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Hebei private high-interest loan sample: investors or bloodless

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

Summary:

There are many private high-interest lending companies in Hebei, but the market is turbulent and there is a serious lack of supervision. There are not a few investors who have lost their investments.

 Housing companies stop work to push down dominoes

At the end of the quarter and the end of the previous years, some banks in Hebei Province had experienced various levels of illegal rampages, which is not unrelated to the prevalence of private high-interest loans.

From New Year's Day to the Spring Festival and then to the festive “February 2′′ dragon rise, investors Li Yuan (a pseudonym) barely feel any festive feelings of festive celebrations, all he can do is to go every day to Hengshui “Yinxin Investment Guarantee Co., Ltd.” store Turning around, I look forward to being able to redeem for more than a year before leaving the company's "deposit". However, to this day, his wish has still not been reached.

If time can be reversed, Li Yuan will certainly not repeat the mistakes of the previous gullible: In October 2014, Li Yuan had “deposited” 500,000 yuan in Yinxin Investment for a term of one year with an agreed monthly interest rate of 1.5%; October 2015 After the so-called “deposit” expired, the sales staff told Li Yuan that the company’s cash flow could not be opened and that it could not be honoured before the end of 2015. The specific redemption time was announced separately. When we heard about this news, Li Yuan seemed to be hit by thunder and lightning. in the hall froze bank letter of investment.

According to the "Securities Daily" reporter, it is not just Li Yuan who is caught in a situation similar to private lending. Hengshui in Hebei Province is part of the town, only silver letters invest in a company's investors over one hundred people. According to Li introduced, such as this type of investment bank letter of company, there are only 20 more than he knows. From the second half of 2014, after another several companies with financial difficulties Investment Guarantee "deposit" maturity can not be redeemed, as well as some direct Investment Guarantee Corporation boss on foot, so many investors lose everything.

 High interest rates do bait

According to the "Securities Daily" reporter, in recent years, Hengshui has emerged many kinds of 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 of the bustling streets, so that sometimes only a few tens of meters long streets can gather four or five investment guarantee companies. Since the second half of 2014, there have been successive difficulties in the circulation of funds by guarantee companies, and some companies have even gone bankrupt or run.

Investor Mr. Wang told this reporter that “I lent my money to a friend a few years ago. He said that he can make a high interest rate rebate. He put together a few friends’ money and deposited it in an investment company, according to a monthly interest rate of 2%. I paid it to us in a month and returned it to me one year later. Since he has been paying back the money on schedule, I have also believed in these investment companies. A year ago, I myself also selected a company 'deposit', resulting in 'deposits' 'The money that expires can't be taken out. I had to call the police first and wait for the police to inform.'

The local case police Liu Xu (a pseudonym) told the "Securities Daily" reporter that "previously disputes between private lending occurred mostly among acquaintances, but in recent years, as everyone's acceptance of investment guarantee companies increased, Private loans have evolved from 'acquaintance transactions' to 'spend money with money'. Now that a group of 'professional lenders' or 'sales managers' have been formed, they are employed by various investment companies and sometimes earn money. The difference in interest."

According to the reporter’s understanding, in this small, economically underdeveloped city, there are nearly 100 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 welcome them to a formatted contract. Investors only need to fill in names, investment amounts, and deadlines for selection. Investment companies generally promise to pay interest on a monthly basis, repay the principal when due, and agree on good interest. And the principal's collection account number and name. In addition, these form contracts have made detailed provisions on liability for breach of contract, and even lawsuit fees and attorney fees required to trigger litigation.

“These contracts look very formal,” and we also believe that the investment company will fulfill its commitments, Mr. Wang said.

Of course, the "appearing to be a formal contract" is not the most important reason why these investment companies illegally absorb funds repeatedly and succeeded. In fact, high interest rates are the most favorable promoters of private lending. According to the reporter’s understanding, in Hengshui, the interest rate for private lending is generally between 1.5% and 2% per month. Calculated according to the monthly interest rate of 1.5%, deposit 500,000 yuan, and receive 7500 yuan monthly interest, which is 90,000 yuan a year. In these investment companies, the general deposit amount exceeds 1 million yuan, the monthly interest rate can reach 2% or even higher. Even if calculated according to a monthly interest rate of 2% and a deposit of 1 million yuan, a monthly interest of 20,000 yuan can be received, which is 240,000 yuan a year.

Faced with such high interest rates, investors are really hard to say no. You know, in Hengshui, Hebei, the average monthly salary of ordinary office workers is about 3,000 yuan. The annual interest of RMB 240,000 is equivalent to an ordinary employee’s salary of 80 months.

According to catkins, in recent years, more and more alarms have been triggered by private lending disputes. From the perspective of the basic situation of the investors, the oldest middle-aged and old people are mostly idle cash. In the past two years, many banks and other financial institutions have been involved. The employees at work also began to deposit money with private lending companies and eventually caused disputes. Of course, it is true that some investment companies have very strict approvals, supervisions, investment targets, etc., and operations are also good. They have not defaulted on investors. “It would seem to be inappropriate to use illegal funds to pay for death.”

Catkins said: “The temptation of high interest rates is too great. We have been reminding the people, keeping their eyes open, and investing cautiously and rationally. They must not be fooled by the idea of ​​getting rich overnight. Generally, private lending is 15%. The above annualized rate of return, the risk behind it is already very large, but there are a lot of people choose investment companies with a return rate of around 20%. Some investors only consider the rate of return and do not consider the risks, leaving some illegal companies organically At the time of the hottest, some investment companies or individuals promised investors more than 30% annualized returns."

According to the reporter’s understanding, 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 area of ​​supervision and are often “everyone can manage and everyone "The situation. The public security department can only conduct investigation on the case of an investment security company suspected of illegal fund-raising, illegal absorption or disguised absorption of public deposits or fund-raising fraud. Therefore, some investment companies facilitate the use of regulatory vacancies, operate through out-of-scope operations, and illegally hold high interest rates. When they fail to honour, they simply run away.

  Investors' debt investment "but difficult to obtain payment

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

Zhang Ming (a pseudonym) in his 60s had previously kept the money in the bank, and the flyers that were distributed during the winding of the square learned of the “Silver Trust Investment Guarantee Company”. “At the beginning, I didn’t have the bottom, but I came to their sales department. The company’s decoration was luxurious. The salesman kept telling me that the company was approved by the Provincial Administration for Industry and Commerce. The registered capital was over 50 million yuan, and it would not be worse for me. In addition, the salesman also introduced that the owner of the investment company is not only this company, but also a real estate that will soon be opened next to him. He is the legal person of '** Real Estate Development Co., Ltd. The salesman also told me that Even if the last investment company does not survive, at least there will be a house mortgage to me. So I saved 300,000 yuan, the contract was signed for 1 year, a monthly interest rate of 1.5%, on the 1st every month to call me 4,500 yuan interest. However, in the redemption period at the beginning of January 2015, the salesman told me that the company's cash flow was difficult. I was advised to renew the one-year contract or pay monthly interest. In January 2016, I returned the principal.

Zhang Ming also told this reporter: “At that time, I was not in a hurry to use money, did not communicate with the people around me, and was not vigilant, so I signed a one-year contract. Who would have thought that by May 2015, interest would not be played on time? To my bank card, when I called the salesman to ask me, the salesman advised me to wait, and also said that if I didn't want to wait, I could get a house.He told me that there was a part of the house ownership of the company's owner. After the sale is completed, I can give priority to the selection.If the amount of 300,000 yuan is left, I will continue to keep the original contract. If 300,000 yuan is not enough, I need to make up for the balance myself. The layout of the units is not in line with the mind, and nothing will be done. We continue to keep the money."

Zhang Ming then explained: “Since then, after another two months, my heart was not practical, I was afraid that the last money was gone, the house was gone, and I went to the salesman again. Under the leadership of the salesman, I went again. It was discovered during that time that only large units and shops could be selected, and each house was close to one million yuan, which meant that if I chose to have a house, I would have to pay about 500,000 yuan, but this house could It's still a problem not to sell, and I can't get 500,000 yuan myself.”

Another citizen, Wang Hua (a pseudonym), and Zhang Ming were caught in the dilemma of temporarily failing to return investment funds. Through a friend's introduction, she deposited 500,000 yuan in "Treasure Guarantee Co., Ltd." with a monthly interest rate of 1.5%. When she learned that the deposit was more than 1 million yuan, and the monthly interest rate could reach 2%, she borrowed 500,000 yuan from her friend and promised to pay friends a certain interest after the expiration date. However, after the contract expired, the principal did not hit her. When she went to invest in the company's facade room, it was discovered that Shenjin Security Co., Ltd. had long been a person to go empty.

Wang Hua then chose to report the crime but was informed by the police: “Several reports have been received in connection with this company. Although the investigation has started, it is not easy to say whether or not the loss can be recovered.” Now Wang Hua has not only lost his own. The principal and interest of 500,000 yuan also carries more than 500,000 yuan in debt.

Of course, there are also very few investors who seem to be "lucky" because they are getting out of bed. Mr. Zhou, the citizen, is one of them. He told this reporter: “I started saving money in such investment companies seven or eight years ago. I have changed several ones in succession. The starting capital is only RMB 100,000. The interest rate is even higher this year and can reach a monthly interest rate of 3%. After the expiry date, I did not take it out, add another tens of thousands of yuan for another year, and after that, the monthly interest rate dropped to about 2%, and over the past few years, I had enough of more than 1 million yuan. Last year, the child was ready to study abroad and I took it out. Most of them left with 200,000 yuan remaining for a year. Although many companies now face financial difficulties, it may be difficult for my 200,000 yuan to expire, but at the very least, there is no loss."

  Housing prices stop work down "Domino"

“In the past few years when the real estate market was booming, there was a lot of real estate developers who had dared to develop projects that could not even get their money together.” An individual who was involved in the development of real estate business in Hebei told the “Securities Daily” reporter. “ In the past, after placarding the cards on the spot, they may not even pay the land transfer fees, and even if they first pay part of the 'buy the land', then they will look for investment, or they will jointly develop or directly increase the price and change hands. It may be that a project has not been liquidated yet. The cost of the developer It has already been withdrawn and even the earnings have reached expectations. The next similar project can continue to be started."

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

The staff of a certain trust company told the "Securities Daily" reporter: "The housing enterprises are large customers, and the scale of funds required is all 'RMB' as a unit. At the same time, the profit rate of the housing enterprises is relatively higher than some traditional industries and can withstand higher prices. The past, real estate projects have always been the focus of our attention, but in the past two years, our company has stopped lending to small real estate companies, and the financing business of real estate companies is also stricter than before.

In this context, some housing companies have no choice but to turn their attention to private lending. The pattern of high-interest absorption and storage of real estate projects from thousands of people or even more people has emerged. Investment guarantee companies and microfinance companies of different scales have also become more open.

The reporter went to a busy area in Hengshui for field visits. According to the business outlets of the nearby commercial sites, "in this area, the rent of 120 square meters of shops on both floors is about 20,000 yuan per month, the renovation cost is 100,000, and the purchase of computers, office furniture and other equipment is less than 50,000 yuan. Print some propaganda color pages, solicit more than 10 salesmen who can speak and preach, the basic salary is about 1,500 yuan per person per month, and the total investment is about 40 million yuan, and each salesman can usually save 1 million yuan each month, and the previous period is 400,000. The yuan's investment is nothing at all. An investment guarantee company started to operate."

According to the "Securities Daily" reporter, in Hengshui, Hebei, many owners of housing companies to facilitate financing, but also registered the investment company's own business, eliminating the need for many intermediate links.

These investment companies generally loan the funds they sow to real estate companies and some related industries. Due to the downturn in the real estate industry in the third and fourth-tier cities in the past two years, many fields such as construction, cement, and steel are also involved. The real estate developer’s funds have been broken, which has caused investment guarantee companies to fail to make payments. Ultimately, they are the investors who have taken their savings into their lives.

Housing enterprises face double pressures of high debt ratios and low repayment rates. Capital problems have arisen and work stoppages have resulted in domino effects.

According to a salesman of Yinxin Investment Guarantee Co., Ltd., “Our company’s boss also has its own real estate company. At present, there are some projects under construction that are applying for pre-sale licenses, and the documents are in place at the present stage. The problem of funding will be solved. Our boss does not and will not run away. I just hope that everyone will give him a few months to solve the funding problem."

Subsequently, the "Securities Daily" reporter asked the salesman, when the so-called pre-sale permit can handle the success, the salesman replied: "The specific time is not good estimates, according to the regulations, in addition to land use rights certificate, construction project In addition to the completeness of the planning permit and other certificates, the main structure must be capped for pre-sales, but now it is still difficult to obtain a fund because of the capping of the top layer, the project has been suspended, and the boss can only raise money first, but the problem will surely be resolved. fixed."

The reporter questioned the salesman’s claim: “Is there a funding gap in real estate projects and I plan to use the money of the next investor to repay the money due?”

The clerk responded by saying that "certainly not, because many projects have already started selling before the foundation has been hit, the funds for development will soon be able to be repatriated, so there have been no financial constraints. Many developers used to do this before."

The staff member also explained: "Because there are individual investment company owners running away, there has been an upsurge in recent days. Investors who have not yet reached the end of the year have also begun to inquire and asked for an early termination of the contract, which has exacerbated the company's cash flow difficulties. I hope that everyone will be able to stay safe and give us a few months to solve the problem.”

According to a rough estimate of the "Securities Daily" reporter, in Hengshui's list of enterprises that are keen on private lending, real estate developers or their affiliates account for more than half. In addition, the difficulties in the real estate industry also directly affect the downstream industries, resulting in a chain reaction. Some small companies, such as construction companies, cement companies, mixing plants, steel companies, and even windows and doors, have also suffered direct impacts. The suspension of some real estate projects and the arrears of construction funds directly affected the employment of many migrant workers. At the same time, it triggered panic among some buyers. Everyone began to worry that the house they purchased would become an unfinished building.

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

  Difficulties in bank storage development

In the past, at the end of the season and at the end of the year, banks in many provinces in Hebei province had experienced varying degrees of illegal behaviors such as cash back deposits or deposit gifts. This is not unrelated to the prevalence of private high-interest loans.

Because a large number of private funds have flowed into high-interest Lancang investment companies, banks have also had to issue "huimin" policies in various ways to attract depositors. These methods include raising interest rates, saving prizes, giving donations in kind, or cash, but even such activities only attract relatively conservative investors.

Although some investors worry that the deposits of investment guarantee companies will “get out of the blues”, they still cannot afford the high profits they once received. A citizen told the Securities Daily reporter frankly, “Now I have almost no people around the bank who have the money, and even the bank’s staff is no exception.”

There are also rumors that there are individual bank staff, the fictitious loan agreement is cashed out from the bank, deposited in the investment guarantee company, to earn high interest rates. Now that the contract has expired, the investment company cannot return the principal, causing an incident.

In this context, banks naturally have to take into account the real estate industry's loan risk. According to the staff of a bank, “Our bank's internal classification has already included the real estate industry as a credit blacklist.” Some well-run housing companies now have credit lines that have mainly come from unused funds. Some, but not new, housing loans Although we do not explicitly indicate that we cannot obtain approval, the tightening of audits and the lengthy review period have caused many housing companies to actively seek alternative methods.”

According to our reporter’s understanding, some banks have issued internal notices requiring all employees to carry out special investigations on the “risk of employees participating in private lending cases”. On the one hand, we counted how many employees or employees' family members participated in private lending and whether there was any loss in the statistics. On the other hand, all employees were required to illegally approve loans from investment companies or housing companies that did not meet the credit approval requirements.

 Investors look forward to developers

As more and more investment guarantee companies face cash flow difficulties, some investors in Hebei Hengshui have run into panic. Some investors whose contracts have already expired have simply chosen to sue in court. However, due to the fact that many investors have signed contracts with an annual interest rate of more than 24%, many disputes have arisen.

The "Supreme People's Court Provisions on Several Issues Concerning the Application of Law in the Trial of Private Lending Cases" that came into effect on September 1, 2015 have the following statement: "If the lenders and borrowers have agreed on overdue interest rates, they should agree that they should not exceed the annual interest rate. 24% is the limit.” Among the several investment companies that are facing financial difficulties or are on the road, many companies have agreed that the annual interest rate is around 30%, and courts generally adopt mediation methods to solve them.

Some investors are worried that the guarantee company will simply not be able to repay. Finally, the costs of litigation as well as the application for compulsory enforcement will be deducted and they will not be willing to prosecute easily.

According to the "Securities Daily" reporter, in a situation where a large number of investment guarantee companies are facing financial difficulties, legal persons of real estate companies or other industrial companies have expressed their opinions. "We will solve the capital problem as soon as possible and will not let the interests of investors be damaged. ".

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

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