Shenzhen plans to build a "Mutual Fund for Small and Micro Enterprises in the LED Industry"

LED listed companies have excessive financing, but small and micro enterprises have difficulty in lending. The reporter learned from the Shenzhen LED Industry Association yesterday that Shenzhen is planning to build a "LED industry mutual assistance fund for small and micro enterprises". Small and micro enterprises can obtain 5 times the loans of their deposit funds without collateral. The maximum loan amount is 5 million yuan.

LED small and micro enterprises loan is difficult

Shenzhen Vision Optoelectronics Co., Ltd. recently went bankrupt due to a broken capital chain. Vision Financial's original financial manager admitted that the company's failure was largely due to the difficulty of loans to SMEs. As a company with assets of more than 100 million yuan, Vision has once been selected as one of the top five in the industry for two consecutive years. However, due to the difficulty of loans, it has been forced to go nowhere. The current status of loans for SMEs in the LED industry can be imagined.

Judging from the data currently available, there are not many small and micro enterprises in the industry that have collapsed. Zhang Xiaofei, director of the Shenzhen Institute of High-Tech LED Industry Research Institute, said in an interview with a Shenzhen Business Daily reporter that there are also several companies that have arrears like Vision Light Family.

It is understood that at present LED small and micro enterprises mainly obtain working capital through UNPROFOR, guarantee companies or small loan companies, but these loan methods or barriers to entry are too high, or the guarantee qualification is too strict, or the interest and risk are too high, often Small and micro enterprises are discouraged but have to take risks. During the interview, a number of LED small and micro business owners complained to reporters that the price war in recent years has caused corporate profits to decline rapidly. First, regardless of the core technology, a penny can beat the hero, and the difficulty of capital turnover has become a small and micro enterprise in the industry. The key to life.

On the other side of the difficulty of LED small and micro enterprise loans, the LED industry has become one of the most favored industries for venture capital and private equity investment, and there is even a phenomenon of excessive financing. According to statistics from relevant departments, 10 domestic LED companies have raised more than 6 billion yuan, of which 3 billion yuan has been raised.

Establish a "mutual assistance and cooperation fund" model

How to crack the loan problem of LED small and micro enterprises has long been an urgent issue in the industry. The good news is that the Shenzhen LED Industry Federation will soon establish a "LED Industry Small and Micro Enterprises Mutual Assistance Foundation" with the China Minsheng Bank Shenzhen Branch through the "mutual assistance cooperation fund" model.

What is the "mutual assistance and cooperation fund" model? Cao Yong, director of the Financial Services Department of the Shenzhen LED Industry Association, said that LED companies with access conditions can deposit a certain amount of funds in the fund pool, and then they can apply to Minsheng Bank through the fund manager, the Shenzhen LED Industry Association. Corresponding loan.

Mutual assistance funds will consist of mutual assistance deposits and risk reserves. Among them, mutual assistance deposits are 20% of the credit amount (can be conditionally withdrawn or transferred), and risk reserves are 0.5% to 1.0% of the amount of each loan (the fund does not Refund, but the fund can be withdrawn after dissolution). The fund manager does not assume the guarantee responsibility, and will establish a fund management committee and elect 3 to 5 member companies as members.

The relevant person in charge of the LED Industry Association expressed that he hopes to use this new borrowing method to break through the bottleneck of small and micro enterprises lacking collateral and effective guarantees, improve the status of financing difficulties of SMEs in the LED industry, and match SMEs in business transactions, Provide diversified service support in legal support, asset evaluation and reorganization, etc.

5 times loan for deposit fund

What benefits will the establishment of the foundation bring to LED small and micro enterprises? The LED Industry Federation said that the initial number of members of the Mutual Aid Foundation will be no less than 50, and the initial funds raised will be no less than 10 million yuan. After the enterprise deposits the fund, the foundation provides guarantee, and the enterprise can obtain a loan from Minsheng Bank that is 5 times the deposit fund. "For example, if a company deposits 200,000 yuan, it can get a loan of 1 million yuan. For small and micro enterprises, the space for capital turnover is greatly increased."

The loan amount range set by Minsheng Bank is 500,000 to 5 million yuan, without the need to mortgage real estate or guarantee by the company; the annual interest rate of the loan is only about 8.5%, and the annual comprehensive cost is within 10%, which is much lower than other credit financing channels; After the liquidation of the period, the funds and risk funds paid can be recovered in proportion to the capital contribution.

The foundation has restrictions on the entry threshold for enterprises. The conditions include: more than 3 years of experience as a business owner, more than 2 years of establishment of a self-operated enterprise in Shenzhen, and a member of the Shenzhen LED Industry Federation; the annual turnover of the enterprise is not low With a non-foreign investment background of 5 million yuan, the main business has strong market competitiveness; the company's reputation and credit status are good, the loan is used for the main business, the enterprise owner has no bad credit records and bad habits, and the family relationship is harmonious and stable; The net assets of the business owner's family is not less than 500,000 yuan, and the deep households may have a fixed residence in Shenzhen; they have voluntarily joined the Shenzhen LED Industry Association Small and Micro Enterprises Mutual Assistance Fund and abide by the fund's charter.

Compared with existing loan methods such as microfinance companies, mutual funds have relatively low barriers to entry, are less risky, and are limited liability guarantees. Cao Yong said, "Some loans take half a year to get money, but through the operation of the fund, we plan to allow small and micro enterprises to get loans in two months."

Symposium on mutual funds will be held

It is understood that the LED Industry Federation will hold the "LED Industry Micro-Enterprise Mutual Fund" symposium on July 19. At present, about 30 small and micro enterprises have signed up for the symposium.

Minsheng Bank stated that members of the Mutual Fund must provide three major materials, including proof of identity: valid ID card of the borrower and spouse (if any), residence certificate, and marriage certificate. Credit materials: the borrower or spouse's bank accounts and asset certificates in the past six months. Company information: enterprise business license, organization code certificate, tax registration certificate, capital verification report, articles of association, loan card; company profile, business resume of the actual controller / main management personnel; lease contract / property certificate of the business site, nearly 3 months Water and electricity bills and payroll collection bills; corporate financial statements for 2010, 2011 and the past month; tax certificates for 2010 and 2011 and tax returns for the past month; company account statements (can be reflected in the last 6 months) For the operation of the enterprise), multiple bank accounts can be provided; a list of the top 5 customers and top 5 suppliers of the enterprise (company name, cooperation period, cooperation content / method, cooperation amount, proportion, settlement method / accounting period), And provide recent contracts, agreements, purchase orders or value-added tax invoices and other supporting evidence; the company's main fixed assets and machinery and equipment list (higher unit price and complete procedures for equipment can provide invoices).

The LED Industry Federation said that after the debt is paid off, the mutual assistance cooperation fund will be actively liquidated according to the relevant rules. When the total number of fund members is less than 75% of the initial set number, or the mutual assistance deposit of small and micro enterprises is less than 5% of the total credit, and other force majeure, policy regulation and other circumstances occur, the fund will be passively liquidated.

Guide the transformation and upgrading of small and micro enterprises

At present, there are more than 1,800 LED enterprises of various types in Shenzhen, including more than 1,000 small and micro enterprises. It is understood that the products of these enterprises are mostly concentrated in the low-end, and there are many repeated investments.

A business owner of Longgang, which has been engaged in LED production for 3 years, told reporters on the phone that technology research and development cannot be effectively improved in a short time, and the capital turnover space is small. The price war has become the most helpless move in this industry in recent years. The products manufactured underneath will indeed cause consumers to worry about quality issues.

After the establishment of mutual funds, once a company uses the loan again for repeated investment and production of low-end products, will it lead the industry astray? Cao Yong said that the foundation's access conditions will in fact play a role in selection, so that small and micro enterprises with vitality, good reputation and technological advantages can obtain loans and development opportunities, which will ultimately benefit the healthy development of the Shenzhen LED industry and enhance LED industry transformation and upgrading capabilities.

It is worth noting that mutual aid funds do not clearly stipulate the use of loans obtained by enterprises. Some experts suggest that through the system design more clearly guide the transformation and upgrading of small and micro enterprises, to avoid repeated development of low-end products, may be more beneficial to the future development of the LED industry.

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