Chapter Five Hundred and IX Expanding the Scope of Financial Services Business
The next step is where the money comes from. Their behavior is basically playing around the corner. It is more difficult to obtain funds from the bank in an open and honest manner.
In particular, inflation has been relatively high in the past two years. Although the industries under Leaf Book have provided more products, which can be regarded as absorbing a certain amount of inflation, the inflation has not completely subsided.
In order to reduce inflation, bank deposit interest rates are very high, just to attract social funds into the banking system and reduce the scale of capital flow in society.
Their small loans are just contrary to the actual environment, and the increase in deposit interest rates will lead to very high loan interest rates. People may shrink back when they see such high interest rates.
Poor families are very cautious about taking out loans. They are afraid that they will not be able to repay the money in time, which will make the already poor families worse. The promotion effect will definitely not be very good.
If there are no obstacles from these factors, it would be easier to handle. At worst, if a group company with good income comes out to provide a loan guarantee, the bank will most likely agree.
They did earn a lot of money last year, but the money has already been used for its own purposes, and it has been allocated cleanly, leaving almost nothing left.
As for the funds retained by each group, they are basically used as corporate expansion funds and to deal with some uncertain risks, and it is impossible to spend all of them.
Ye Zishu thought for a while, then made a decision in his mind, and said, "If this business develops, the beneficiaries should be your three conglomerates.
New Oriental Education Group can't contribute to this in terms of profitability or economic size, so we still have to count on your two companies to bear the main responsibility.
I suggest that Qinglong Technology Company and Xuanwu Technology Company jointly set up a temporary fund, and inject corresponding funds in according to the situation that you may benefit from.
Ideally, the number of school-age students is about 200 million. Since most of them are from rural families, the number of students with financial difficulties may reach more than 100 million.
Let's calculate based on the amount of 100 million, and the size of your temporary fund should reach more than 50 billion yuan, which is not particularly difficult for you to afford.
The above calculations are the stock of school-age people. According to the estimation of the annual birth population in my country, there may be about 20 million new school-age people every year.
In other words, in the next few years, you may still need to maintain the size of the temporary fund at about 5 billion yuan, and the maintenance pressure is not too great.
The above is a matter of hardware,
As for the software, I suggest that New Oriental Education Group conduct a zero-yuan promotion to reduce the pressure on everyone from the cost of smart educational content. "
Ye Zishu's remarks seemed to be okay, and indeed within their ability to bear, but they were still surprised after hearing it.
You must know that there is basically no collateral for this kind of small loan. If the loan is issued, it is easy to cause bad debts, and they cannot build a strong team to recover it.
And according to the boss, it seems that these funds have never been thought about to be recovered, and there are no necessary precautions, so how can they not be surprised.
Maybe this is a project with a loss of nearly 100 billion yuan. Even if the two companies are rich and powerful, it is still difficult to ignore such a loss.
As for Yu Minhong of New Oriental Education Group, he has no objection to this. Their group has been in a state of loss until now, and they don't care about adding this loss-making item.
"What if you can't get back the loan?" Wu Chaoqiang asked.
Hearing what he said, Ye Zishu said: "To be honest, I am actually not very willing to make money in the education field, and I am even willing to operate at a loss in this field.
It’s just that I also know that any long-term loss-making project will not last long, and the same is true for education. Unless the problem can be solved at the national level, it must be operated according to commercial rules.
It's just that the current domestic economic situation is like this, and we are going too far ahead, which makes many things not so smooth.
To tell you the truth, I never thought about how much loan I could recover from the temporary fund you established, and whether the loan is repaid depends entirely on the will of the lender. "
Hearing what he said, Wu Chaoqiang disagreed, saying: "I know the boss's wishes are good, but this kind of behavior is not advisable.
Even if we plan to lose money, we cannot blatantly publicize it to the outside world. This will seriously damage the domestic financial order and may cause dissatisfaction among many financial institutions. "
According to Wu Chaoqiang, even if you are throwing money, you have to pay attention to the method and method. This kind of brainless way of throwing money will not only have no good results, but will make their two companies a target of public criticism.
They can gain huge benefits from it, and it doesn't matter if they fight against other forces. This kind of project is obviously unprofitable, and in his opinion, there is no need to fight against other forces for this.
Ye Zishu heard Wu Chaoqiang's words and said with a smile: "Of course I understand this truth, so it's not like we don't have any punitive measures for this targeted micro-loan project.
Your temporary fund will cooperate with Tanzania Financial Services, and Tanzania Financial Services will launch a personal financial credit rating system.
Gu Yan
When the personal financial credit rating drops to a certain level, you may not be able to obtain the support of platform financial services in the future, and you will also pay a higher price for the purchase of our industrial services.
Although this kind of measure does not seem to have much binding force, it will actually have a serious impact on many aspects of the individual in the future. Choosing to breach the contract for a mere few hundred or thousands of dollars is a choice that is not worth the candle. "
Leaving other things aside, take medical services as an example. If you are a dishonest person, you need to pay more than others when you join the medical membership of Tai Chi Group.
Everyone can't say that they will never deal with medical institutions in their entire lives. The extra expenses in this area alone have exceeded the cost of their choice to breach the contract.
If they want to use Wancheng Jiye's property services in the future, they will also need to pay much more than others, and may even not enjoy this service at all.
At that time, in order not to be affected by dishonesty, many people will do everything possible to choose remedies, and the funds they borrowed will eventually be returned.
Hearing what he said, Wu Chaoqiang was not so worried. He knew very well how extensive the boss's industry was. With the development of time, no one can say that he will not deal with the boss's industry for a lifetime.
This kind of soft control method works very well in the small loan business, and it is more flexible than the bank model, and the cost of conducting financial business is also lower.
"What is the appropriate loan interest rate?" Yu Minhong asked.
If it is normal commercial finance, there is no need to ask this question at all. The loan interest rate is definitely higher than that of banks, and may even be more than doubled.
But the meaning of Ye Zishu just now is very clear. The purpose is not to make a lot of money from this, but to make some contributions to domestic education, and even consider losses.
That's why he can't decide how to set the loan interest rate. Now the bank loan interest rate is very high. If it is set according to the bank's standard, it will put a certain amount of pressure on many families.
According to Ye Zishu's original intention, the interest rate can be lower than that of bank loans, but he knows that doing so will definitely attract criticism, and it will be easier for them to become prominent rafters.
So he said: "Just follow the bank loan interest rate. We should not be special in this regard, otherwise someone will jump out and say that we disrupt the financial order, and the overdue penalty interest will also follow the bank standard."
Regarding the issue of smart education promotion, it is basically over here, and companies like them will do the tedious things behind it, and Ye Zishu does not need to participate.
After the meeting, Ye Zishu wrote the idea of online finance into a business plan, and then handed it over to Danque Financial Services Company to let them start thinking about it.
If it is purely operating online payment services, the scale of Danque Financial Services Company will not be very large, at least compared with brother companies, there is no comparison at all.
This targeted microfinance financial service is an attempt at online financial services. Although they can't get actual benefits from it, it is of great significance to explore online financial services.
Once an efficient online financial service system with a low bad debt rate is established, it will have a huge impact on traditional banks, and financial service rules may be rewritten accordingly.
Of course, if it succeeds, as the first company to eat crabs, the benefits will be huge, and it may even become the fastest growing financial service company in history.
If it is not successful, the outcome will be hard to say, but Ye Zishu thinks that at most it will return to the pure online payment business. Compared with the benefits brought by success, the consequences of failure are not very serious.
In fact, Danque Financial Services Company's online small loan is a supplement to the existing bank financial services. As long as it is not as crazy as those small loan companies in the previous life, it will only bring benefits to the society.
And Danque Financial Services Company also has advantages that others can't match in this business. First, it has technical advantages, so I won't say much about it.
The second is the supporting advantages of the brothers' industries, so that their soft constraints such as credit ratings have a certain deterrent force, and they can support the system alone without the help of other financial institutions.
The third is a wide range of sources of funds. In fact, the microfinance companies in the previous life did not have much funds themselves. They all obtained funds from banks or raised funds, and the financing costs were very high.
In order to cover the cost, they must set the loan interest rate very high, and even use illegal means to obtain high profits, otherwise it will be difficult to maintain operation.
The parent company of Danque Financial Services Company is Phoenix Technology. As the world's top software service provider, they not only have very high operating income, but also have very high profit margins.
Their revenue last year was there, and their revenue will only increase in the future. There is no shortage of money at all, and the funds in their system can support this business.
In other words, the capital cost they obtain is actually almost the same as that of banks, and even because of lower operating costs, they can offer lower interest rates than bank loan interest rates.
In actual operation, the interest rate of small loan products is one or two points higher than the standard loan interest rate of the bank, which is very conscientious and a model of honest management.
In the plan, Ye Zishu emphasized that they must do their best to obtain various financial business licenses, and "streaking" is not always an option.
