Rebirth: Super Banking System-Chapter 447 - 363: The Advancing Fenghua Assets (Please Subscribe!)_1

Gao Ming had nothing much to do, so Tang Qing got up and left.

Actually, there were plenty of matters, otherwise Dou Jiao wouldn’t have come today. It’s just that these issues had nothing to do with Tang Qing, the hands-off boss. He came today to meet several managers of the security company and paint a picture of the future.

He had no interest whatsoever in getting involved in the specifics, a glance at the Sky Eye’s report afterwards would suffice.

Seeing Tang Qing so capriciously speaking a few words and then leaving, Gao Ming witnessed for the first time how thorough Tang Qing was as a hands-off boss. What else could he do but give a wry smile? He could only give Tang Qing a glance that said ’take care’.

"Get used to it, Boss Gao," Dou Jiao said with a chuckle.

"Ha, our Boss Tang is no ordinary man," Gao Ming sighed. If you said he’s naive, there’s a touch of shrewdness in his deeds; if you said he’s reckless, he is approachable and straightforward, and overall, you have to say, he’s a man of great charisma and influence who unconsciously makes people feel at ease.

"Of course, could an ordinary person achieve so much at this age?" Dou Jiao said with a touch of pride in her voice. If it wasn’t for Lin Jiaxue being present, she wouldn’t have been able to resist playing matchmaker for Tang Qing. Her mother’s family had quite a few eligible girls who were quite well-rounded, and given Tang Qing’s qualifications, he could pick at will.

But ever since she met Lin Jiaxue, she didn’t think of it again. She knew that Lin Jiaxue was Tang Qing’s lifelong love, inseparable.

"True that."

Gao Ming nodded repeatedly.

"Alright, let’s start our meeting." Dou Jiao instantly switched to work mode.

...

After leaving Gao Ming, Tang Qing didn’t go anywhere else, instead he headed to Fenghua Asset Management Company.

After all this time, Fenghua Asset Management Company had also embarked on rapid development. The previously allocated RMB 50 million had long been used up. Tang Qing had to urgently allocate another RMB 100 million to sustain it until now.

Through word of mouth and introductions by clients, Fenghua Assets had already made a name for itself in the lending industry of Qingyan City. More and more small business owners have heard of it, and naturally, the number of clients skyrocketed.

According to the command room’s statistics, up to now, the total amount of loans given out by Fenghua Asset Management Company has exceeded RMB 200 million, with a clientbase of over two hundred. It averages out to about RMB 1 million in loans per client.

Is RMB 1 million a lot?

Of course not.

But it also depends on the coverage.

Tang Qing had set limits on these loans long ago. Currently, they only serve small and medium-sized enterprises, not accepting large enterprises or individuals in need of emergency consumption loans. The loan amount also has a limit. New customers can only get a maximum of RMB 1 million on their first loan, and must provide a guarantor or collateral of equivalent value. At this point, the customer’s credit level is considered average.

Once the first loan is paid back on time, the customer level will be upgraded, and they will become a level one customer with the loan limit doubled. To prevent malicious level grinding, they can only enjoy the treatment of the current level starting from the third month after upgrading.

These two levels are just for establishing initial trust while giving the company time to thoroughly inspect the loan borrower’s industry, position, and personal information. After a complete profile of the individual is built, the amount and method for each client to upgrade their level will differ in the future.

Different clients have different credit, personalities, industry standings, family situations, personal relationships, and capabilities. There are too many factors, so even within the same level, their loan limit will have dynamic changes flexibly. It won’t be fixed. After all, even if a business owner has good credit but has a risk of family breakdown and an extreme personality, the loan risk is high, so it must be taken into consideration.

This grading method is extremely tedious and complex. Forget about local lending, no bank in the world would consider establishing such a comprehensive and complex auditing classification system. It costs a lot, especially for small loans like these. But Tang Qing wanted to give it a try. After all, even if he set up a bank in the future, the goal would be to create a profit-making bank that truly serves the vast majority of good credit customers, while ensuring the safety of its own funds. A bunch of bad debts is not what he wants. He wants to do something different. Fenghua Asset Management Company is a very good testing ground. If it succeeds, it will be useful in the future. Even if others can’t copy it, if it fails, it’s not a big deal as it’s easier to turn the ship around when it’s small.

With the fighters by his side,

Tang Qing had the confidence to perfect this brain-burning system.

Upon arriving at Fenghua Assets,

The place was no longer sparsely populated as before, customers were now lining up, one by one, holding documents and waiting for review. When Tang Qing arrived, he saw seven or eight people sitting on the chairs at the entrance. However, Tang Qing knew that even if the collateral restrictions were loosened, there wouldn’t be more to two of them who could get the loan.

The reason was simple.

He had previously reviewed the summary information for Fenghua during this period.

They received over a thousand submitted applications, of which less than 20 percent passed the review. This was even after the collateral restrictions were relaxed.

For example, a general factory valued at two to three million RMB would find it very difficult to apply for a loan from the bank. Even if they pull some strings or grease some palms, the loaned amount would definitely not exceed one million five hundred thousand RMB. One million RMB would even have to depend on luck.

Of course, this is a general situation. There are many examples where an asset worth one million RMB is appraised at ten million RMB, and a loan of five million RMB is taken. However, compared to the ratio, it can be ignored and therefore not taken into account.

Although Fenghua’s loans relaxed the restrictions, they could guarantee collateral at eighty percent of the appraised value. As long as the ownership had no issues, and the owner’s loan was used for industrial operations, then there would certainly be no problem with the first loan. However, most of the rejected applications were business owners who lied about the real situation of the company, provided false information, or intended to rob Peter to pay Paul.

Tang Qing’s goal is to help those credible small and medium business owners to grow, solving their capital problems. They don’t even impose mandatory requirements on the operating status of the enterprise for the first loan. Yet, there are still many people who come here and lie in an attempt to deceive them to get a loan.

If they fail to maintain basic honesty, Tang Qing can only apologize to them.

Thanks to his previous life’s experience with small loans, he had always wanted to help those credible small business owners, and not everyone. He didn’t believe he had that capability, nor did he desire to help those unscrupulous merchants who specialized in fraud, showed no mercy in getting rich, and lied continuously.

PS: Chapter three has arrived. Begging for votes!