I'm in the county town, and you say I'm a big shot?

Chapter 126: Private Lending Enterprises

"You're doing a good job. Does Section Chief Zhang often praise you?" Fang Qingye felt a little puzzled: "Why does she criticize you?"

"They said I didn't conduct a strict audit and nearly let an unqualified company slip through," Chen Meimei replied. "I had no idea this company was involved in private lending."

"Oh, talk about it."

Chen Meimei started talking.

It turned out that there was a company called Jinxiu Textile in the neighboring county. It applied for a loan of 800 million yuan from the bank. After completing all the loan application procedures, Chen Meimei even made a special trip to the company for an on-site inspection. Everything was normal and met the loan requirements.

According to the process, Section Chief Zhang Qunying will conduct the final review. If there are no problems, it will be submitted to the bank's approval team for review to decide whether to grant the loan.

"Section Chief Zhang didn't find any problems with the documents and originally submitted them to the approval team this morning. But yesterday afternoon, when she was returning home, she stumbled upon a small advertisement for private fundraising on the wall. It featured several companies and even listed the return on investment."

"Is there a name called Jinxiu Textile?" Fang Qingye asked with a smile.

"Yes, Section Chief Zhang immediately tore down the flyer. This morning, when he saw me, he gave me a serious scolding, saying that a company that dared to raise funds privately from the public was actually offering a 20% return rate! The gross profit margin in the textile industry is only around 10%. How could they offer a 20% return rate?! And how dare they lend money to such a company?!"

Oh, I see.

Fang Qingye knew very well that the average gross profit was less than 10%, so how could they afford a capital cost of up to 20%? The money raised was obviously invested in other areas.

The stock market has been halved, so the only thing left is the bond or housing market. Private equity is rampant right now, and many ordinary people are pouring their life savings into a company based on a scrap of paper, not even understanding what it does. This is incredibly dangerous.

For banks, it is very taboo for companies applying for loans to be involved in private lending. No wonder Zhang Qunying was so angry.

"Okay, it's no big deal if you're criticized. Except for the older ones, who among the younger ones in your credit department hasn't been criticized by Section Chief Zhang? Think about it more positively." Fang Qingye comforted.

"But I think this company is okay. It's not one of those companies that slack off. It's wholeheartedly focused on its core business. Furthermore, it's a contract manufacturer for several foreign brands, so it has great potential."

Hearing Chen Meimei say this, Fang Qingye suddenly became interested.

"How about you show me the materials from Jinxiu Textile when you're at work this afternoon?"

"Row!"

After work in the afternoon, Chen Meimei knocked on Fang Qingye's office door with a thick brown paper file bag in her hand.

"Put it here, let me take a look."

Chen Meimei left quickly, and Fang Qingye looked carefully.

Indeed, this company has cooperative relationships with three famous foreign brands and is considered a relatively large domestic OEM factory. Now is 2009, and international relations are relatively relaxed. In the eyes of bankers, such companies are high-quality companies and are given priority for lending.

What Fang Qingye couldn't understand was why he had to resort to private lending when a formal loan would suffice. Perhaps he was planning a large project and a formal loan wasn't enough?

If we want to get to the bottom of it, we need to conduct further investigations into the companies.

But Fang Qingye didn't want to go.

If the process reaches the credit approval team, you can talk about your thoughts and doubts during the meeting. If you need to go there in person, it may not be a bad idea.

But I haven't even gotten past the credit department, so it's not a good idea to overreach.

So, he handed the information back to Chen Meimei without hesitation. This matter had nothing to do with him.

Fang Qingye thought the matter was over, but two days later, when he was about to get off work, he suddenly received a phone call from an unfamiliar person.

"Which one?"

"President Fang? I'm Bian Wengan, the general manager of Jinxiu Textile Company."

Jinxiu Textile?

Fang Qingye thought of what Chen Meimei had said two days ago. "I'm Fang Qingye, Mr. Bian, what do you want to talk to me about?" Fang Qingye said as he packed his things.

"President Fang, I'm in Dongxin County right now. Could you please do me a favor and have dinner with me later?" Bian Wengan said on the phone.

Have a meal?

I already refuse some dinner parties with friends, let alone a dinner party with a stranger like you?

"I'm sorry, Mr. Bian, I have something to do tonight." Fang Qingye refused decisively.

"Oh," the other party seemed a little disappointed, and after a while he said, "President Fang, let me get straight to the point. It's about my company's loan."

"Boss Bian," Fang Qingye interrupted him, "regarding the company's loan, you should go to the Credit Department. According to our bank's regulations, the Credit Department will submit approved corporate documents to the Credit Team for approval. I believe you are familiar with this process."

"I know, but that girl named Chen Meimei from your credit department said that if we want our company's loan approval, we have to contact you."

"Have you looked for Chen Meimei?"

"Yes, I've talked to her several times, and she finally told me the truth. She personally thought we could get a loan, but she's just an ordinary cadre, and her words don't count. She said she'd come to you."

This Chen Meimei.
You actually pushed this matter onto me?

"I'm sorry, Mr. Bian. I'm sure you understand that I'm just an assistant to the president and can't interfere in the credit department's affairs. Sorry, I have something else to do. I'll hang up now."

After saying that, Fang Qingye hung up the phone without waiting for the other party to answer.

Can't help but shake his head.

Do you really think I'm a person with supernatural powers?

But then again, if it's a friend, you still have to help him/her, and if he/she really meets the loan conditions, you should find a way to get him/her approved.

But strangers
Forget it, let’s go home and eat the food my mom cooks.

In a small car on the street not far from the Oriental Bank Building, a man and a woman were chatting.

"Mr. Bian, did President Fang refuse?" The driver was a woman in her early thirties, and she was asking the man sitting in the passenger seat.

This man is Bian Wengan, the CEO of Jinxiu Textile, and he looks disappointed.

"Yes, I refused. I refused decisively."

"I've always been a little skeptical of what Chen Meimei said. Fang Qingye is just an assistant to the president. How can he have more power than that vice president, Su Ming?"

"I don't know either." Bian Wengan shook his head. "Chen Meimei said that on the phone, and you heard it. Have you ever met Chen Meimei? Do you think she would fool you?"

The woman's name is Shen Lan. She is the company's vice president and director of the finance department.

Shen Lan pondered for a moment before saying, "That Chen Meimei has only been out of school for a few years. She's very serious about her work and doesn't seem like an old hand. I don't think she'd lie to us about this."

"That's it. Besides, I don't know President Su." Bian Wengan leaned back in his chair and sighed.

There was silence for a while.

Bian Wengan added, "I think if we want to get this loan, we have to start with Fang Qingye. We have to find someone who knows him to act as a go-between."

"But who can we find? We are not from Nanxin County." Shen Lan also felt distressed.

"Let me think about it." Bian Wengan closed his eyes slightly, and suddenly opened them after a moment.

"Hey, Shen Lan, isn't your brother-in-law the director of the cardiology department at Nanxin Hospital? Can I go through him?"

(End of this chapter)