Personal Loan Huiwen/Li Xiaochun Dong Shaoguang In the traditional credit business, banks only conduct credit risk assessment for the assets and strength of a single enterprise, so it is difficult to provide sustained and competitive financial services to individuals and small enterprises with grassroots background. Supply chain finance is the restriction that banks jump out of a single enterprise. Relying on the strength of core enterprises, the real basic transactions between core enterprises and upstream and downstream enterprises are tied together with credit. Through the closed operation of funds, the entry threshold of relatively weak small enterprises is lowered, and the bank's "green channel" package of services and certain interest rate concessions are enjoyed, which promotes the organic unity of "logistics" and "capital flow" to a certain extent, and is the most competitive organic combination of enterprise innovation and financial innovation. Constant change: the choice of the main business model of the supply chain, the choice of the supply chain customer base, and the core enterprise: refers to the industry that conforms to the national industrial policy orientation and has the characteristics of large scale, strong strength, core position and obvious technical advantages in the whole supply chain, which can be enterprises in or outside the province. Core enterprises' own strength and industry characteristics are the key factors of supply chain model structure. In principle, enterprises should maintain the growth of product market share and annual sales revenue for three consecutive years, and have strong management awareness and ability for upstream and downstream enterprises in the supply chain, clear industrial chain and rich customer resources. The upstream enterprises in the supply chain model refer to enterprises that directly provide raw materials, parts or services to the core enterprises in the supply chain. Downstream enterprises refer to enterprises that purchase the products of core enterprises in the supply chain for deep processing or sales, including suppliers, manufacturers, service providers, wholesalers, sellers and final consumers covering the industrial chain. In principle, the customers of small enterprises in the supply chain have cooperated with the core enterprises for more than two years. The main business income of economic entities with enterprise legal person status is basically stable, and their production and operation are normal. The legal representative/actual controller of the enterprise and its affiliated enterprises have good credit records, and there is no bad credit record and malicious evasion of debts in financial institutions. The enterprise management is standardized, and it has the ability to continue to operate and repay the principal and interest of loans on time. In addition, supply chain members can enjoy preferential policies provided by core enterprises, such as price reduction compensation, order guarantee, sales rebate and timely settlement. Enterprises need to have a sound financial accounting system and good financial indicators, and open a basic settlement account or a general settlement account in the handling bank. Supply chain mode selection: 1, * * Same debtor mode and debt confirmation mode * * The same debtor means that the core enterprise, as a co-existing debtor, and the upstream and downstream enterprises * * * jointly undertake the debts to the bank and fulfill the repayment obligations in accordance with the relevant regulations of the bank. Debt confirmation means that the core enterprise issues a written commitment to the bank, acknowledging that there is no dispute between the underlying transaction and the accounts payable, acknowledging the transferee status of the bank accounts receivable, and paying the accounts payable directly to the designated account of the bank at maturity. Or promise that when the upstream and downstream enterprises can't repay the bank financing in full and on time, they will buy back the goods, buy back the distribution rights, pay the price and directly repay the bank financing, and cooperate with the bank to recover. 2. Joint liability guarantee mode and system docking mode Joint liability guarantee refers to the contract that the core enterprise provides joint liability guarantee for the financing of upstream and downstream small enterprises. Or the core enterprise and the upstream and downstream enterprises participating in financing form a "risk margin fund pool" as pledge guarantee according to different proportions of credit lines, and the upstream and downstream enterprises participating in financing provide joint guarantee as supplementary guarantee. When the credit business of upstream and downstream small enterprises is not good, the deposits in the "fund pool" can be compensated first, or the core enterprises can jointly pay off the main contract debts of the borrowing enterprises. System docking or opening means that the core enterprise opens part of the right to use or query its management system to the bank, so that the banking system can be docked with the management system of the enterprise. Banks can monitor the transaction status of core enterprises and upstream and downstream enterprises in real time, realize the closed-loop control of capital flow and logistics, and realize the efficient cooperation of "capital flow-logistics-information flow". 3. The logistics financial mode combining movable property and cargo right. The enterprise transfers the right of goods to the bank. As the bank is the pledgee, it is not fully qualified to supervise the pledged goods. In the supply chain financial services, banks can give certain credit lines to logistics enterprises according to the scale and operational capacity of third-party logistics enterprises or professional markets. It not only has the function of the existing third-party logistics company, but also acts as a financing bridge between banks and production, supply and marketing. It also helps both parties to solve the problems of value evaluation and auction of the pledged goods, which not only makes up for the defects of the bank's management and control of the pledged goods, but also realizes real-time tracking of the value of each stage of logistics, handles property insurance with the bank as the first beneficiary, reduces the information asymmetry between enterprises and banks, and achieves the effect of "three wins". From the perspective of enhancing the competitiveness of enterprises, the competition of enterprises today is no longer the competition between companies, but the competition between supply chains. Core enterprises should attract more suppliers and distributors through good corporate image and financial management efficiency, and effectively integrate logistics, information flow and capital flow through complementary advantages among enterprises, so as to strengthen cost control, optimize resource allocation and enhance the competitiveness of the whole industrial chain in the market. As upstream and downstream small and medium-sized enterprises, while accelerating business development, they should strengthen their own management, take the initiative to connect with financial institutions, continuously improve speed and efficiency, accumulate credit records, achieve credit upgrading, establish a good corporate image, and improve the overall financing capacity of the industrial chain. From the bank's point of view, on the one hand, the supply chain model is not only conducive to broadening the scope of customers, improving the customer structure, and obtaining economies of scale by granting credit to small enterprises in batches, but also can use its own professional skills to provide small and medium-sized enterprises with relevant financial consultancy, trade financing, letter of guarantee and other services through diversified financial service platforms, increase the income of intermediary business and form cross-selling of financial products. On the other hand, the credit intervention of core enterprises and the strategic partnership between core enterprises and commercial banks can not only stabilize the high-end customers of banks, deepen the cooperative relationship between banks and enterprises, extend the perspective and tentacles of business cooperation, but also provide business opportunities for banks to expand new business growth points. Facing the increasingly fierce customer competition, the market competition of supply chain finance is also intensifying. Banks must speed up business transformation, take the market as the guide, and establish corresponding business institutions around the supply chain financial business. According to the strength and business changes of different industries and core enterprises, the effectiveness of upstream and downstream enterprise management, and the transactions between enterprises, this paper analyzes the market capacity of industries, the positioning of target markets and the value of financial development, and penetrates business into every business node of the supply chain and different development stages of enterprises to realize the diversification and differentiation of supply chain products. Tap the market potential, innovate a more targeted personal financial service plan, and change the uncontrollable risk of a single enterprise into the overall risk control of supply chain enterprises in terms of credit policy, thus activating the operation of the whole "chain". Banks should first integrate resource advantages, exert linkage effect, actively explore and tap core customer resources, and through signing strategic cooperation agreements and special cooperation agreements on industrial chain financial services, core enterprises will regularly recommend qualified upstream and downstream SME customers to banks to expand business channels from the source, which is the key factor for the sustainable development of supply chain business. Secondly, we should dig deep into the breadth and depth of financial services and explore the electronization and networking of supply chain financial services to meet the needs of modern supply chain management and competition. So that enterprises are no longer limited by physical outlets, they can handle the whole process of supply chain business such as commodity pledge and financing application on the Internet, realize the proceduralization and automation of transactions to the greatest extent, and cultivate loyal customer groups. Risk prevention and several internal strengths that commercial banks must strengthen their cultivation. At present, the management of supply chain members by core enterprises in China still lacks institutionalized means, the relationship between members is loose and the boundaries are vague, and the sense of belonging of upstream and downstream enterprises to core enterprises is weak. With the deepening of the downward pressure on the economy and the decline of the industry, some core enterprises are affected by many factors such as rising raw material prices, continuous appreciation of the RMB, and reduced product demand. , and often transfer the market pressure to the matching small and medium-sized enterprises in a competitive position, making the future profits of enterprises more uncertain, leading to the limited supply chain that banks can choose to develop, and it is difficult to break through the development space. In addition, at present, China's credit information system is not perfect, and once it appears, the litigation cost is often high, even exceeding the amount of creditor's rights. In addition, the business models of many domestic banks have not been standardized, and manual confirmation is needed in documents and accounts. Banks still lack management experience and means in tracking collateral, warehousing and fund supervision, price monitoring and even liquidation, which also increases the operational risks of banks to some extent. In particular, accounts receivable are different from the pledge of warehouse receipts, certificates of deposit, bills of lading and stock claims, and are also different from the pledge of movable property. They are just an internal bookkeeping account and informal creditor's rights certificates. China's current laws and regulations do not clearly stipulate the rapid realization of pledge. Its essence is to guarantee the realization of another creditor's right through the pledge of one creditor's right, and to monitor the prepaid "fund pool" through the "tripartite agreement", and its effectiveness depends on the authenticity and effectiveness of the commercial contract. Therefore, when the borrower seriously breaches the contract, the other party refuses to pay as agreed, or faces extreme situations such as the advance payment of litigation being enforced according to law and the bankruptcy of the enterprise, the creditor's rights of the bank do not have the priority to be repaid. In terms of credit management: urge core enterprises to provide banks with management information and transaction settlement records of the whole industry chain, realize seamless connection of all links by electronic means as far as possible, and effectively integrate all information, and analyze the main business scope, business qualifications, operating years, historical reputation, etc., especially whether the core enterprises' own operating conditions have changed significantly, and whether the transaction volume, settlement methods and settlement cycle with upstream and downstream customers have decreased significantly or even traded. Combined with the management ability of core enterprises to upstream and downstream enterprises, the credit situation of other banks, risk mitigation and other information, review the overall operation quality of the supply chain, ensure good customer access, reasonably determine the list of upstream and downstream enterprises, approve a certain amount of credit according to different industries or different types of customers, implement classified authorization management for the management ability of different branches, and control credit risk from the source. At present, China's relevant laws are still not perfect. The product design of financial service mode should aim at realizing the closed operation of supply chain funds in core enterprises and banks, set scientific and effective dynamic monitoring indicators, such as fund withdrawal rate and loans overdue rate, improve the construction of default database, regularly publish industry credit risk levels and industry credit guidance, and relevant rules and regulations should be clear and operable. Loans issued by banks or bank acceptance bills issued by banks should be delivered directly to the core enterprises, and the payment confirmation letter of the core enterprises should be obtained, and the route to ensure the withdrawal of funds should be agreed through tripartite agreements. At the same time, establish a regular reconciliation system, constantly improve the credit line management ledger and electronic platform construction, and design special repayment methods for different small and medium-sized enterprises according to their special cash flow status and payment frequency to realize information sharing and whole process management monitoring. When an enterprise is in loans overdue, the bank shall immediately notify the core enterprise to take relevant collection measures and suspend the credit business to the enterprise until all the credits are paid off. Accounts receivable financing: mainly for upstream enterprises. Accounts receivable factoring belongs to right transfer, and accounts receivable pledge credit belongs to right pledge. There are some differences between them. The account manager shall strictly examine the contracts, invoices and other vouchers provided by the enterprise through the supply chain management system of the core enterprise or the third party organization. Focus on the analysis of the effectiveness of the basic contract, determine whether the accounts receivable are based on real transactions, whether the main business of the source enterprise, whether there are defects, whether the financing period matches the accounts receivable period, and implement the two-way control of capital flow and logistics through the closed operation of property vouchers and financing funds. In addition, the account used to set the pledge must be allowed to be transferred according to the law or the agreement of the parties. If it cannot be transferred, it cannot be used for pledge. Other relevant factors, including the amount, time limit, payment method, the name and address of the debtor, the rights enjoyed by the bank performing the contract, and the obligations of the pledger, should be made clear in the process of signing the contract. Prepaid/payable financing: mainly for downstream enterprises. Focus on whether it is based on the advance payment generated in the real transaction, the continuity of the transaction background of the enterprise, the validity of the creditor-debtor relationship, the previous payment records and other basic information. If there is no dispute about the basic transaction, the customer should have signed a contract or order under the prepayment, and the bank can use the goods in the transaction and the income generated as the repayment source to provide financing and settlement services for the enterprise. The main products include: prepayment financing, order financing, packaged loans, remittance financing, opening domestic letters of credit, domestic letter of credit buyer's draft, opening bank acceptance draft, bill business communication, bill goods communication, etc. Mortgage financing of goods: financing and settlement services provided to enterprises mainly on the basis of goods and their income, such as warehouse receipt pledge business and confirmed warehouse business. , introduce third-party logistics supervision by pledging goods/rights. Under normal circumstances, the selection of inventory should meet the characteristics of legal and clear property rights, easy disposal and transfer, small market price fluctuation and convenient storage. Take the pledge bank as the first beneficiary to handle property insurance, disclose relevant information to the creditor bank in time and accurately, and set different upper limits of pledge rate according to different types of collateral and different value stability. Banks should designate special personnel to check whether the inventory circulation records are consistent with the progress of customer delivery and financing repayment, strengthen communication with regulatory authorities, pay attention to changes in storage conditions and fluctuations in market prices, and take price reduction compensation measures according to relevant requirements by using the trading information platform to ensure the quantity, quality and safety of pledged goods. Finally, it is necessary to check regularly or irregularly to ensure that the business is legal and compliant, and illegal operations are strictly prohibited. Emergency measures should be made for possible risks, and appropriate risk management tools should be selected for optimal combination to avoid, transfer and reduce risks. Facing the changing market and customer demand, we will strive to improve the professional quality of employees and enhance their ability to identify risks and operational risks at a deeper level. Authors: Dong Shaoguang, Risk Management Department of Bank of China Anhui Branch, Li Xiaochun, Vice President of Bank of China Suzhou Branch.
Three financing modes of supply chain finance
The three traditional forms of supply chain financing are accounts receivable financing, inventory financing and prepayment financing. In domestic practice, commercial banks or supply chain enterprises are the main participants in supply chain finance business. Because the research object of this series is supply chain enterprises, we mainly take supply chain enterprises as service providers when introducing supply chain financial models.
1. Accounts receivable financing
When the upstream enterprises provide credit sales to the downstream, which leads to slow recovery of sales money or difficult recovery of a large number of accounts receivable, when the upstream enterprises are not operating smoothly and there is a phased funding gap, financing can be carried out through accounts receivable. The financing mode of accounts receivable mainly refers to that upstream enterprises apply to supply chain enterprises for financing with accounts receivable as the repayment source in order to obtain funds, based on the accounts receivable generated by real contracts signed with downstream enterprises.
2. Inventory financing
Inventory financing mainly refers to mortgage financing with goods in the process of trade, which generally occurs when the enterprise has a large inventory or a slow inventory turnover, resulting in greater pressure and the enterprise uses the existing goods to cash out in advance. With the extension of participants and the innovation of services, there are various forms of inventory financing, mainly in the following three ways:
(1) Static mortgage and pledge. Enterprises use their own or legally owned inventory as mortgage loan business, and supply chain enterprises can entrust third-party logistics companies to supervise the mortgaged goods provided by customers and redeem them by remittance. In order to expand the scale of operation, enterprises can revitalize the backlog of funds through static goods pledge financing, and can carry out rolling operation after the redemption of goods.
(2) Dynamic mortgage and pledge. Supply chain enterprises can set a minimum value of goods for mortgage and pledge, and allow goods above the quota to leave the warehouse. Enterprises can barter goods, which is generally suitable for enterprises with stable inventory, consistent goods categories and easy verification of mortgaged and pledged goods.
(3) Warehouse receipt pledge. It can be divided into standard warehouse receipt pledge and ordinary warehouse receipt pledge, and the difference lies in whether the pledge is a futures delivery warehouse receipt. Among them, the standard warehouse receipt pledge refers to the financing business in which the enterprise takes the standard warehouse receipt legally owned by itself or a third party as the pledge, which is suitable for customers who buy and sell through the futures trading market and customers who hedge and avoid operational risks through the futures trading market.
3. Advance payment financing
On the basis of inventory financing, advance payment financing has been developed. On the premise that the buyer pays a certain deposit, the supply chain enterprises negotiate to pay the seller in full. After the seller delivers the goods according to the sales contract, the goods arrive at the designated warehouse, and the pledge is set as the guarantee of the advance payment.
How to finance supply chain finance? What are the financing methods?
The liquidity of a single enterprise is mainly occupied in three forms: accounts receivable, inventory and prepayments. According to the different guarantee measures, financial institutions divide the basic products of supply chain finance into three categories from the perspective of risk control and solution: accounts receivable financing, prepayment financing and inventory financing.
(1) Accounts receivable: accounts receivable financing. Accounts receivable financing refers to a financing method that small and medium-sized enterprises in the upstream and downstream of the supply chain borrow from financial institutions with unexpired accounts receivable on the premise that the core enterprises in the supply chain promise to pay. In this model, small and medium-sized enterprises in the upstream and downstream of the supply chain are the demanders of creditor's rights financing, the core enterprises are debt enterprises, and the counter-guarantee creditor's rights enterprises finance. Once the financing enterprises have problems, financial institutions will require the indebted enterprises to bear the responsibility of making up for the losses. Accounts receivable financing enables upstream enterprises to obtain short-term credit loans from banks in time, which is not only conducive to solving the short-term capital needs of financing enterprises, accelerating the healthy and stable development of small and medium-sized enterprises, but also conducive to the sustained and efficient operation of the entire supply chain.
(b) Prepayment: Analysis of financing methods for future cargo rights. In many cases, enterprises can't receive the spot goods within a certain period of time after payment, but actually have the right to the goods in the future. Financing of futures cargo rights (also known as confirmed warehouse financing) is a financing mode in which downstream buyers apply for loans from financial institutions to pay for the goods delivered by upstream core suppliers in the future, and the suppliers promise to buy back the goods that have not been delivered, and hand over the right to take delivery to financial institutions. In this mode, downstream financing buyers can use future sales income to extract goods from designated warehouses in batches and repay loans from financial institutions in batches without paying all the payment in one lump sum; The upstream core supplier mortgages the warehouse receipt to the financial institution and promises to buy back the remaining goods once the downstream buyer fails to repay the loan. Futures cargo rights financing is a kind of "hedging" financial business, which is easily used for market speculation of bulk materials (such as steel). In order to prevent false transactions, banks and other financial institutions usually need to introduce professional third-party logistics institutions to supervise the goods transactions of upstream and downstream enterprises of suppliers, so as to curb possible collusion between upstream and downstream enterprises in the supply chain and bring risks to the financial system. For example, many domestic banks entrust China Foreign Trade and Transportation Group (referred to as Sinotrans) to provide logistics supervision services for their customers. On the one hand, banks can grasp the real situation of logistics in the supply chain in real time and reduce credit risk; On the other hand, Sinotrans has also obtained transportation and warehousing services from these customers. It can be seen that the bank and Sinotrans have achieved a "win-win" in this process.
(III) Inventory category: analysis of financing mode of financing warehouse. In many cases, only one enterprise needs financing, and this enterprise has no corresponding accounts receivable and credit guarantee from other enterprises in the supply chain except goods. At this time, financial institutions can use the financing mode of financing warehouse to grant credit to them. The financing mode of financing warehouse is a financing mode in which enterprises take inventory as pledge and financial institutions give credit after being evaluated and proved by professional third-party logistics enterprises. In this model, the depreciation risk of mortgaged goods is the focus of financial institutions. Therefore, when receiving the application for financing warehouse business of small and medium-sized enterprises, financial institutions should examine whether the enterprises have stable inventory, long-term cooperative trading partners and the comprehensive operation of the overall supply chain as the basis for credit decision. Banks and other financial institutions may not be good at evaluating the market value of pledged goods, and they are also not good at logistics supervision of pledged goods, so this financing model usually requires the participation of professional third-party logistics enterprises. Financial institutions can give logistics enterprises a certain credit line according to the scale and operational capacity of third-party logistics enterprises, and logistics enterprises are directly responsible for the operation and risk management of financing enterprises' loans, which can not only simplify the process and improve the operational efficiency of financing enterprises' production and marketing supply chain, but also transfer their own credit risks and reduce operating costs.
I really want to know how supply chain finance is done.
Supply chain finance (SCF) is a professional field of commercial bank credit business (bank level) and a financing channel for enterprises, especially small and medium-sized enterprises (enterprise level).
It means that banks provide customers (core enterprises) with settlement and wealth management services such as financing, and at the same time provide convenience for suppliers of these customers to receive loans in time, or provide advance payment and inventory financing services for their distributors. (Simply put, it is a financing mode in which banks link core enterprises with upstream and downstream enterprises to provide flexible financial products and services. )
Reply time: 202 1- 12-22. Please refer to the latest business changes announced by Ping An Bank in official website.