Chapter 31 Pay attention to the golden key of credit

There is a popular saying among Wenzhou people: "If you have a loan, you must pay it back. It is not difficult to borrow again. If you do not repay the loan, the whole family will be ruined!" Bad in nature.Therefore, people in Wenzhou don’t need to sign a contract to borrow money. It is all bound by this concept. Borrowing money must be repaid, which is equivalent to the “hidden rule” in Wenzhou circles. Under the constraints of this "hidden rules", Wenzhou people have created myths that others cannot imagine.First, in 2008, a report titled "Wenzhou People Borrow the Most Creditworthy Banking Industry with a Non-Performing Loan Rate of Only 0.71%" let people see the credit environment of Wenzhou people.Then, a "golden pen benefit" became popular in the circle.

The so-called "golden pen benefit" means that the boss in Wenzhou has a "golden pen". When he borrows money, he doesn't need a mortgage or a guarantee. He only needs to sign his name, and with a signature, he can borrow thousands of dollars from the bank. million loan.For example, Zhou Chengjian, chairman of Shanghai Metersbonwe Co., Ltd., once obtained a loan of up to 27 million yuan from Industrial and Commercial Bank of China just by signing.The reason ICBC is so reassuring and bold is that Zhou Chengjian's personal credit has played a vital role in addition to Zhou Chengjian's good business operation.Similar entrepreneurs include Nan Cunhui, chairman of Chint Group, who received a signed loan of 200 million yuan from the Wenzhou Branch of the Agricultural Bank of China.

In addition to these two well-known entrepreneurs, there are many small and medium-sized enterprises in Wenzhou that have developed through this type of borrowing.Industrial and Commercial Bank of China once reported a data: Wenzhou Branch issued loans through this "golden pen benefit" as high as 8% in 2008. These data fully demonstrate that Wenzhou people have established a good credit environment, which not only won investment capital for themselves, but also won the trust and cooperation opportunities of banks, providing conditions for creating more wealth. Not only credit to the bank, Wenshang also has a high degree of credit among the people.

In Shanghai, there is an enterprise specializing in gifts, handicrafts, and accessories. The boss is surnamed Lin. In 2007, Boss Lin sold 50 batches of goods on credit to a Wenzhou customer, but accidentally lost the receipt.The value of these 50 batches of goods was as high as hundreds of thousands, which made Boss Lin want to cry without tears.Holding the mentality of giving it a try, Boss Lin went straight to Wenzhou, trying to explain to Wenzhou customers.Unexpectedly, after the Wenzhou customer figured out his purpose, he immediately took out his own receipt and asked Mr. Lin to fill in a new one with reference to this data.Two months later, the credit sales were all credited to Boss Lin's account.This moved Boss Lin very much. From then on, he not only sold to Wenzhou customers on credit readily, but also took the initiative to provide convenience to each other, so that both parties can get the greatest benefit.

Although the incident that Boss Lin experienced was not a matter of borrowing money, it reflected from one aspect that Wenshang attaches great importance to credit. The reason why Wenzhou merchants value credit so much is inseparable from the following factors: 1. Credit is the foundation of business startups in Wenzhou. Many small and medium-sized enterprises in Wenzhou made their fortunes through borrowing. For example, A wants to invest in a project, but the funds are insufficient. In the early stage of starting a business, because it is difficult to obtain a loan from the bank, he can only ask his relatives and friends.If the amount of money is not too much, relatives and friends will lend him money in view of mutual friendship.If the required amount is relatively large, these relatives and friends sit together to study and discuss everything, and feel that the project has a large profit margin, so they buy shares as a partner to help A complete the initial capital preparation.

If A does not bring in a partner, but simply borrows money, he must state when he can repay it when he borrows it.It's okay to lose business, and it's okay to be late, but you just can't deliberately refuse to pay back.Once bad credit occurs, his notoriety will spread throughout the Wenzhou circle, and those who owe money will become the object of the whole Wenzhou group's spurning.After that, if he wants to complete the investment through private borrowing, it will be impossible. Not only that, because of the credit crisis, it is difficult for his company to have a market in Wenzhou, and it will not be possible to find a partner.So, no one would risk ruining his reputation like that.

Because of this unwritten "spirit of contract", every Wenzhou businessman actively and consciously maintains his own credit image when he needs to borrow money, so that he can get help from the entire Wenzhou community when needed. This method of private borrowing has played an important role in the accumulation of capital in Wenzhou. As we all know, there are conditions for obtaining a loan from a bank, either with a guarantee or a mortgage.When people in Wenzhou first started their businesses, like people in other parts of the country, they didn't have enough money to invest.You can only do some small businesses to start slowly, or use this kind of private loan to meet the initial financing of small and medium-sized enterprises.If private borrowing is used to obtain capital in the initial stage of entrepreneurship, credit is their supreme "law" and the "primary productive force" of capital accumulation in Wenzhou.

It is precisely because credit has become a law that the whole society in Wenzhou must abide by, and they have won various opportunities for themselves under the constraints of this unwritten law.Such as obtaining investment costs, gaining the respect and trust of others, gaining cooperation opportunities, and gaining the trust of all social resources.The reason why the bank dares to lend to Wenzhou merchants through the "golden pen benefit" method is based on the good reputation that has been formed before. With the support of resources from all sectors of society, when Wenzhou businessmen invest, as long as they have good projects, they are not afraid of not being able to raise capital.

2. Credit is the booster for the development and growth of Wenzhou businessmen. Most of the time, for Wenzhou businessmen, credit is a necessary character for further development and growth. This reason is very obvious.For example, a Wenzhou businessman urgently needs a sum of money to improve his equipment, so he needs to find financing. If you borrow money from a bank, you can also take advantage of the "golden pen benefit" in addition to mortgages and guarantees.Although this kind of borrowing method is feasible, it is easy to be limited.The borrower should at least be a well-known local Wenzhou businessman who can win the full trust of the bank.In addition, one's own business must operate well, so that the bank has no worries.Only when these two conditions are met can his signature be called a "golden pen".Of course, if he is as successful as Zhou Chengjian and Nan Cunhui, it doesn't matter if he expands investment in this way.

If the borrower belongs to the general boss of a small and medium-sized enterprise, it does not have such a large appeal within a certain range, and it is difficult to gain the trust of the bank through personal credit.Then he can also borrow money from the Chamber of Commerce and seek help from relatives and friends.At this time, credit plays a key role, and a good credit history is the key to his fundraising. Insufficient funds and poor equipment are likely to form a bottleneck for many small and medium-sized enterprises, because they value the golden key of credit, and this kind of thing basically does not happen in Wenzhou merchants. In this sense, credit is the key to the development and growth of Wenzhou merchants. booster.

3. Credit is a means of making money for Wenzhou businessmen. Wenzhou people have invented an amazing financing method: cash on credit.The formation of this financing method is inseparable from the credit habits of Wenzhou people. As we all know, ginseng antler is originally produced in the Northeast, but the ginseng antler market is in Wenzhou. When overseas merchants need ginseng antler, they directly purchase from Wenzhou people.In fact, Wenzhou people’s ginseng antler is also purchased from the Northeast, and the price they sell is cheaper than the Northeast’s origin.Are Wenzhou people stupid?How to start a loss-making business? It turned out that Wenshang only paid in full with the Northeast people for the first few purchases. When they became familiar with each other and trusted each other, Wenshang started to buy goods on credit, paying only a part of the deposit each time, and promised to settle the bill at the end of the year.As a good cooperative relationship has been established before, the Northeast people also trust Wenzhou people, and the two sides have established a good long-term cooperative relationship. Now a new problem arises: selling ginseng antler from Wen merchants is obviously at a loss, how can such a business last for a long time.Because Wenshang's ginseng antler is cheap, it attracts a large number of overseas merchants. These merchants need a large quantity, and Wenshang thus obtains a large amount of funds.Then, Wenshang was not in a hurry to return this batch of funds to the Northeast people, as long as it was settled at the end of the year. During this period, he used the funds to invest in other projects-these projects earned high profits. As a result, although people in Wenzhou lost money in the ginseng business, but lost a small part, they gained a lot of money through the ginseng business, and these funds became the original capital for their larger investment projects.The shrewdness of Wenzhou people is really unimaginable. The key to this business is credit. It is precisely because of the establishment of a good credit relationship with each other that Wenzhou talents have used the bridge of ginseng business to realize the accumulation of original capital and lay a solid foundation for further investment expansion. In other words, in the eyes of Wenzhou, credit is not only a kind of character, but also a means of making money.The classic case of ginseng is obviously a bet with the help of one's own credit.As a result, they won. Let's go back to an old question: Why are Wenzhou merchants accumulating capital so fast? Credit is the most important factor, credit is like a kind of invisible capital for Wenzhou people.Because the entire circle has a good sense of credit, Wenzhou merchants can gather the idle funds of the people, and they can better cooperate in groups, and the capital of Wenzhou can grow bigger and bigger like a snowball.