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Can a personal business loan be "mortgage"?

Time: 2016-07-08         Source: Wenzhou Business Daily         Author: Wenzhou Daily

Can a personal business loan be mortgaged? For most small and micro enterprises, the most annoying thing after getting a loan from a bank is to repay the loan. The funds have not been hot yet, and the repayment period is up. In the face of the bank’s “lending and lending”, the capital chain was broken. However, in the future, these companies can borrow for 20 years, and only use the bank to pay a little money each month. Recently, the reporter learned from the Shanghai Pudong Development Bank's Wenzhou Branch that the bank launched an upgraded version of its personal business loan last month – the “Affiliate Fast Loan” business, with a maximum period of 20 years, which can be repaid like a mortgage loan.

“Small and micro-enterprise owners generally have real estate. It is not too difficult to apply for personal business loans, but it is difficult to get loans from most financial institutions for a short period of one year.” The relevant person in charge of the Shanghai Pudong Development Bank’s Wenzhou Branch said that such loans The term is mismatched for the frequent and tight capital turnover of many small and micro enterprises. In desperation, it is necessary to pay a lot of money to borrow short-term funds to repay loans through the private lending market. With the adjustment of the annual financial policy and the degree of credit scale. Small and micro-business owners also have to bear the distress of submitting different credit data adjustments and the uncontrollable renewal loan approval period.

It is reported that the "household loan" is a personal business financing upgrade service product launched by Shanghai Pudong Development Bank for the financing difficulties of small and micro enterprises, difficult to guarantee, and the pressure of short-term loan repayment. The maximum loan amount can reach 10 million yuan. The mortgage rate is 70%. The current collateral for this business includes Wenzhou's effective properties covering Lucheng, Bohai, Longwan, Rui'an, Yueqing, Cangnan and Yongjia; Lishui covers real estates in Lishui, Jinyun and Qingtian; Hangzhou covers the main city of Hangzhou. It also has effective properties in the central area of ​​Binjiang District and Xiaoshan District; the Shanghai area covers the area within the Shanghai Central Link and the villas in the Shanghai area. The types of collateral include residential and commercial buildings. The review and approval can be completed in 2-3 business days.

According to the current standards of Shanghai Pudong Development Bank Wenzhou Branch, there are more than 200 eligible real estates and residential areas in Wenzhou City, and eligible collateral can be exempted from assessment. As for the interest rate concerns of lenders, the answer given by Shanghai Pudong Development Bank is that, depending on the region and the contribution of customers to the bank, the differential interest rate implementation method is adopted. The current average interest rate is 15%-25% of the benchmark interest rate. . The current benchmark interest rate for the five-year period or above is 4.9%, calculated by the median of 20%, and the effective interest rate is 5.88%. Suppose a business owner mortgages his own property and obtains a loan of 1 million yuan. He uses the same amount of principal and interest to repay the loan. Then, he needs to return the bank 7095.25 yuan per month, and the accumulated interest paid is 720,861 yuan.

It is reported that since the launch of the business, it has been welcomed by the market. In just a few days, the Shanghai Pudong Development Bank Wenzhou Branch has issued the loan of nearly 10 million yuan.

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