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Hebei private high-interest loan sample: investors or bloodless

Time: 2016-03-15         Source: Securities Daily         Author: Securities Daily

  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 rises, investors Li Yuan (a pseudonym) barely feel any festive feelings of festive celebrations. All he can do is go to Hengshui Yinxin Investment Guarantee Co., Ltd.'s store every day. 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 learned of this news, Li Yuan seemed to be hit by thunder and lightning. He was in the lobby of Yinxin Investment.

According to the "Securities Daily" reporter, it is not just Li Yuan who is caught in a situation similar to private lending. In Hengshui, a small city affiliated to Hebei Province, only Yinxin invested more than 100 investors in a company. According to Li Yuan’s introduction, companies like Yinxin Investment only have more than 20 of them. Since the second half of 2014, there have been a number of investment guarantee companies in succession with financial difficulties, "deposits" cannot be redeemed at the end of their maturity, and some of the owners of investment guarantee companies have ran directly, leaving many investors with nothing.

High interest baitRepeatedly "pull deposits" succeeded

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 set up in some of the bustling streets, so that sometimes only one tens of meters long streets can gather four or five investment guarantee companies. From the second half of 2014, there have been successive difficulties in the circulation of guarantee company funds, and some companies have even closed down or ran.

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 followed the trust of 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' and have now formed a group of 'professional lenders' or 'sales managers' who 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 loan companies and investment guarantee companies, and in addition, there are more than 100 companies with the words “investment consulting” and engaged in the 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 rates. And the principal's collection account number and name. In addition, these form contracts have made detailed provisions on liability for breach of contract, even lawsuit fees, attorney fees, etc. that are 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 elderly 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.

Investor "debt investment"It is difficult to get cash

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 first, I didn't have the bottom, but I came to their sales department and the company was luxuriously decorated. The salesman kept telling me that the company was approved by the provincial Administration for Industry and Commerce. The registered capital was more than 50 million yuan, and it wouldn't 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 capital turnover was difficult. I suggest that I renew the one-year contract, or pay interest on a monthly basis, and return my principal in January 2016."

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 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 their investment funds. Through a friend's introduction, she deposited 500,000 yuan in "Tianjin 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 losses 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 at this kind of investment company seven or eight years ago. I changed several one after another. The starting capital was only RMB 100,000. The interest rate was even higher this year and could 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%. After a few years, I had enough of more than 1 million yuan. Last year, my child was ready to study abroad. 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 down"Domino"

“In the past few years when the real estate market was booming, there were many real estate developers who dared to develop projects that could not even get together.” A person 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 pay the first part of the land, they will look for investment, or jointly develop or directly increase the price, and then they will change hands. It has already been withdrawn and even the earnings have reached expectations, and the next similar project can be continued."

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 needed 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 has been stricter than ever."

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 been opening up.

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, soliciting more than 10 salesmen who can speak up and down the hall. The basic salary is about 1,500 yuan per person per month, and the total investment is about 400,000 yuan. Each month, each salesperson can usually save 1 million yuan, and 400,000 yuan in the previous period. The input of the yuan is nothing at all. An investment guarantee company began 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, a reporter from the Securities Daily asked the salesman when the so-called pre-sale permit was able to handle the success. The salesman replied: “The specific time is not well estimated. According to regulations, in addition to the land use right certificate and 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 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 the real estate project 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 the recent run. Investors who have not yet reached the end of the year have also started 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 a tail-end building.

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 rapid financing of many housing companies. 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 storageDevelopment loan tightening

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

As a large number of private funds have flowed into high-interest Lancang investment companies, banks have also had to publish various types of “huimin” policies 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 blue water”, they still cannot afford the high profits they have ever received. A citizen told the Securities Daily reporter frankly, “Now I have almost no people around the bank who have money in the bank. Even the bank’s staff is no exception.”

There are also rumors that there are individual bank staff, the fictitious loan agreement cash from the bank, deposited in investment guarantee company, earning high interest. Today, the contract expires, the investment company can not return the principal, causing incidents.

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 unfinished business. 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, statistics on how many employees or employees' family members are involved in private lending and whether statistics have recorded losses have occurred; on the other hand, all employees are required to refrain from illegally approving loans to investment companies or housing companies that do not meet credit approval requirements.

Investors expect more than developersReal estate spring

As more and more investment guarantee companies face cash flow difficulties, some investors in Hebei Hengshui have run into panic. Some investors who have already expired have simply chosen to sue in court. However, due to the fact that many investors 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 have difficulties in funding or are on the move, many companies have agreed that the annual interest rate is about 30%, and courts generally adopt mediation.

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 returned to their hands, it will be difficult for investors’ hearts to 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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