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Hebei civilian high-interest loan sample: investors or no money

Edit: Lisa Source: Securities Daily Date: 2016-03-15

Summary:

There are many private high-interest lending companies in Hebei, but the market is chaotic, supervision is seriously lacking, and investment losses are not rare.

 Housing enterprises stop working and push down "domino" investors are worried about the loss of blood

At the end of the previous year and at the end of the year, some banks in Hebei Province have experienced different levels of illegal storage, which is not unrelated to the prevalence of high-interest loans.

From New Year's Day to the Spring Festival and then to the festive "February 2" dragon, the investor Li Yuan (a pseudonym) has almost no feeling of the festive season. All he can do is go to the store of Hengshui Investment Guarantee Co., Ltd. every day. Turning around, I look forward to redeeming the “deposits” that I left in the company more than a year ago. However, to this day, his wishes have not been reached.

If time can be reversed, Li Yuan will certainly not repeat the mistakes of the past: In October 2014, Li Yuan “saves” 500,000 yuan in the investment of Yinxin, with a term of one year, with a monthly interest rate of 1.5%; October 2015 After the so-called "deposit" expires, the salesperson tells Li Yuan that the company's capital turnover cannot be opened, and it cannot be redeemed before the end of 2015. The specific redemption time will be notified separately. Upon hearing this news, Li Yuan seems to be hit by lightning. I am in the hall of Yinxin Investment.

According to the "Securities Daily" reporter, investors who fall into the dilemma of similar private lending can not only be alone. In Hengshui, a small town affiliated to Hebei Province, only one bank of Yinxin Investment has more than 100 investors. According to Li Yuan, there are more than 20 companies he knows, such as Yinxin Investment. Since the second half of 2014, a number of investment guarantee companies have experienced financial difficulties. The “deposits” cannot be redeemed at the expiration date, and some of the investment guarantee company owners have run straight, leaving many investors with no return.

 High interest to be a bait

According to the "Securities Daily" reporter, in recent years, Hengshui has emerged as many so-called investment companies such as small loan companies, private investment management companies, and financing guarantee companies. Most of these companies are located in some prosperous streets, so that sometimes only a tens of meters long street can gather four or five investment guarantee companies. Since the second half of 2014, there have been difficulties in the capitalization of guarantee companies, and some companies have even closed down or ran.

Investor Mr. Wang told this reporter, “I borrowed money from a friend a few years ago. He said that he can return a high amount of money. He puts the money of several friends together and deposits it in the investment company, according to the monthly interest rate of 2% per I paid it to us in a month and gave me the principal after one year. Since he has been paying back the money on time, I also believe in these investment companies. A year ago, I also selected a company 'deposit' and ended up as a deposit. 'The money that was due was not available. I had to call the police first, waiting for the police to notify."

The local policeman Liu Xu (pseudonym) told the "Securities Daily" reporter that "the majority of disputes between private lending and borrowing occurred between acquaintances, but in recent years, with the acceptance of investment guarantee companies, Private loans have evolved from 'acquaintance trading' to 'money-selling money'. Now they have formed a group of 'professional lenders' or 'sales managers' who are employed by various investment companies and sometimes earn The difference in interest."

According to this reporter, in this small town with underdeveloped economy, there are nearly one hundred large and small loan companies and investment guarantee companies. In addition, there are more than 100 companies with the words "investment consulting" and engaged in lending business. the company. Investors come to these companies and greet them with a format contract. Investors only need to fill in the name, investment amount and selection period. The investment company generally promises to pay interest on a monthly basis, repay the principal due and agree on the interest. And the account number and name of the principal. Moreover, these format contracts have been detailed in terms of liability for breach of contract, even for litigation fees and attorney fees required to cause litigation.

"These contracts look very formal," and we are even more convinced that the investment company will fulfill its commitments, Mr. Wang said.

Of course, the “looking formal contract” is not the most important reason for these investment companies to repeatedly absorb funds. In fact, high interest rates are the most favorable promoter for private lending. According to this reporter, in Hengshui, the interest rate of private lending is generally between 1.5% and 2%. Calculated according to the monthly interest rate of 1.5%, depositing 500,000 yuan, can receive interest of 7,500 yuan per month, and 90,000 yuan a year. In these investment companies, the general deposit amount exceeds 1 million yuan, and the monthly interest rate can reach 2% or even higher. Even with a monthly interest rate of 2% and a deposit of 1 million yuan, you can receive an interest of 20,000 yuan per month and 240,000 yuan a year.

In the face of such high interest rates, investors are really hard to say no. You should know that in Hengshui, Hebei, the average monthly salary of ordinary office workers is around 3,000 yuan. The annual interest of 240,000 yuan is equivalent to 80 months of salary for an ordinary employee.

According to Liu Xu, in recent years, due to the increasing number of police alarms caused by private lending disputes, from the basic situation of the investors, most of them are middle-aged and elderly people who have spare cash. In the past two years, many financial institutions such as banks The employees of the work also began to deposit money to private lending companies and eventually caused disputes. Of course, there are indeed some investment companies that have very strict approvals, supervision, and investment targets. They are also doing well, and they are not in arrears with investors. "It would not be appropriate to kill them with illegal funds."

Liu Xu said, "The temptation of high interest rates is too great. We have been reminding the masses, polishing our eyes, cautious and rational investment, and not being blinded by the idea of ​​getting rich overnight. Generally speaking, if private lending is 15% The above-mentioned annualized rate of return, the risk behind it is already very large, but there are many people who choose an investment company with a yield of around 20%. Some investors only consider the rate of return, regardless of risk, so that some illegal companies can be arrogant. At the most popular time, some investment companies or individuals promise investors an annualized rate of return of more than 30%."

According to this reporter, investment guarantee companies do not belong to financial institutions or quasi-financial institutions supervised by financial regulatory authorities or local governments, but are ordinary industrial and commercial enterprises. They are in the blank of supervision and are often in the "everyone can manage and everyone does not care." "The situation." The public security department can only carry out the case investigation when the investment guarantee company is suspected of illegal fund-raising, illegal absorption or disguised absorption of public deposits or fund-raising fraud. Therefore, some investment companies have facilitated the use of regulatory gaps, through out-of-scope operations, illegal high-interest savings, and unable to cash in, they simply ran away.

  Investors “debt investment” are hard to pay

Under the leadership of Li Yuan, the "Securities Daily" reporter interviewed some investors who could not be redeemed.

Zhang Ming (pseudonym), who is in his 60s, used to have money in the bank. He received the leaflet at the corner of the square and knew the "Silver Trust Guarantee Company." "At the beginning, I didn't have a bottom in my heart, but when I came to their sales department, the company was luxuriously decorated. The salesman told me that the company was approved by the provincial administration for industry and commerce, and the registered capital exceeded 50 million yuan. It would not be bad for me. Investing in this money. In addition, the salesman also introduced that the boss of the investment company is not only the company, but also a real estate that is about to open next to him. He is the legal person of '** Real Estate Development Co., Ltd. The salesman also told me Even if the last investment company can't go on, at least there will be a house mortgage to me. So I saved 300,000 yuan, signed the contract for 1 year, 1.5% monthly interest, and called me 4,500 yuan interest on the 1st of each month. However, in the redemption period in early January 2015, the salesman told me that the company's capital turnover was difficult. I suggested that I renew the one-year contract, or pay the interest on a monthly basis, and return the principal in January 2016."

Zhang Ming also told this reporter: "At the time, I was not in a hurry to use the money. I did not communicate with the people around me. The vigilance was not high. I renewed the one-year contract. Who would have thought that until May 2015, the interest rate would not be hit on time. Go to my bank card. When I called the salesman, the salesman advised me to wait, and said that if I didn't want to wait, I could get a house. He told me that the company owner's real estate has some units. If I have not sold it, I can give priority to it. If there is a surplus of 300,000 yuan, I will continue to keep it according to the original contract. If 300,000 yuan is not enough, I need to make up the balance myself. I went to the real estate and turned, I can choose The units are not very comfortable, and they will not be able to keep the money."

Zhang Ming then explained: "Since then, after two months, my heart was not practical, I was afraid that the last money would be gone, the house was gone, and I went to find a salesman. Under the leadership of the salesman, I went again. Only when the real estate was discovered, only the large units and shops can be selected, and each house is close to one million yuan. That is to say, if I choose to have a house, I have to pay about 500,000 yuan, but this house can It’s still a problem to not sell, and I can’t get 500,000 yuan myself.”

Another citizen, Wang Hua (pseudonym), and Zhang Ming were caught in the dilemma of temporarily not receiving investment funds. Through a friend's introduction, she saved 500,000 yuan to “Jian Cai Guarantee Co., Ltd.” with a monthly interest rate of 1.5%. When she learned that the deposit exceeded 1 million yuan and the monthly interest rate could reach 2%, she borrowed 500,000 yuan from her friend and promised to pay a certain interest to her friend after the expiration. However, after the contract expired, the principal did not hit her card. When she went to the investment company's facade to ask, she found that Shen Cai Guarantee Co., Ltd. had already been a person.

Wang Hua then chose to report the case, but was told by the police: "There have been several reports related to this company. Although it has already started to investigate, it is not easy to recover the loss." Now Wang Hua has not only lost his own 500,000 yuan of principal and interest, but also carried a debt of more than 500,000 yuan.

Of course, there are also very few investors who are relatively "lucky" because they have been drawn early. Mr. Zhou is one of them. He told this reporter: "I started to save money in such investment companies seven or eight years ago, and I have changed a few more. The initial funds are only 100,000 yuan. The interest rate of the year is higher, and the monthly interest rate can reach 3%. After the expiration, I did not take it out, and added tens of thousands of yuan to save another year. Although the monthly interest rate dropped to about 2%, after that, I actually saved more than 1 million yuan. Last year, the child was preparing to study abroad, I took it out. For the most part, there are still 200,000 yuan left for another year. Although many companies have financial difficulties, my 200,000 yuan expiration may be difficult to get paid, but in general, there is at least no erosion."

  Housing enterprises stop working and push down "Dominoes"

“When the real estate market was hot in the past few years, there were a lot of real estate developers who dared to develop projects even if they got the money from the land.” A person involved in the development of real estate business in Hebei told the Securities Daily reporter. In the past, after the on-site placard, even the land transfer fee may not be paid. If you pay a part of it first, you will buy the land, and then go to the investment, or jointly develop or directly increase the price and change hands. Maybe a project has not been liquidated, the cost of the developer. Already returned and even the benefits have reached expectations, the next similar project can continue to start."

With the sluggish real estate industry in the third and fourth-tier cities in the past two years, the cycle of sales return for various projects has become longer and longer, and supervision in all aspects has been strengthened. Many banks, trust companies and other financial institutions have also begun to say “no” to real estate developers. ".

The staff of a trust company told the "Securities Daily" reporter: "The housing enterprises are big customers, and the scale of funds needed is based on '100 million yuan'. At the same time, the profit rate of housing enterprises is higher than that of some traditional industries, and can withstand higher Interest rates. In the past, real estate projects have always been our focus. However, in the past two years, our company has stopped lending to small real estate companies, and the financing business of real estate companies is stricter than before."

In this context, some housing companies have turned their attention to private lending because of the difficulty of financing. The model of high-interest-storage real estate projects from thousands or even more people has emerged as the times require. Investment guarantee companies and small loan companies of different sizes are also opening more and more.

Our reporter came to a prosperous section of Hengshui for a field visit. According to the business introduction of the nearby commercial outlets, "In this location, the rent of the 120 square meters of the upper and lower floors is about 20,000 yuan per month, the decoration cost is 100,000 yuan, and the purchase of computers, office chairs and other equipment is less than 50,000 yuan. Print some promotional color pages, and recruit more than 10 salesmen who can talk about the basics. The basic salary is about 1,500 yuan per person per month, and the total investment is about 400,000 yuan. Each salesman can usually save 1 million yuan per month, 400,000 yuan in the previous period. Yuan’s investment is nothing at all, and an investment guarantee company started operating like this.”

According to the "Securities Daily" reporter learned that in Hengshui, Hebei, many housing business owners have registered the investment company to operate their own business, saving a lot of intermediate links.

These investment companies generally lend the funds they have solicited to real estate companies and related industries. Due to the downturn in the real estate industry in the third and fourth-tier cities in the past two years, construction, cement, steel and other fields are also involved. The break of the real estate developer's funds has made it difficult for the investment guarantee company to return the money, and the investors who eventually lost their lives are the investors who have invested in their savings.

Housing enterprises are facing the dual pressures of high debt ratio and low return rate, and they have stopped working due to financial problems, and the domino effect has already occurred.

According to a salesman of “Yinxin Investment Guarantee Co., Ltd.”, “our company’s boss also has its own real estate company. At present, some projects under construction are applying for pre-sale permits, documents are ready, and the project is sold at this stage. The funding problem will be solved. Our boss does not and will not run, just hope that everyone can give a few months to solve the funding problem."

Subsequently, the "Securities Daily" reporter asked the salesman, when the so-called pre-sale permit can be successfully processed, the salesman replied: "The specific time is not easy to estimate, according to regulations, in addition to land use rights certificates, construction projects In addition to the complete certificate of planning permit, the main structure must be capped before it can be pre-sold. However, there is still a financial difficulty in the first layer of the cap, the project has been suspended, the boss can only raise money first, but there must be a solution to the problem. fixed."

Our reporter questioned the salesman’s statement: “Is there a funding gap in the real estate project, and I plan to use the funds of the next investor to pay the money that is due?”

The above salesman responded that “it is definitely not. Since many projects have already started to sell before they have been laid, the funds for development will soon be able to be returned, so there has not been any shortage of funds. Many developers have done this before.”

The staff member also explained: "Because there are individual investment company bosses running, there has been a surge in the recent tide. Investors who have not expired have also come to inquire and demand early termination of the contract, which has aggravated the difficulty of the company's capital turnover. I hope everyone can be a little bit safe and give us a few months to solve the problem."

According to a rough estimate by the Securities Daily reporter, real estate developers or their affiliates account for more than half of the list of companies that Hengshui is keen on private lending. In addition, the difficulties of the real estate industry also directly affect the downstream industries, resulting in a chain reaction. Some construction companies, cement companies, mixing plants, steel companies, and even small doors and windows processing companies have also been directly affected. The suspension of some real estate projects and the arrears of construction funds directly affected the employment of many migrant workers, and caused panic among some buyers. Everyone began to worry that the house they purchased became unfinished.

A real estate industry practitioner told this reporter: "In recent years, the absorption of funds from the private sector has become an important channel for the rapid financing of many housing companies. When the real estate market is good, these high-interest loans can support the company's healthy development and even Expansion, but with the cold of the real estate market in the third and fourth tier cities, high interest rates quickly overwhelmed the developers."

  Difficulties in bank storage

In the past, at the end of the season and at the end of the year, banks in many places in Hebei Province had experienced different levels of illegal storage behaviors – deposit cashbacks or deposit gifts. This is in fact not related to the prevalence of high-interest loans.

Since a large amount of private funds have poured into investment companies with high interest rates, banks have to issue various types of “huimin” policies to attract depositors. These include raising interest rates, saving prizes, giving in-kind or cash, but even such activities only attract some of the more conservative investors.

Some investors are worried that the deposits in the investment guarantee company will be "empty in the bamboo basket," but they still can't afford the high profits they have ever received. A citizen said to the "Securities Daily" reporter, "Now almost no one around me has money in the bank, even the bank's staff is no exception."

There are also rumors that there are individual bank staff, fictional loan agreements are cashed out from banks, deposited into investment guarantee companies, earning high interest rates. Now, when the contract expires, the investment company cannot return the principal, causing the incident.

In this context, banks naturally have to take into account the risk of loans in the real estate industry. According to a bank's staff: "In the internal classification of our bank, the real estate industry has been included in the credit 'blacklist'. Some well-operated real estate companies now have credit lines that are mainly used in the past. Part, not new. Although the loan of the real estate company will not be clearly indicated that it cannot be approved, but the stricter audit and the long review time also cause many housing companies to take the initiative to find other methods."

According to our reporter, some banks have issued internal notices, requiring all employees to carry out special investigations on “employee participation in private lending cases”. On the one hand, it is counted how many employees or family members of employees participate in private lending and statistics on whether losses have occurred; on the other hand, all employees are required not to violate the regulations to approve loans to investment companies or real estate enterprises that do not meet the credit approval conditions.

 Investors are more than developers expecting the spring of the real estate industry

Due to the difficulty of capital turnover in more and more investment guarantee companies, some investors in Hebei Hengshui experienced a runback panic, and some investors whose contracts have expired simply chose to sue in court. However, since many contracts signed by investors have already agreed on the annual interest rate of more than 24%, it has caused a lot of controversy.

The "Provisions of the Supreme People's Court on Several Issues Concerning the Application of Laws in the Trial of Private Lending Cases", which was implemented on September 1, 2015, has the following statement: "The borrowers and lenders have agreed on the overdue interest rate, and they agree on it, but not exceeding the annual interest rate. 24% is limited. "In the case of several investment companies that have difficulties in funding or running, many companies have agreed to an annual interest rate of around 30%. The courts generally first adopt mediation to resolve them.

Some investors are worried that the guarantee company will not be able to repay it at all, and the costs of litigation and application for enforcement will be ruined and will not be easily prosecuted.

According to the "Securities Daily" reporter, in the case of a large number of investment guarantee companies having financial difficulties, legal persons of companies with real estate or other industrial backgrounds have expressed their views, "will solve the funding problem as soon as possible, and will not damage the interests of investors. ".

However, there is an old saying in China that “the bag is safe.” As long as the investment funds have not returned to the hands, it is difficult for investors to really settle down. In the helpless wait, many investors even look forward to the spring of the real estate industry than the developers.

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