Hongling Venture once again launched a large loan project

Yang Jiao

On July 24, Hongling Venture Capital Co., Ltd. once again launched a large-sum loan project to raise 200 million yuan for a certain enterprise in Jiangsu Province to pay for projects such as exterior wall decoration, hydropower, sky gardens and afforestation, 17.5%, the loan period is two years.

This is just the latest large-scale financing Hongling Venture Capital, as of now, it has launched such projects 17. Like the platform, P2P, which originally originated in small loans, has seen more and more platforms shift its focus to large-scale financing.

In order to adapt to the large-scale financing business, a number of platforms for such businesses have been looking for personnel and formal management teams from formal financial institutions such as banks. "First Financial Daily" reporter was informed that Hongling Venture clearly stipulates that the branch manager must have bank branch experience.

It is noteworthy that the financing channels are gradually restricted real estate, local financing platform, is seeking to "blood transfusion" through the P2P platform. In the current real estate prices fall, regulators repeatedly reminded the risk, perhaps in particular need to arouse the vigilance of these P2P platforms.

P2P transition large-scale financing

According to Hongling Venture Capital bulletin content, the financing side is a real estate development company, the repayment source for the sale of funds back, and the project itself is located in the local core area, covers an area of ​​over 8,000 square meters, the current real estate has capped, 419 sets, sales of up to 500 million yuan.

This is the latest large-sum loan business launched by Hongling Venture Capital since it was first launched in March this year. Website shows that as of now, in just 4 months, Hong Ling Ventures launched a similar project has reached 17, of which the largest financing up to 350 million yuan, at least there are 20 million yuan.

In March this year, Hongling Venture Capital financing business just on the line, that is, causing fierce controversy over illegal fund-raising. But in fact, Hong Ling venture capital is not the first attempt to P2P business platform. In the second half of last year, some P2P platforms set their sights on large loan businesses and completed project financing.

Among them, such as Gimhae in Shenzhen, although the single amount is not Hongling venture capital, but it has been clearly defined as SME financing platform. In an industry conference in October last year, its chairman Zhang Boyu had on the "First Financial Daily" told reporters that the platform is docking hundreds of millions of dollars in large projects.

"The amount of hundreds of millions of projects Daoshi did not start in May this year, we have reduced the size of a single number, the maximum amount under the control of 10 million yuan." Golden Sea operations director Xiao Haitao on the "First Financial Daily" reporter said out of the platform Its own characteristics and expertise, the development of the platform for SME financing P2B platform. However, in its recently announced project, borrowings from a municipal enterprise in Shenzhen still reached 20 million yuan.

The same is true of love investment in Beijing, the large amount of their single loans are more than 1 million yuan. According to the project information released by its website, in addition to the debt transfer category, the amount of financing of the three types of projects being issued is over 3 million yuan, the highest reached 10 million yuan.

"Large amount of financing is nothing new, and there are quite a few platforms for doing this. There are platforms in Beijing, Shanghai and Shenzhen." Xu Hongwei, the founder of Net Loan House, told the reporter of "First Financial Daily."

With more and more platforms involved, the business model of P2P large-scale financing has also been differentiated. Will be a large amount of financing split into several projects, this is the first Hongling Venture Capital, Gimhae loan is now also using this model, such as the Shenzhen Municipal Engineering Enterprise Financing 20 million yuan, Gimhae will be split Into 500,000 yuan to 1 million yuan range of projects, has been issued 16 times.

The investment in love has developed four kinds of business models: "love guarantee", "love financial lease," "love factoring", the latter two with the factoring companies, finance leasing companies, respectively, by the finance leasing company, Factoring company to the investors transfer of leasing rights, accounts receivable.

Hook angle bank

Since the launch of large-sum borrowings in just four months, the scale of such operations of Hongling Venture Capital can compete with banks almost. Public information shows that as of now, the total size of 17 large-scale financing of nearly 20 billion yuan.

This makes the rapid growth of platform volume. According to its previously released data, as of March 26 this year, Hongling Ventures cumulative turnover of 5.09 billion yuan, and up to now has reached 7.27 billion yuan, 4 months time turnover increased by nearly 2.18 billion yuan, the average monthly Turnover of more than 540 million yuan.

"Hongling venture regardless of business models, or personnel, more and more like a bank." Shenzhen P2P platform management said that in Hongling venture management team, many members from the bank, and the provisions of the branch is responsible for People must have experience as head of bank branches.

Gimhay loan the same. In the management team, Zhang Boyu served as a bank director, general manager of a number of state-owned bank branch manager, risk control, market and other departmental heads also have banking experience.

For this argument, Zhou Lingping, chairman of Hongling venture flatly denied. "We still have the essential difference with the bank, which can only be regarded as a supplement to the bank." Zhou Shiping told the "First Financial Daily" reporter that the person in charge of the branch office should be served by a bank branch manager experience, mainly due to risk control Considered, and they are familiar with business processes, business easy to use, easy to improve operational efficiency.

In fact, in addition to drawing on the experience of bank risk control, the more important purpose lies in the substantial resources accumulated during the banking experience. These are also the reasons why such platforms are regarded as "bank-type banks."

"We do a lot of financing also has a relationship with the platform of genes in the risk control also has its own set." Xiao Haitao also believes that, in addition to the formation of its own risk control mode, the need for large-scale financing business platform has some resources endowment, not All platforms have this ability. In the case of more funds and fewer projects, the project resources are of particular importance.

Zhou also admitted that, from the banking staff to find the management team, do have to consider the considerations of resources. However, he said: "Now everyone is tempted to talk about the model still earlier, and other regulatory requirements come out, but also make the appropriate adjustments."

Loan risk suspense

Although repeatedly claiming "bank replenishment" and Pratt & Whitney financial services, the essence of large-sum financing undoubtedly departs from this original intention.

"This is also the most controversial place, had propaganda is a supplement to the banking business, has now been more and more out of this position, and this slogan has become a veteran oil, put wherever used." Xu Hongwei said P2P platform itself Generally weak strength, simply unable to withstand the risk of large loans.

In fact, many large-scale financing is in the real estate, municipal construction, land storage and other fields blood transfusion. Public information shows, Hongling venture capital of the large-scale loan projects, part of the land collection and storage, real estate development, local financing platform, which involves real estate development at least eight, local financing platform has three, the project source throughout Hefei , Chongqing, Nanjing, Henan and other places.

On May 5, Hongling Venture Capital Co., Ltd. released projects originating from Chongqing with a financing scale of 100 million yuan. The financing party was a land receiving and purchasing center affiliated to a government in Chongqing. A 50 million yuan project announced on June 18 was Nanjing Minsheng project supported by the municipal government. In addition, its recent release of "Chongqing 5", "Jiangsu 2" and many other projects are real estate development projects.

When such projects are borrowed, the financing parties provide the corresponding collaterals and guarantees, but the collaterals and mortgages mostly include land and real estate. As the Jiangsu project, the lenders to 323 sets of collateral for the financing, the assessed value of 430 million yuan, and the project company 100% stake as a pledge. Most other projects are also used as a risk control measure in this way, with corresponding guarantees.

However, it should be noted that real estate loans have become the bank's main risk point. Recently, Yan Qingmin, vice chairman of the China Banking Regulatory Commission, said in an article that with the economic downturn, the real estate prices have eased, aggravating the financial and economic fluctuations, and have been the major factors in the bank's non-performing loans. Shanghai Banking Regulatory Bureau also issued a warning before the risk, it is recommended that banks under their jurisdiction concerned about the stock of real estate projects in the capital chain status, carefully involved in the new real estate projects in different places.

However, P2P platforms, including Hongling Ventures and Golden Sea Credit, seem to be aware of this. Such as the Jiangsu project, Hongling Venture, said in the explanatory material, although the loan contract period of two years, 4 months after the repayment in advance, in order to avoid not completed on schedule, the tender of 100 million yuan in the 30 months can be early repayment, another 100 million yuan for 24 months when early repayment, but are expected to advance repayment.

Xiao Haitao believes that for investors, small loans, although small single amount, but the overdue rate; and large loans may seem risky, but overdue. In the case of wind control in place, the risk of large-scale financing to a certain extent lower than the micro-loan business.

"Although the truth is true, but as long as the probability of one ten thousandth, either the platform itself or investors, will not be able to bear." Xu Hongwei said that drawing on the regulatory experience of bank lending concentration, P2P platform also need to large Raise alert on financing business.