Recently it was reported that IB’s new generation of enterprise online banking “Financing Fast Track” self-service “circulating loan” system has been upgraded and launched successfully. The system gives more independence to small and micro businesses on payment of loan, solves the problem of regional limit of loan, achieves combinations of “circulating loan” and other characteristic products for small and micro businesses, and provides more personalized service plans for clients.
It is introduced that “circulating loan” for small and micro businesses is a kind of online financing product designed for small and micro businesses by IB based on Internet technology. Clients can get approved loan amount through online application and realize independent withdrawals, taking out/repaying a loan at any time and circular use as necessary, without offering written loan application and loan contract for each loan. The interest is charged according to the actual date of loan and complex procedures are eliminated, meeting “short-time, frequent and urgent” financing needs of small and micro businesses.
This upgrade provides more convenience and better client experience. In terms of repaying a loan, an enterprise can safeguard transaction object independently in the system as necessary; in terms of taking out an inter-city loan, an enterprise can succeed in getting a loan by opening account function of universal deposit and withdrawal, breaking regional limit; in terms of use of financing products, “circulating loan” can be combined with characteristic products for small and micro businesses, such as “Easy & Quick Loan”, “Trading Loan” and “start-up loan”, satisfying needs of differentiated financing.
A company specializing in environmental-friendly materials is one of the beneficiaries of IB’s “circulating loan”. Because of operation characteristics of the industry, the company needed more frequent and short-term turnover of fund. In the past, bank loans had to be applied in need of fund, and the company spent a lot of time on pre-loan application procedures. And repaying a loan also entailed certain procedures, virtually increasing cost and time of financing. The company applied for IB’s “circulating loan” and got credit amount of RMB 8 million. While providing convenient service of “circulating loan”, IB charges interest according to how many days a client uses the loan without other costs, considerably reducing financing cost of enterprises.
In recent years, IB reduces financing cost of enterprises through Internet, create online financing mode of “Internet plus bank plus platform” for small and micro businesses. In addition to “circulating loan”, it also launched online financing products including online financing “E series” for small and micro businesses. While lowering financing threshold and reducing financing cost of small and micro businesses, these products help strengthen small and micro businesses’ ability of financial services. By the end of November, IB’s credit amount for online financing clients of small and micro businesses has reached nearly RMB 0.9 billion.