How SMEs can get unsecured loans

"Commercial banks definitely want to make money, so we need to seek a balance between risk control and returns." Huang Lifen, general manager of SME Wealth Management in China of Standard Chartered Bank, told reporters. The bank recently launched a high-profile "unsecured micro-loan" for small and medium-sized enterprises in Shanghai, which just solved the problem of small and medium-sized enterprises lacking collateral and guarantees.

This means that, for the first time, the credit loan, which was only recommended to high-end customers of large enterprises, has really lowered its value and opened to small and medium-sized enterprises. Moreover, the first person to eat crabs is a foreign bank.

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Applying for an Unsecured Loan is quick and easy

This is enough to excite many struggling SMEs. "Mortgage difficulties" and "guarantee difficulties" have always been the "stumbling blocks" for small business financing. Because the collateral that banks can accept is very limited, generally only including real estate, certificates of deposit, etc., but small businesses are usually in the development stage and have few fixed assets. , even if it operates well, it is difficult to provide collateral, and the collateral that can be provided often does not meet the requirements of banks, which blocks most small businesses from bank loans.

“The reason for relying on guarantees and mortgages for lending is because Chinese banks have poor risk control capabilities. International banks usually take a comprehensive evaluation of small enterprises, not only relying on mortgages and guarantees to lend.” A statement from the person in charge of a state-owned joint-stock commercial bank To break down a middle ground.

This claim was quickly verified with foreign banks. Standard Chartered Bank has made a special design according to the operating characteristics and needs of domestic SMEs, and it is the first time that the model of credit lending has been truly adopted to meet the needs of SMEs for working capital or one-time large sums of funds. All Chinese-funded enterprises registered in Shanghai or Shenzhen, with business hours of more than two years, and stable operations can apply.

The company of Zhang Ming (pseudonym) signed a contract with a multinational company, but urgently needed RMB 400,000 to purchase raw materials to fulfill the contract, but there was no valid collateral on hand. Standard Chartered Bank provided the loan in time, so that the The client successfully completed the contract with the multinational company. It is reported that small businesses only need to provide Standard Chartered Bank with business licenses, tax registration certificates, bank statements, financial statements and other materials, and then fill in a simple application form, and they can apply immediately. The application process is fast and simple, and the documents are complete and If the approval conditions are met, Standard Chartered Bank can lend within 10 working days. The maximum loan amount can reach RMB 500,000, and the loan term is divided into 1-year and 2-year terms. At the same time, customers can repay in monthly installments to facilitate the flow of funds.

Introduced to China at the same time, there is also the internationally accepted practice of "cooling-off period" for loans. After the loan is approved by the bank, Standard Chartered Bank will give SMEs a 3-day "cooling-off period" to help them decide whether they really need the loan. "One-on-one" relationship managers with SMEs will help SMEs complete the entire process of loan approval.

But the relatively high risk of lending to SMEs has also raised significant concerns about interest rates.

“In the interest rate formulation, we will refer to the experience of other countries and the interest rates of other unsecured loan varieties, and determine the company’s information provided by the credit information system, as well as the company’s cash flow, products, management experience, and many other factors. Whether or not to lend, and how much the loan interest rate is implemented." said Ye Yang Shiming, President of Standard Chartered Bank's Personal Banking China.

At present, most small and medium-sized enterprises are faced with the difficulty of financing, and then they choose private loans, obtain financing through pawn shops, etc., and thus face high borrowing costs. Ye Yang Shiming said that the credit loan interest rate launched by Standard Chartered this time will be much lower than the interest rate standard for pawn financing. The average monthly interest rate is about 1.5%, which means that the annual interest rate will reach 18%.

And more importantly, obtaining unsecured loans for SMEs through banks can establish an effective bank credit relationship. The high risk of SMEs and the imperfect credit system are the main reasons for their narrow financing channels. Once the bank credit is established, the financing channels of SMEs can be broadened.

Bank of Communications "tests the waters" for SME credit loans

The Bank of Communications Shanghai Branch is also testing the waters for SME credit loans. The person in charge of the Credit Management Department of Bank of Communications Shanghai Branch revealed that at present, although the SME loan brand "Zhanyetong" launched by Bank of Communications still requires customers to provide effective guarantees, under the premise of controllable risks, the bank will also provide qualified high-quality Small business customers provide credit. It is reported that according to the vision of Bank of Communications Shanghai Branch: in the future, the bank will classify small enterprise customer ratings into 10 grades. Enterprises with grades 1-5 may obtain unsecured loans as long as they meet the conditions of good manager credit record and leading product market. .

However, the bank's credit loan is still in the stage of "doing nothing but not talking". Since there are very few companies that have been approved, it is still impossible to unify the standards for obtaining credit loans, and it is not convenient to disclose the specific interest rate standards for loans, but The bank does not deny that the "door" has been opened.

Lu Weiguang, chairman of Shanghai Anxin Flooring Co., Ltd., who is already worth over 100 million yuan, is a typical one. The Shanghai branch obtained a loan of 9 million yuan, which was almost unsecured. In the process of dealing with Anxin, the bank found that Anxin could openly communicate with the bank about its business status, product market prospects and other information. In addition, Anxin’s previous loan repayment record was good, and the bank knew the fundamentals of Anxin and Lu Weiguang before they dared to “test the water”. secured loan. Since then, with the support of this bank loan, Anxin's assets have expanded by 15 times within three years, and today's annual sales have exceeded 1 billion yuan.

“The benefits of small business loans are not limited to loan interest rates. Banks pay more attention to the comprehensive benefits of customers, emphasize cross-marketing of financial products, and provide follow-up services such as financing, settlement, financial consulting, and consulting for small businesses. Small enterprises with close business cooperation, good guarantee methods and good fundamentals can also be given certain preferential interest rates." said the person in charge of the Bank of Communications who has been engaged in small business loan business for a long time.

In fact, in addition to credit loans, many special loan types can also meet the needs of small and medium-sized enterprises to obtain loans without collateral. The key is to use them flexibly. For example, in real life, insufficient cash flow due to increased accounts receivable is the most common problem in small business operations. "At this time, bill discounting is very beneficial to the operation of small enterprises." The person in charge of the credit department of Bank of Communications Shanghai Branch said that for small enterprises, the financial cost of this product is much lower than that of loans, and the bank risk is also low, "Yes A win-win product". However, "despite the great prospects for the development of the bill market, small businesses have not made full use of it, but savvy large businesses have used it more." According to the data, the small and medium-sized enterprises registered in the industrial and commercial administration department in my country currently account for 99% of the total number of enterprises in the country, and the value of the final products and services created account for more than 50% of the GDP. Banks pay attention to it, and the traditional rigid mortgage guarantee model is mostly because the bank's ability to control risks is relatively poor, and the information between the borrower and the lender is not asymmetric. However, the situation has changed as foreign banks have fully expanded their business and introduced decades of experience in international SME lending to China.

It is foreseeable that foreign banks will launch a new round of competition in the field of SMEs' wealth management, and this competition will eventually attract Chinese banks to participate, and will greatly improve the loan dilemma of high-quality SMEs.

In the process of unsecured and unsecured credit loans, interest rates are only one of the means by which banks control the risk of SME lending. Ye Yang Shiming introduced that they can evaluate a company's loan ability in various ways. During the approval process, customers will be comprehensively examined, focusing on two aspects—quantitative analysis and non-quantitative analysis. The so-called quantitative analysis includes Analysis of financial statements, bank statements, corporate credit and operating conditions, cash flow and other aspects. Non-quantitative analysis analyzes personal credit, the character of borrowers and major shareholders, and the ability to repay. Small and medium-sized business owners who need loans may also wish to refer to these standards to make improvements and improve their own enterprises' ability to obtain loans.

For example, the character of borrowers and major shareholders. In order to examine the character of lenders and major shareholders, the bank's credit manager and credit department have direct communication with customers and major shareholders, and talk to him about his insights in this industry, his ideas, and prospects for the future company , his knowledge of the entire international market, and his experience in the industry. The bank will also learn more through other channels, such as through his suppliers, through his buyers, through his reputation in the market, and through the media to understand the management, whether his method of doing things is accurate and whether he is more loyal .

Also able to repay. Whether the company has the ability to continue making profits in the future is closely related to its repayment ability. Therefore, the future performance development plan, product quality, workshop and the entire production process of small and medium-sized enterprises are the objects of investigation of commercial banks. That, including even his competitors, will affect whether it can get a loan.

This article is excerpted from First Financial Network (www.amoney.com.cn) with permission.