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How to realize the financing triple jump of steel trading enterprises
"How to make good use of the bank's money" is the most professional skill that steel traders should master. A steel trading company with annual sales of tens of millions and hundreds of millions can only be considered small in this capital-intensive industry. A steel trade company that only "buy and sell" will need more than 100,000 yuan of capital turnover on a daily basis, while large steel trade companies will need tens of millions of daily turnover funds. So where does the money from steel trade companies come from? It is unlikely that steel traders will rely on profits to accumulate their own funds to make up for the corporate gap. According to the total profit and sales revenue of 2011, China Iron and Steel Association estimates that the sales profit rate of key national large and medium-sized steel enterprises in 2011 was only 2.4%, which was lower than the 2.91% in 2010. The accumulation of self-owned funds and profits cannot support the daily operation of enterprises, so steel traders need a large amount of credit funds from banks. A steel trader who does not want to be named tells New Finance that in this industry, high-level “players†are required for huge amounts of money. Steel trade itself is a small profit. Many people use steel trade companies as financing platforms to invest in bank loans. "In this circle, each level has its own way of playing. It is not as difficult as you think of the steel traders who are tens of millions and hundreds of millions of waters to flow." The steel trader said. ◠Elementary: Pledge "A lot of steel traders have just entered the bank and don't have much money. They come up with tens of thousands of dollars to register a company with one or two million capital injections, and then look for big companies to borrow some steel to sell." A steel trade company Futures trader Wu Jun (pseudonym) said. For example, a small company A needs 2000 tons of goods, finds a large company, pays a deposit of about 20% of the value of the big company's goods, and then A pushes the goods to the market, and all profits and losses are borne by A. After the sale, the large company will settle the A in accordance with the settlement price of the steel mill by 20-50 yuan per ton, and then charge interest and settlement fees to A. In this process, A has no ownership of the goods, only the right to sell. After the buyer has to pay the full amount, A will pay the goods to the big company and then deliver the goods to the buyer. According to reports, under normal circumstances, steel lenders are large-scale state-owned enterprise trading companies, they are easy to borrow from banks, and then lend money to small and medium-sized companies in a disguised way to seek stable income. "If you give the big company 20% of the money, he will give you 100% of the goods, which is no different from the capital transaction." Wu Jun said. After doing a lot of small-volume sales, the bank has a transaction record. In the steel trade circle, brushing water at the bank is a very important job. After that, the small company negotiated with his downstream and issued a fake contract to go to the bank loan. Continuing with the previous example: Small company A has now made several small-volume sales in a row. He sold the steel borrowed from the big company to B, which is also a small company. After many trades, A and B. Negotiate the purchase and sale contract to go to the bank loan. According to industry insiders, some steel traders started their own VAT invoices, and generally used their family or friends' names to open two or three companies to make false trades to obtain bank loans. When small companies no longer depend on big companies, getting loans from banks is a step up. However, even with the purchase and sale contract, the qualifications of many small companies still do not meet the bank's loan requirements, so the small steel traders have to find a guarantee company to guarantee. Generally, the guarantee company has a deposit in the bank, and the bad debts are carried by the guarantee company, so the bank is relatively reassured. ◠Intermediate: Joint Insurance When a small steel trade enterprise develops gradually, the mutual insurance and mutual insurance between the familiar enterprises becomes the normal guarantee method. Unlike primary steel traders, these medium-sized steel trade companies extend their business to the upstream and downstream of steel trade, including related industries, parts and logistics. It is understood that many steel trade companies have their own guarantee companies, and the guarantee targets are mainly upstream and downstream enterprises in the industrial chain or other steel trade companies in the industry. The most common practice is to combine several companies that are familiar with each other to form a “credit community†that provides joint guarantees for each other. If one of the “communities†has a financial crisis that cannot be repaid on time, then other members of the group will be reimbursed on their behalf. “Under normal circumstances, steel traders are very cautious about their choice of partners. Reputation and economic strength are the primary conditions, and the economies of members in the community are similar in scale.†Wu Jun said. In actual bank loans, the “community†often needs a guarantee. The guarantee can be provided by a professional third-party guarantee company or an independent enterprise. Wu Jun believes that the mutual insurance model is actually worth learning. If there is a problem with the family, in order not to affect the bank's renewal of the loan, it will generally compensate. The mutual insurance model has been in existence for a long time, but it is actually applied in a large area of ​​the steel trade circle. It was started around 2003 after the establishment of the steel trade market in Shanghai by Fujian steel traders. In fact, the "community" can do more than that. “Several companies have joined together to register a company with a large capital, and then find a guarantee company to go to the bank loan in the name of this new company. Due to the large size of the company, the loan amount is correspondingly higher. Several companies are divided according to the previous agreement," an industry source said. As for the use of bank loans, the person said that it is very simple: "Banks generally send loans to the applicants (steel traders) upstream, only to find a company to sign a purchase contract." After the money is loaned, steel trade Some of the merchants used it for the company's own turnover, and most of them began to evolve to a higher level. ◠Advanced: Investment The steel trade industry crisis is happening here. Old steel traders use steel trading companies as financing platforms to finance from banks, invest in real estate, buy stocks, open financial companies or private lenders. When these steel traders who have emerged in the investment field get financial and real estate equity, Then back-to-back mortgage to the bank, while securing the income, it also guaranteed the flow of funds of its own steel trade enterprises. "Since last year, many small steel trade companies have closed down. There is no profit in the steel industry, so mixed operation has become the normal business of steel trade companies." Chen Kai, a steel analyst at the business community, was interviewed by the new financial Say. Check out the websites of several large steel trade companies and find that they have shares or investment in minerals, real estate, futures securities, and financial companies. In the interview, I learned that due to the uncertainty of the real estate market in the near future, many steel traders have withdrawn from real estate investment and turned to form small loan companies and guarantee companies. "Now doing business is not as fast as "money making money"." The aforementioned staff said that their company has set up a small loan company, which is said to be quite good. Chen Kai said: Many steel trade companies on the tip of the pyramid are just a financing platform, investing the money they get in other fields, and some investment risks are very high. However, after all, financing requires cost. Sometimes, when the repayment period, the steel traders' money is invested in the project. If there is no money to pay back the bill, it is necessary to continue to finance the hole in the hole. In this way, they will continue to enlarge the capital leverage. The dismantling of the East Wall complements the Western Wall and makes the debt roll like a snowball. When the plate is made large enough, once a problem occurs in one link, the entire capital chain will collapse.