The future of Peer-to-peer network loan platform: Focus on small micro-enterprises

The current Peer-to-peer platform development in full swing, a great spark can prairie. Some people think that internet finance will subvert traditional finance, some people think that peer-to-peer industry is only a temporary rise of the precarious. The author believes that the Peer-to-peer lending industry will not subvert the traditional financial business, nor is it a short-lived industry, but a new industry that coexists with the traditional finance, complements each other and has a great future.

In the usual sense, peer-to-peer lending is regarded as a kind of sunshine display of private financing and a very risky industry. At present, the interest rate of peer-to-peer lending market is roughly about 24%, and Peer-to-peer platform gives investors an average return of about 17.5%, which is much higher than the loan rate of traditional financial institutions. Such a high financing cost, which customers will be to the Peer-to-peer platform to borrow money?

The current peer-to-peer lending industry involves a number of borrowers who are unable to obtain financing in traditional financial institutions, such as individuals with difficulty in obtaining bank financing, small micro-business owners, farmers and so on. Because the traditional financial institutions for the majority of borrowers demand a good credit record, full collateral, so some individuals, small micro-enterprises and even large and medium-sized companies do not have access to traditional financial institutions to borrow money, they need to borrow, they have to apply to peer-to-peer agencies more expensive financing.

That being the case, why the future of Peer-to-peer platform in small micro enterprises? The following details describe the characteristics of these three types of borrowers.

One, with a certain scale of large and medium-sized companies

For large and medium-sized companies with a certain scale, because of the large scale of assets, financial data norms, relatively adequate collateral, is generally the object of traditional financial institutions, often can be more convenient access to commercial banks, trust companies, large financial leasing and other traditional finance institutions issued funds and relatively low relative interest rates.

With the continuous opening of financial industry in our country, the increasing of finance media and the widening of financing channels, more and more enterprises with good financial regulation will get more convenient and lower cost funds. Therefore, in most cases, the vast majority of large and medium-sized customers will not become Peer-to-peer customers.

In reality, a lot of peer-to-peer organizations in order to quickly do large-scale, reduce costs, are trying to expand large and medium-sized companies of large financing, this virtually exposed the huge risk. Here is a reminder that investment should be wary of such platforms. For example, in August 2014, a well-known Peer-to-peer platform in Shenzhen, and Guangzhou paper has been exposed to the 100 million yuan loans occurred in bad debts, fully explained the risks of such businesses.

Why is the Peer-to-peer organization Big enterprise customers, the risk is huge? We might as well analyze this:

First, according to the National Bureau of Statistics, the initial accounting data, 2014 GDP growth of 7.4%, the national scale above the industrial value added by comparable than the previous year growth 8.3%,p2p lending industry to investors return interest rate average of more than 17%. Obviously, for enterprises above the scale, their own operating profits make it impossible to withstand up to 18% of the loan.

Second, for enterprises above the scale, the management is relatively standardized, there should be a clear production planning arrangements, there will be no regular temporary funding shortage. Even if there is a temporary shortage of funds, through the traditional commercial bank credit can also be easy to finance.

Third, if there is a company really willing to bear such a high interest rate to peer-to-peer platform loans, usually is the operation of the capital problems, the capital chain is very tense, which virtually increased the risk of borrowing. Four, Peer-to-peer platform for large enterprise customers to finance, and the National positioning Peer-to-peer platform for the main service small micro-public, do the spirit of the general Hui financial contrary. Therefore, we can determine that large and medium-sized enterprise customers should not be a peer-to-peer platform of the main customer goals.

Second, individual customer

For some individual clients, China is now one of the countries with the highest saving rate in the world because of the conservative consumption concepts and habits of the Chinese people. The Chinese are afraid to spend, not to borrow.

Ordinary salaried workers, it is difficult to become a Peer-to-peer platform target customers. The main reasons are as follows:

First, as of the end of 2014, China's urban and rural savings balance reached 489798 trillion, China's per capita savings reached 37000 yuan, it is not difficult to let the people's Congress to call China is too rich.

Second, according to the data of the People's Bank, as at the end of the three quarter of 2014, the domestic credit card accumulated 436 million cards, the total credit is 5.32 trillion yuan, credit card end of the total amount of credits for 2.19 trillion yuan, the use rate of 41.17%. It is not hard to see that there are still more than 3 trillion credit card financing quotas available, and that future credit card overdraft can still largely boost personal consumption.

Third, in addition to credit cards, at present, with the introduction of "Consumer finance company pilot management measures", more and more financial institutions apply for the establishment of professional consumer finance companies, such as BOC Consumer finance company, General Motors Finance Corporation, Xingye Consumer Finance Corporation, etc., such consumer finance companies will also cover more and more personal consumption, Will further squeeze the individual microfinance market space.

Finally, the newly-opened private banks are bound to bring great challenges to the current financial system, and the introduction of Internet financial gene will really push forward the financial system reform, and the personal financial consumption will also produce the chain mutation. Finally, because of the small amount of personal financing, borrowing rate is relatively low and the possibility of repeated borrowing is small, it is difficult for individuals to become Peer-to-peer key customers.

Three, a large number of small micro-enterprises

For small micro-enterprise customers, due to a large number of small micro-business owners in a conscientious effort to operate, in many cases, there is indeed a large number of real financing needs.

But why is there a small micro-enterprise financing difficult phenomenon? The reasons are summarized as follows: four.

First, small micro-enterprises are relatively weak management base, excessive concentration of property rights, accounting system lag behind, lack of approval of the audit Department of financial statements, increased the bank's review of the strength and difficulty.

Second, small micro-enterprises operating risk, physical assets, low technical level, wind resistance is weak, affecting the small micro-enterprises own capital accumulation and credit financing.

The third is that the credit concept of small micro-enterprises is poor and the moral risk is outstanding, which leads to the inability of financial institutions and potential investors to accurately judge the operating risk and financial risk of small micro enterprises.

Four, small micro-enterprises lack the necessary collateral, directly affect the traditional financial institutions to small micro-enterprises credit audit and distribution. Because small micro-enterprise financing without door, this is precisely to the Peer-to-peer platform to bring opportunities.

However, because small micro-enterprises are mostly related to the "basic necessities" of daily life industry, although small micro-enterprises financing difficulties, there are indeed a large number of small micro-entrepreneurs in the operating enterprises at the same time achieved a certain economic returns, it is worth Peer-to-peer platform to provide financing.

First of all, the majority of small micro-enterprises are indeed to meet the diverse needs of residents, in order to increase social employment, enhance economic development momentum, promote innovation and play an important positive role. Second, because small micro-enterprises have a certain operating entity, with a certain solvency, the amount of loans relatively small, can accept relatively high interest rates, to peer-to-peer platform to create economic profits. Finally, small micro-enterprises have a certain business cycle, often occur recurrent, periodic loans, to a certain extent, become a peer-to-peer platform loyal customers, real and peer-to-peer platform for a total growth. In addition, small micro-enterprises have relatively small assets, the main business is relatively clear, in most cases for credit loans, through a certain wind control means, can be relatively rapid and simple identification of risks.

To sum up, the future development of Peer-to-peer platform should perhaps focus on small micro-enterprises, committed to a large number of small micro-enterprises to provide micro-short-term credit loans, but also for the national economic construction, for the development of the country's financial sector has made a positive contribution.