Jin Bao Bao P2P financing platform

Yan Qinbo reporter newspaper coverage of Chongqing

In early July, when the largest state-owned guarantee company in the western region, Chongqing Three Gorges Assurance Group Co., Ltd., launched the "Bao Bao Bao" which set up a P2P financing platform, it was officially launched. Despite the unwillingness of the Three Gorges guarantee to announce the platform's business scale, the information it discloses internally shows that the guarantee for the Three Gorges Project will put more small, medium and micro businesses into its own platform in the future.

According to 21st Century Business Herald, the yield of the "Campbell" platform remains at 9.5%, much lower than the average revenue of the existing P2P platform.

"The platform now has an integrated financing cost of less than 13% for small and micro enterprises, and our platform will also reduce this cost through the product portfolio in the future." Chen Su Su, Vice President of Three Gorges and Chairman of Platforms Jin Bao Bao told 21st Century Business Herald .

Reduce the cost of small and micro finance

In early July, Three Gorges secured a joint venture with Chongqing Zhengda Software Co., Ltd. to set up the Bao Bao Bao Internet financial platform with a total investment of 30 million yuan and guaranteed a stake of 51%. China National Open Financial Co., Ltd. holds a 33.3% stake in Three Gorges and is the largest shareholder of Three Gorges secured by Three Gorges Corporation and Yu Fu Asset Management Corporation.

"P2P outside the small and micro businesses to more than 20% of the financing costs, you said can support the development of small and micro businesses?" Chen Su-so asked reporters.

Chen Susu calculations, giving investors a 9.5% rate of return, "Jin Bao Bao" platform charge 1% intermediary fees, the Three Gorges guarantee income 2.5% of the guarantee costs, small and micro enterprises integrated financing costs can be controlled at about 13%.

This figure is even lower than with the "open source" P2P Kai Xin loan, the average cost of its corporate finance is 15%. According to 21st Century Business Herald reporter learned that several large-scale P2P platform in the southwest, given the financing costs of small and micro enterprises are more than 18%.

"So now P2P, most unspeakable is inclusive finance." Chongqing, a local financial sector so commented.

The other hand, the bank, the central bank 1-year benchmark lending rate of 6%, "banks generally go up 30% to 50%, plus the minimum guarantee cost financing costs are about 10%." Chen Su Su analysis.

Among bank loans, small and micro enterprises include all kinds of hidden costs in addition to the above costs. "Including a certain percentage of borrowing money to buy bank financial products, and the implementation of a higher real interest rate outside the contract, etc. About 13% of the financing costs have been very low." A local small business owner in Chongqing told the 21st Century Economy Reporter.

Three Gorges secured that in the future will continue to reduce the financing costs of small and micro enterprises, "It is still the idea, mainly through the product mix."

Chen Su-Su also introduced the financing side from the demand, until the successful loan takes about 2 to 3 weeks.

At present, the projects on the platform of "Golden Bao Bao" are mostly provided to the Small Enterprise Department of Three Gorges Guarantee. "The single financing amount is generally below 5 million and the control is below 2 million in the just on-line stage. The Three Gorges guarantee plan will also reduce the financing needs of medium-sized enterprises Included in. "Chen Su Su said.

Although Chen Su-su said inconvenient to disclose the size of the platform, but according to the Three Gorges insiders told 21st Century Business Herald reporter, Sanxia Guarantee Small Business Department of the business scale of about 2 billion, for the guarantee of up to 48 billion Three Gorges guarantee, "Campbell Paul "business accounted for no more than 4%," only a small part of the business. "

Survival of the transfer system on the line

"The platform is just on the line, with a standard time of about 1 day and a fast time of about 2 hours, hoping to attract more investors in the eastern coastal areas to support economic development in the western region," said Chen Su-su.

Relative to a number of P2P platforms, investors need to grab the standard software to grab the standard, "Campbell" market recognition has not been fully established. "And may not be too high yield, but the benefits and small business financing costs belong to both fish and bear's paw." The above-mentioned local financial analysts said.

Three Gorges secured that its large state-owned background and guarantees for related projects are still quite attractive to investors.

"The project risks will be compensated by the Three Gorges guarantee first and then recourse by the Three Gorges guarantee," Chen Su said.

The latest data show that the Three Gorges registered capital of 3 billion yuan, net assets of 4.8 billion yuan, one of the strongest guarantee companies in the western region.

"In the future we will also establish a transfer platform to allow customers to transfer their investment targets over their lifetime," added Chen Su-Su.

Three Gorges insiders also disclosed to reporters that the future depending on the platform does not rule out the possibility of the introduction of strategic investment.

"There is a project in the guarantee company that is tightened by bank credit restrictions and a P2P trend is set in. It is reported that Hanhua Financial Holdings, which was listed in Hong Kong alone, has set up a technology company in Beijing that specializes in Internet finance projects "An Internet finance company executive in Chongqing told 21st Century Business Herald.