How to apply for Ali’s small loans

Analysis of Ali’s small loans loan model

Alibaba Finance is coming in force. This year, Ali’s credit business will be opened to ordinary members in Jiangsu and Zhejiang regions to achieve The single-day interest income of 1 million yuan caused a tremor in the banking industry.

On China’s largest e-commerce platform with an annual transaction volume of over one trillion yuan, the unsecured, unsecured, and purely credit-based small loan model continues to refresh the speed of capital circulation. The core of Alibaba Finance's batch lending is Alibaba big data.

Alibaba Finance was born in 2010. "If the banks don't change Alibaba, Alibaba will change the banks." Jack Ma's rallying cry shattered the ridicule and superciliousness of the year, and now continues to cause earthquakes in the financial system.

Alibaba Finance mainly provides small business loans, with interest calculated on a daily basis, borrowing and repaying at any time, and no guarantee or mortgage. Liquid funds continue to "quench the thirst" of small and micro e-commerce business owners.

In 2010 and 2011, Alibaba Finance established companies in Zhejiang and Chongqing respectively to provide order loans and credit loans to merchants on Alibaba's B2B business, Taobao, and Tmall platforms.

Order loan means that based on the physical transaction order amount that has been shipped by the seller's store but not confirmed by the buyer, the system gives a credit limit and automatically repays the loan when it expires. It is actually an order. The expected annualized interest rate on the order loan date is the cumulative annualized expected interest rate of approximately 18. The maximum amount of Taobao and Tmall order loans is 1 million yuan, and the period is 30 days.

Credit loans are unsecured. The credit limit is determined after a comprehensive evaluation of the applicant's credit status, credit risk, credit demand and other factors. The credit limit ranges from 50,000 yuan to 1 million yuan. The expected annualized interest rate on the date of the credit loan is approximately 21 per year. The maximum credit loan amount is 1 million yuan, and the loan period is 6 months.

Alibaba credit loans are divided into two types: "revolving loan" and "fixed loan". "Revolving loan" means that the loan amount is used as a reserve fund, which can be borrowed and repaid at any time, interest-free and cannot be withdrawn. Fixed loan refers to a one-time disbursement of the loan amount after the loan is obtained.

On the whole, Alibaba Finance’s small loan business is dominated by loans from Taobao and Tmall platforms.

As of the end of June 2012, Alibaba’s business had provided loans of 13 billion yuan in the first half of that year, and a total of 28 billion yuan has been provided since the self-operated small loan business in 2010, supporting more than 130,000 small and micro enterprises and individual entrepreneurs. Provide financing services.

Compared with the small loan business of state-owned banks, the amount of 13 billion yuan is not large, but it is composed of 1.7 million loans. During a period of time, the average daily completed loans was close to 10,000 performance.

“For most banks and small loan companies, the cost of information review, business management and risk control for small and micro enterprises is similar to that of large enterprises, but the expected annualized expected income is too small, which results in the disadvantages of small and micro enterprises. The problem of corporate loans is difficult."

Paipaidai CEO Zhang Jun told 21st Century Network.

The biggest development limitation of Alibaba Small Loan Company is capital. Lu Zhenwang, a senior Internet commentator, told 21st Century Network that there are two sources of loan funds, one is the registered capital of shareholders, and the other is bank loans. The part not exceeding 50% of the registered capital can be used for lending. The registered capital of the two Alibaba small loan companies in Zhejiang and Chongqing is 1.6 billion yuan, which means that the maximum lending funds are 2.4 billion yuan.

Alibaba Finance’s secret trick: data platform

In just five years since entering the financial industry, Alibaba Finance already has a database and liquidity that cannot be matched by bank credit reporting systems.

Taking Taobao order loans as an example, Wang Le (pseudonym), a seller who opened a Taobao women's shoe store in Shanghai, told 21st Century Network that because it takes one to two weeks for funds to be transferred to the account on Alipay, she often goes through For order loan turnover, the amount of each transaction is basically kept at 8,000 to 10,000. The loan can be completed in a few seconds after application, which is very convenient.

“Alibaba uses big data and information flow to achieve financial credit approval, which greatly improves loan efficiency compared with banks.” Analysys International analyst Zhang Meng said.

The database is the core asset of Alibaba Finance.

Alibaba Finance conducts quantitative analysis on sellers through a series of platforms such as Alibaba, Taobao, Tmall, and Alipay. The preliminary collection includes platform certification and registration information, historical transaction records, customer interaction behaviors, and customs import and export. information, plus sales data, bank statements, utility payments and even marriage certificates provided by the seller. At the same time, Alibaba Finance has also introduced a psychological testing system to determine the personality characteristics of business owners. It mainly uses models to evaluate the extent to which small business owners conceal and lie about hypothetical scenarios. After all the information is summarized, the values ??are input into the network behavior scoring model to perform credit rating.

Due to the large amount of Alibaba’s B2B business loans, Alibaba Finance entrusted a third-party agency to conduct offline on-site inspections.

After the loan is issued, its cash flow can be monitored through Alipay and other channels. If there is any use of funds that is inconsistent with the purpose of the loan, it will be immediately calculated. The average loan issued by Ali Small Loan is 7,600 yuan each. Since Big data plus platform testing shows that the loan cycle does not exceed half a year, the amount is within one million, and the non-performing rate of Alibaba small loans is controlled within 1.

Alibaba’s risk control model was born in 2002 through Chengxintong.

At that time, Alibaba was in its early stages of entrepreneurship. After Integrity Pass, companies were required to establish credit files on Alibaba. Buyers could browse them during transactions. After that, Alibaba established a set of scores based on the "Integrity Pass File". The system, the "Integrity Index", consists of AV certification, certificates and honors, member evaluations, experience values, etc.

From 2007 to 2010, Alibaba cooperated with China Construction Bank and ICBC to provide online joint guarantee loans to member companies without mortgage. Three or more companies formed a consortium with the same direction. Banks apply for loans, and at the same time companies realize risk sharing. Alibaba will submit the credit record of the member who submitted the application to the bank, and the bank will ultimately decide whether to grant the loan.

During this period, Alibaba established a credit evaluation system and credit database, as well as a control mechanism to deal with loan risks, used the platform to conduct risk control on customers, and published bad credit records.

Due to the huge differences in credit concepts between the two parties, the cooperation came to an abrupt end in 2010. In June of the same year, Alibaba adjusted its direction and jointly promoted Zhejiang Alibaba Company with shareholders such as Fosun, Wanxiang, and Intime, and obtained the first company business license in the e-commerce field in China.

The core of Alibaba Finance’s batch lending is whether the transaction data can support the financial model and whether the financial model can definitely reduce the default rate to a certain probability. This not only requires long-term precipitation, but also requires a relatively stable market environment and continued prevention of systemic risks.

Conditions for applying for Alibaba Small Loan

1) Alibaba Integrity Pass member or Chinese supplier member who has been registered for 6 months or more (if you change from an ordinary member to a paid member, Counting from the time of registration as an ordinary member);

2) The industrial and commercial registration location of the member enterprise is Hangzhou (the registration location of Personal Integrity Pass is Hangzhou);

3) The age of the applicant Be a Chinese citizen (excluding Hong Kong, Macao and Taiwan) between 18 and 65 years old, and be the legal representative of the enterprise (the individual version of Chengxintong is the actual operator);

4) Have a personal Alipay account that has been authenticated by real name.

Alibaba Small Loan Application Materials

1. Bank statements of corporate funds (can be downloaded from your online bank);

2. The legal representative of the company has passed the real-name verification Certified personal Alipay account;

3. Bank debit card of the legal representative of the enterprise (must be a debit card from the following 10 banks: China Merchants Bank, Industrial and Commercial Bank of China, China Construction Bank, Agricultural Bank of China , Bank of Communications, Guangdong Development Bank, China Minsheng Bank, Industrial Bank, Shanghai Pudong Development Bank, Shenzhen Development Bank);

4. Credit report authorization inquiry letter.

Alibaba Small Loan Application Process

1. Application Instructions: Download the application form from the Alibaba website and fill it in and submit it.

2. Submit the above information.

3. Video verification.

4. Approval passed.

5. Loans and repayments.

How does Ali Credit conduct information assessment

Since then, Ali Credit has been unanimously praised by the industry. Many Taobao sellers who have encountered countless obstacles in banks have been able to apply for loans through Alibaba Small Loans in a very short period of time. This has a lot to do with Alibaba’s credit assessment system. So. How does Ali Microcredit assess personal credit?

Alibaba Credit’s credit assessment has little to do with the entire bank credit system. Because any seller who needs to apply for Ali's small loan must be a member of Ali's company and have been a member of Ali for more than 2 years. During these two years, all the updates of the member will be available in the information database of Ali's credit company. Financial credit reporting, credit granting and real-name system are all automated.

Therefore, Alibaba Credit’s personal information assessment is mainly based on the member’s seller member’s commodity transaction volume, authenticity, store activity, user satisfaction, inventory, and cash flow in the past two years. Even the credit of the merchant's store such as water and electricity payment is used as data to evaluate the seller's record in the Alibaba system.

Who is suitable to apply for Alibaba Small Loan

Alibaba Credit has continued to attract market attention since last year. But not all people are suitable for applying for Alibaba small loans. So, which groups of people are most suitable to apply for Alibaba Finance?

First of all, if you want to apply for Alibaba small loans, you need to meet the conditions stipulated by Alibaba:

1. Have been an Alibaba integrity correspondent or a Chinese supplier member, and have certain operations Record.

2. If the applicant is the legal representative of the enterprise or the person in charge of an individual industrial and commercial household, the applicant should be between 18 and 65 years old and a resident of mainland China;

3. Industrial and commercial registration requires three places in Jiangsu, Zhejiang and Shanghai, and registration must be completed for 2 years. It will gradually be opened to other regions in the future.

After meeting the application conditions of Ali Credit, the following groups of people are mainly suitable to apply for Ali Credit:

1. Small businesses and small businesses that have working capital needs in the process of production and operation. Individual industrial and commercial households;

2. The applicant’s total sales in the past year are not less than 1.5 million yuan with good profits and good growth potential;

3. The applicant is in Alibaba Applicants with no bad records in the group and external financial institutions are suitable to apply for Ali Credit.

How do Taobao sellers apply for Alibaba small loans

As we all know, in order to help small and medium-sized sellers achieve rapid financing, Alibaba has now opened a nationwide Taobao order loan business , and this news can be seen on all major Taobao store opening tutorial websites. As long as you have enough payment in your Taobao store, you can borrow more operating funds for your own store.

So for Taobao sellers who are new to Taobao loans, where should they apply for our Taobao loans?

First of all, let us have some understanding of Taobao loans through some introduction. After the success of Alibaba's Alipay and Yu'e Bao, Taobao Loan is launched again. The launch of this financial project will completely break the traditional financial trade of banks and help small and medium-sized enterprises realize their own small financing faster and more conveniently.

Since it is a loan business run by Taobao, its loan targets must be Taobao sellers, and the only criterion for determining whether a lender is a Taobao seller is whether the person has an independent Taobao store. .

Because Taobao now offers a lot of external loan businesses, including loans for market stores, loans for Tmall stores and loans for Taobao orders. The operation methods of these loans are almost the same, except that in terms of loan There are different requirements on objects and standards.

Here, we will mainly talk about Taobao order loans. The reason why we only talk about this method of loan plan is that this loan method is the most suitable for the majority of Taobao sellers. Easy.

Loan standards: The store's credit score reaches a certain level, and within one month before the loan date, the number of orders operated by the store every day must be maintained at more than 30, and these orders must be If the transaction is genuine and false, the issuance of the loan amount will be frozen.

Sellers who meet the above criteria can independently apply for loan business for their own stores.

The following is an introduction to how to operate the loan business independently:

First, go to the homepage of Taobao Seller Center. Then find the "Taobao Loan" function on the function menu on the left and click to enter.

Next we can see the homepage of Taobao Loan. On this homepage, there will be detailed operation methods and loan standards. After understanding the relevant text, we can follow what is said on this page. method to make a preliminary application for our store loan.

How to calculate Ali’s small loan interest

Alibaba Credit Loan has become very popular since the opening of loan services. It is an effective platform that truly solves the financing and loan difficulties of small and medium-sized enterprises. However, the most important thing about any loan model is whether the calculation of loan interest is reasonable. So, how is the interest on Ali credit loan calculated?

Alibaba Credit Loan Fixed Loan:

The borrower will lend the full amount of the loan after signing the contract. The principal will be repaid on the expiration date of the monthly interest payment contract or the principal and interest will be repaid in equal amounts, and the loan will be repaid in advance. An early repayment fee is charged for principal part 3, with a term of 12 months. The repaid amount will be transferred to the revolving loan. The loan of RMB 100,000 is due to be settled in one year, and the actual interest received is about RMB 10,016 (annual expected annualized interest rate is 18), which is equivalent to: the daily expected annualized interest rate is about 5/10,000. Fixed loan, with lower price and fixed monthly repayment, is similar to a bank mortgage; it is conducive to capital arrangement and management. Suitable for the capital needs of the company's normal operations; Ali Credit Loan Revolving Loan:

The borrower can withdraw money at any time after signing the contract to 3 days before the expiration of the contract, and the monthly interest payment contract expires Repay the principal on a daily basis or in equal installments with principal and interest, and you can repay in advance at any time (no handling fee). The returned principal can be recycled, equivalent to: daily expected annualized interest rate of about 6/10,000. The price of revolving loans is slightly higher. You can borrow and repay at any time, and the limit can be used on a recurring basis, similar to a credit card; the withdrawal time and usage period of funds can be arranged as needed. It is suitable for the capital needs of enterprises for temporary turnover.

The lines of fixed loans and revolving loans can be allocated as needed within the comprehensive credit limit.

For example: a comprehensive credit of 200,000 yuan, the customer chooses a fixed loan and revolving loan ratio of 5:5. Ali Credit Loan Interest Calculation: The fixed loan part is 200,000 yuan on January 1, 2012. After signing the contract on that day, the fixed loan is 10,000 yuan. 10,000 yuan was immediately distributed to the customer's account in 12 installments. The principal and interest of each installment were approximately 9,168 yuan and would be settled on December 31, 2012. The accumulated interest expenses were RMB 10,000. For early repayment, an early repayment fee will be charged for the early return of principal part 3; the returned principal can be used again.

Alibaba Credit Loan Interest Calculation Revolving Loan Part

The revolving loan of 100,000 can be withdrawn at any time from January 1, 2012 to December 28, 2012. During this time Early repayment is possible; all withdrawals must be settled on December 31, 2012.

100,000 yuan was withdrawn on February 3, 2012, and the principal of 100,000 yuan was fully repaid on February 13, 2012, with an interest of 600 yuan; another 150,000 yuan was withdrawn on October 2, 2012 (fixed loan repayment The principal can be withdrawn again), the principal of 100,000 yuan was returned on October 12, 2012, and the interest payment was 600 yuan. The remaining principal of 50,000 yuan was repaid on October 22, 2012, and the interest payment was 300 yuan; on November 8, 2012 Withdraw 100,000 yuan again on November 18, 2012, and repay the principal of 100,000 yuan in full on November 18, 2012, with an interest of 600 yuan.

Within a 12-month period, for a credit of RMB 200,000, the actual interest paid by the customer is only RMB.

Is it easy to apply for Alibaba Finance’s “Online Business Loan”?

Alibaba Finance’s “Online Business Loan” is an operating loan targeted at member companies of Alibaba International Station. Maximum 1 million yuan; 6 months, 12 months; lowest expected annualized interest rate, average equal repayment of principal and interest.

So, is it easy to apply for "online merchant loan" from Alibaba Finance? The following is an analysis of application requirements, materials, procedures, etc.

Application threshold

Alibaba Finance's "Online Business Loan" is an operating loan for member companies of Alibaba International Station. Its application threshold is low. First, there are business registration requirements. Registration The location must be in mainland China, and the registration period must be at least one year. However, there are restrictions on the place of registration, and registered enterprises in Qinghai Province, Gansu Province, Hainan Province, Inner Mongolia Autonomous Region, Ningxia Autonomous Region, Xinjiang Autonomous Region, Xinjiang Autonomous Region and other regions will not be approved.

In addition, there is a special condition that the registered company must be a member of Alibaba International Station, including Exit Pass, Global Insurance, and Jinpin Chengqi. The last is the requirement for the applicant himself. The applicant must be the legal representative of the enterprise or the person in charge of the individual industrial and commercial household, be between 18 and 65 years old, and be a resident of mainland China.

Application Process

The application process for Alibaba Finance’s “Online Business Loan” is simple and generally requires only three steps.

First, the loan applicant contacts the account manager of Alibaba International Station and explains his loan needs, including loan amount, loan time, etc. Subsequently, data collection is carried out. The information that needs to be collected includes: credit authorization inquiry letter, photos of the front and back of the ID card, photos of the marriage certificate (if married), bank statements of the past six months, and electricity bills of the past three months (limited to production enterprises), other supplementary information, etc.

In summary, in addition to basic identity, credit, and income information, the more detailed the other information, the better it will be for obtaining a loan. The information is complete, and the contract will be signed and credited after being approved by Alibaba Finance. Generally speaking, you can get a loan in about 3 working days after all the information is received. The loan time is relatively fast.

To sum up, the application threshold for Alibaba Finance’s “Online Business Loan” is low, the application process is fast, the application materials are simple, and the loan time is fast. Therefore, it is relatively easy to apply for Alibaba Finance’s “Online Business Loan”.

How many of these Alibaba application conditions do you meet?

Ali is a pure credit loan product provided by Alibaba Finance for Alibaba members. So what are the Alibaba application conditions? Here are the answers for everyone who needs them, let’s see how many of them satisfy you.

Alibaba application conditions

1. Alibaba Integrity Pass member or Chinese supplier member who has been registered for more than 6 months (if you change from an ordinary member to a paid member, you must become a paid member from registration) (from the time of ordinary membership);

2. The industrial and commercial registration location of the member enterprise is Hangzhou (the registration location of Personal Integrity Pass is Hangzhou);

3. The applicant must be aged 18- 65-year-old Chinese citizen (excluding Hong Kong, Macao and Taiwan), and the legal representative of the enterprise (the individual version of Chengxintong is the actual operator);

4. Have a personal Alipay account that has been authenticated by real-name.

If you meet the above Alibaba application conditions, you can start preparing application materials.

Alibaba application materials

1. Bank statements of corporate funds (can be downloaded from your online bank).

2. Personal Alipay account of the legal representative of the enterprise that has been authenticated by real name.

3. Bank debit card of the legal representative of the enterprise (must be a debit card of the following 10 banks: China Merchants Bank, Industrial and Commercial Bank of China, China Construction Bank, Agricultural Bank of China, Bank of Communications, Guangdong Development Bank Bank, Minsheng Bank, Industrial Bank, Shanghai Pudong Development Bank, Shenzhen Development Bank).

4. Credit report authorization inquiry letter.

Alibaba application process

Download the application form on the Alibaba website and fill it in and submit it, submit the above information, video verification, approval, loan repayment.

Apply after meeting Ali’s application requirements. Generally, the review can be completed within 10 working days. This depends on your cooperation, because it involves the approval process, and you need to provide corresponding information. If the information is provided in time, the speed will be faster; if not in time, the speed will naturally slow down accordingly.

If you are using a quick loan, you only need to take photos, upload relevant information and send it. No on-site investigation is required. Once the information is complete, the loan will be issued in the fastest 3 hours.

Editor’s note: After meeting Ali’s application conditions, you can start the approval process.

Is Alibaba reliable? How to apply?

Is Alibaba small loans reliable?

Ali is reliable. It is a credit loan product launched by Alibaba Finance. It is mainly aimed at loans for Alibaba members. There is no need to provide third-party guarantees or mortgages for borrowing. You can obtain loans with your own credit. The main service targets are self-employed industrial and commercial individuals, small owners, small workshops, etc. The loan amount is between 1,000 and 1,000. Ranging from 10 million.

Alibaba application conditions:

1. You need to be an Alibaba Integrity Pass member or a Chinese supplier member. The membership registration time needs to be more than 6 months. If you change from an ordinary member to For paid membership, the time needs to be calculated from the time of registration as an ordinary member.

2. The registered address of the member company must be in the Hangzhou area, which means that member companies registered in other places cannot apply for Alibaba.

3. Loan applicants must be aged 18-65, be Chinese citizens, and must be the legal representative of a member company.

4. Have an Alipay account and have a real name, and have a good Alipay usage record.

How to apply for Alibaba

1. Open the Alibaba website, download the application form on the website, fill it out and upload it to the platform;

2. Submit the loan requirements information.

(1) Bank statements of loan companies.

(2) The Alipay account of the legal representative of the loan company must be real-name and have good usage records.

(3). The bank card account number of the legal representative of the loan company must have one of the following 10 bank debit cards, China Merchants Bank, Shenzhen Development Bank, Shanghai Pudong Development Bank, Industrial Bank, Minsheng Bank, Guangdong Development Bank, Bank of Communications, Agricultural Bank of China, China Construction Bank and Industrial and Commercial Bank of China.

Open the software and follow the page prompts to upload and fill in the loan information. Later, the platform customer service will conduct a phone review. On the loan homepage, you can choose loan installments of 3, 6, 9, and 12 installments, and repay the loan in installments. The longer the loan period, the more interest, and the smaller the monthly repayment pressure. After confirmation, wait for the platform’s review call.

3. Conduct video verification to see if the loan is for you.

4. The loan was approved and the amount was approved.

5. When the loan is issued, the borrower shall repay the loan in full and on schedule in accordance with the requirements of the platform on a monthly basis.