate has more than 40 per cent per annum, unsecured is jacked up to 60 percent (4% compared with last year's rates higher than 70%).

In addition to interest rate hikes follow central bank lending institutions outside, folk on mortgage also becomes more and more captious. If there is a plant or residential, retail such immovables as mortgages more easily get loans, interest rates are relatively low. Even if a mortgage lenders open the specific interest also look at the locality, whether there is a real estate mortgage wait for a circumstance to decide. Of equipment and other types of the mortgaged property or building use fixed number of year has more than 10 years, folk lending institutions may not accept it.

According to media reports, in zhejiang, shenyang, etc, enterprises financing cost even up to 80%. Wenzhou small and medium-sized enterprise development promotion council President ZhouDeWen said that at present the local folk borrowing short-term rates businesses from last year's 4-5%, up to 6% to 8%, long-term lending rate of 3%.

He says, wenzhou small and medium-sized enterprises promotion at present 70 percent of enterprise member state in lack of money, many enterprises is not without order, but don not raise money to provide order needs of production.

Due to the bank, microcredit lending financing company and friends of the increased difficulties, after the Spring Festival, some small and medium-sized enterprise, through the pawn solve financial difficulty. Have pawn companies to reflect, mortgage refinance of small and medium-sized enterprises accounted for more than 90 percent of customers. By the mortgage of mainly for cars and houses, with jewelry, calligraphy and painting works of art, etc the door person also many. Housing mortgage interest rates low, 3%, gold jewelry of rates of 5%, cars for 4 to 5 percent.

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