Rebirth in 1980, the rise of the golden age

For their credit union, lending is naturally a part of its business. However, in this era, most of the companies outside are state-owned, and a small number are collectively operated. They lack awareness of loans, and the lending conditions of credit unions are harsh, so very few people go to credit unions to apply for loans.

When they really need money, many people would rather pay high interest rates outside than go to a credit union to borrow money.

People like Li Youcai, who have collateral and can borrow such a large amount of money at one time, are not easy to deal with.

Pengfei said, "Comrade Li, getting a loan with us is different from getting a private loan like you would get outside. The loan term is directly linked to the interest rate, and the repayment method is also related to the interest rate. Do you need me to explain this to you?"

Li Youcai was a businessman in his previous life, so it was natural for him to deal with banks, and it could even be said that he dealt with them very frequently.

Li Youcai knew all about the loan system.

If a businessman wants to use money for turnover, there are only a few ways.

The first way is to seek a bank loan, which is characterized by complicated procedures and long time, the need for equal collateral, a relatively large amount, and relatively low interest.

The second option was to borrow from a financial institution. This had relatively simple procedures, required collateral, had a wide range of loan amounts, and offered moderate interest. However, at the time, no such institution existed, so it was out of the question.

The third type is private lending, which is characterized by high interest rates and almost no formalities. However, those who dare to lend money are almost always powerful big brothers.

At this time, the country does not have a clear standard for private lending, and there is not even a relevant legal basis.

Therefore, there are many people who lend money at high interest rates and carry money.

Some interest rates can even reach over 75%, which is frightening. Ordinary people are not surprised by such horrific interest rates as "nine out and thirteen back".

Li Youcai needs to borrow a lot of money. If he goes to an underground money lender, the interest alone will be enough to drain him out of his pocket. Borrowing from a credit union is his best option.

Li Youcai said, "I plan to take out a five-year loan, with interest paid first and principal paid later, and the payment will be made annually."

Hearing this answer, Pengfei knew that Li Youcai was also a wise man, so he said:

"Since you already know everything, and it was Mr. Wang who introduced it to me, I'll just tell you directly.

Our minimum interest rate for loans over five years is 4800%. Interest is paid first, principal later. Your annual interest is yuan. The first year's interest will be deducted directly from the loan. After that, you will pay interest once a year, and the principal will be paid off in five years. Do you have any problem with this?"

The so-called one-point interest is very simple to explain. It means a monthly interest rate of 1%, which is equivalent to an annual interest rate of 12%.

Although the interest rate is not low, Li Youcai can accept it.

The interest rate at that time was like this, unlike the later generations when the current benchmark interest rate was introduced, coupled with national regulation and the gradual improvement of the financial market, which led to the gradual reduction of interest rates.

Although he could accept it in his heart, Li Youcai still pretended to be hesitant on the surface, and then he said, "I need to think about it again. President Peng, I will give you an answer in a few days."

When Pengfei heard Li Youcai say this, his first thought was that the other party felt the interest rate was too high.

However, he was also confident and did not try to persuade Li Youcai to stay. Instead, he said, "It's right for you to consider it, but the interest rate of our credit union is still relatively low. When you have made up your mind, you can come back to me at any time."

"Thank you, President Peng. You go ahead and do your work. I won't bother you anymore."

After getting up and leaving the credit union, Li Youcai returned to the market.

He said that this was actually a psychological game. First, he wanted to see if there was any room for interest rates to fall. Second, the materials regarding the land for the farmers' market were still in the hands of the flour mill. Even if he wanted a loan, he had to get the materials first.

The main purpose of his trip was to explore the way forward. Once he was sure that he could use the land to get a loan, he could then go ahead and do his work.

At the flour mill.

Wei Guoqing has held three factory leadership meetings to discuss the possibility of cooperating to establish a bakery with leaders at all levels.

After everyone's discussion, the flour mill has basically reached a consensus.

In principle, the flour mill agreed to jointly operate the bakery with Li Youcai's collective enterprise, but in order to protect its own interests, the flour mill needed to participate in the management of the bakery.

There is a unified thought.

Wei Guoqing contacted Gao Dapeng directly and asked him to tell Li Youcai that the two sides should have a formal face-to-face negotiation at the flour mill.

When Li Youcai returned to the factory at noon, the female workers had already prepared the meal.

The people in the yard, each holding a lunch box, found a place and sat or squatted to eat lunch.

When Li Youcai returned to the office, Chu Xinyan was waiting for him. Two lunch boxes were already prepared on the desk, with rice covered with vegetables.

Chu Xinyan saw Li Youcai come in and said, "You're back. You must be hungry. I just made two boxes of food when we started eating. I wanted to wait for you to come back and eat together. I just made them a short while ago and they're still warm."

"I'm actually a little hungry." Li Youcai took off his coat and looked at the rice and vegetables in the lunch box: pork stewed with sauerkraut and vermicelli, and chicken stewed with potatoes.

Because it is just the beginning of spring, fresh vegetables have not yet arrived, and green leafy vegetables are not available on the market. Sauerkraut and potatoes are the most common ingredients.

Li Youcai took the chopsticks handed to him by Chu Xinyan, grabbed a lunch box and started eating.

"You can eat too. The meals here are all cooked in a big pot. The cooking skills of the people who cook are pretty good, and the dishes taste pretty good too." Li Youcai said to Chu Xinyan.

Chu Xinyan smiled and said, "After you left today, I chatted with them for a while. They are all very nice people."

Crunch and clang!

Gao Dapeng, Li Youjie and Dazhuang walked into the office together.

Li Youjie brought two plates of hot dishes and placed them on the table: "Sister-in-law, I ordered two dishes for you, you can eat them."

"No, these are fine. You're being too troublesome." Chu Xinyan didn't expect that Li Youjie would actually go to the restaurant alone to order food for her. She felt a little embarrassed.

Li Youcai was not polite at all. He greeted Chu Xinyan: "Just eat what you bought. Why are you being so polite to him?"

"Hello, sister-in-law, I'm Gao Dapeng." It was the first time that Gao Dapeng saw Chu Xinyan. He sighed that Li Youcai was so lucky to marry such a beautiful wife.

"Hello, Brother Gao. Mr. Youcai mentioned you at home and said that you helped him a lot." Chu Xinyan responded with a smile.

"No, no, it's still Brother Youcai who helps me the most."

Gao Dapeng smiled modestly, then looked at Li Youcai, who was showing off his meal, and said, "Old Wei called and said that their factory meeting has basically passed the discussion and they want to invite you to their factory to formally start the negotiation."

Hearing this, Li Youcai immediately stopped what he was doing and looked at Gao Dapeng with a happy face.

"Have you decided on a time for the meeting?" Li Youcai asked hurriedly.

"Let's go to their flour mill to talk at 10 o'clock the day after tomorrow morning," said Gao Dapeng.

"That's great!" Li Youcai whispered happily.