Petty Loan Helps Beiben Upstream and Downstream Companies
www.chinatrucks.com: Beiben Truck set up Runfeng Petty Loan Company with registered capital 532 million Yuan in March last year to solve financing problems faced by upstream and downstream companies of Beiben Truck. Longxingweiye Auto Trade Company applied twenty million Yuan successfully, and till now they have sold out 200 trucks, 40% of their annual plan.
Beiben truck
"Business chances are always rather timely, it is very easy to slip away if no convenient and fast financing methods," explained manager in Longxingweiye Auto Trade Company.
Baotou Huaxin Machinery Company has also applied petty loans for three million Yuan, and it only took three to seven days for the whole process, and they said that it is a rather good financing channel for financial straits and cash flow problems. They have applied three million Yuan last year and they are planning to lend ten million Yuan this year.
To control risks, they are checking operation condition of the applying companies by their purchasing and finance departments.
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