Small real estate business private loan guarantee Fund chain

Morning News reporter Zhang Sa Bank of Real estate enterprise project loans generally tightened, some in the property market crazy rise when halfway decent developers encounter financing problems.　　Small real estate business insurance capital chain: Private Lending monthly 5% of banks to real estate enterprise project loans generally tightened, some in the property market crazy rising halfway decent developers encounter financing problems.　　The newspaper reporter learned that the Trust Company's financing costs are rising, some small and medium-sized developers have to turn to expensive private lending, to monthly 5% short-term funds to continue the real estate project capital chain. High cost of trust financing it is understood that the financing costs of trust companies have risen to 20% per cent or even higher in the context of the bank's "tightening" of real estate development loans.　　In general, the financing costs of developers to trust companies are only 15%-16% per annum. "If you count the hidden costs of developers trying to get loans from trust companies, many projects will cost more than 20% of their financing," he said. A person familiar with the trust industry pointed out that the Trust Company's financing costs are approaching the trend of private lending, "further higher, developers can not afford."　　"Trust-financing pricing is not completely transparent and trusts are" one-on-one "with corporate qualifications and project risk pricing, and trust companies have more room to negotiate against the backdrop of bank tightening of real estate development loans, the sources said.　　According to the introduction, in the market capital face the most tight 2008, the developer to trust Company's financing costs once soared to 30% per annum.　　Even so, a large number of property developers are unable to obtain financing from trust companies at high cost.　　Ping An trusts said that in principle no real estate projects to provide financing, unless the Yangtze River Delta region, long-term quality customers can be "a hole". A developer said that the bank refused to lend, the Trust company also selected projects to do, most can only find private loans to solve, "real estate projects are now difficult to finance, risk assessment is very large, to 20% from the Trust Company to (money) is very good."　　"Private lending" referred to by the person means a pawn shop, a guarantee company, a microfinance company, etc., which can provide short-term working capital. "Monthly generally in between 4 to 5 points (that is, 4% to 5%), and 90% of the situation are introduced as collateral, the day can be loans.　　"The developers said that the majority of the funding gap, relying on private lending solution."　　A pawn in Shanghai said that at present, for qualified developers, a single pen can lend up to 100 million yuan, monthly for about 4.2%.　　It's not going to last. Signal analysts say it is a dangerous sign that developers who have long relied on financial support are turning to private channels for borrowing. A City firm Big Customer Department introduction, the bank "tightens" the real estate development loan, this makes Shanghai some development commercial real estate enterprise almost "breaks the blood", "the policy is not clear, the house simply does not sell out, (the developer) has to consider to change the office building into the hotel apartment's small property right room, the operation sale." "If you retreatBy 2009, developers will be able to obtain loans from banks easily if they are mortgaged for the development of the property.　　It is understood that the 2009 property prices crazy rise, many lack of experience in the operation of real estate project owners, "rich second-generation" transformation to do the developers, now, such a lack of experience of developers constantly encounter the need to "Peter Paul" funding gap. "The leverage for developing real estate projects is high, is to continue to borrow money to operate, play to turn, support to buy a house money, there is a margin; if the house sell not smooth, always need working capital to support, one day can not go down, only the project ' rotten ' in there, be collected away.　　"The developers said. Su Xiejing, an analyst with the Yangtze Securities real estate industry, told the Morning News reporter that the real estate industry's project cycle in general in 1.5 to 2 years, the financing demand is mostly sustainable long-term funds, "if from the bank to trust, and then to private lending for short-term financing, such developers must be fast to endure." In January-July, real estate developers accounted for 3.8876 trillion yuan this year, up 39.4% from a year earlier, down 6% from last month. Su Xiejing In his latest report, "(July) The rise in the proportion of self-financing, which may be related to the earlier CBRC emphasis on real estate development loan risk, in the development of loan approval process more stringent implementation."　　"The investors are back in the" rookie-level "developers are struggling to fund the problem, those experienced large developers" life is very good. "　　Industry analysts say that large, qualified developers are less difficult to get development loans from banks, and almost occupy the available development loan quotas. In addition, recently in Shanghai around the city opened a few new plates, investors, speculators returned. "House prices do not see effective loosening, turnover and the trend of the rise." said the person.