Cut into the "accounts receivable" commercial factoring blowout
Release date: 2017-10-20
A lot of capital is pouring into a new industry, commercial factoring。According to the latest statistics of the Commercial Factoring Committee (CFEC) of the China Association of Trade in Services, as of December 31, 2014, the number of commercial factoring institutions registered in China has reached 1220, which is 4 in 2013.23 times, up from 19 in 2012.2倍。
At present, many enterprises are pouring into commercial factoring business, including those with banking background, insurance background, e-commerce background and retail background, as well as investment enterprises doing equity investment and financial leasing business。
With the liberalization of the factoring industry by national policies, the further improvement of the development environment, and the development of new forms of business such as e-commerce and Internet finance, the scale of commercial factoring business is showing a rapid growth trend。
Cut to "Accounts receivable"
At present, in international trade or domestic trade, credit sale has become a mainstream way of transaction, in addition to resource-based monopoly enterprises, other enterprises are basically on credit sale。Industry estimates, in our country's foreign trade settlement, the ratio of L/C settlement has dropped below 20%, the ratio of credit sales rose to more than 70%。The total amount of receivables in the domestic market is at least 20 trillion yuan。
Compared with traditional settlement methods, factoring business integrates trade financing, commercial credit investigation, accounts receivable management and credit risk bearing, and its main advantage lies in its financing function。The application of factoring business is more and more extensive, and it has great development space in the business and financial operation of enterprises, and has become the most suitable way of trade financing。
People farm assets general manager Zhou Kang told the Economic Observer reporter，At present, domestic small and medium-sized enterprises have the problem of difficult and expensive financing，The receivables they generate throughout their operations，In the case of its credit status is not very clear, the measures are not very comprehensive, and the asset adequacy ratio is not very strong，Smes do not have access to mainstream financing，And combined with private lending，The high cost of capital will limit its business development。
"Accounts receivable financing just becomes a new way, through the form of factoring, enterprises can realize the accounts receivable formed in the production process and trade process, to bring them liquidity support.。At present, the increasing demand for commercial factoring makes more commercial factoring companies join the industry and grab this business。"Zhou Kang said。
It is understood that the profit sources of commercial factoring companies usually include two parts, one is financing interest。Funds provided to a business before accounts receivable are received, during which time interest is charged。The second is factoring service commission。Factoring companies charge commissions for credit evaluation of buyers, collection and management of accounts receivable, etc。Although the factoring industry is not a profiteering industry, the commission proportion is not high, but the total amount of business is generally relatively large。The profitability of large factoring companies can be close to that of banks。
In the process of accounts receivable financing, risk control is the focus that many commercial factoring companies are studying and solving。Zhou Kang said that in terms of risk control, the first thing is to confirm the authenticity of the entire asset, the identification of the buyer and seller, the authenticity of the transaction process, the registration of accounts receivable, the specific situation of assets, the transferability of accounts receivable, which is related to their own risk management, these are the principles of risk control。Factoring business is to support the liquidity of the enterprise, similar to the form of credit lending, even if there is a pledge of accounts receivable, behind it is still dominated by credit。
Blowout quotation
In June 2012, after the Ministry of Commerce issued the "Notice on the Relevant Work of Commercial Factoring Pilot" and agreed to carry out commercial factoring pilot and set up commercial factoring companies, commercial factoring companies have mushroomed。
In 2014, industry experts predicted that the number of companies in the industry would increase to 300-500 in the next three to five years。By the end of 2014, the number of registered commercial factoring enterprises had exceeded 1,200。The development trend of business factoring has made the industry unexpected。
"The reason why commercial factoring has developed so rapidly is the demand of the entire market。Inclusive finance has not yet developed。Ordinary small and medium-sized enterprises have no access to financial services。Many small and medium-sized enterprises are asset-light enterprises, and bank loan guarantees need to mortgage heavy assets, which cannot be connected with financial institutions, and development is in urgent need of funds。Private capital is abundant, but there is difficulty in investment. At this time, factoring business comes into being. As an intermediate and innovative financial service method, it just connects the two and caters to the financing needs of micro, small and medium-sized enterprises。Through accounts receivable financing, solve the financing difficulties of small and medium-sized enterprises。"Mr Zhou said。
Zhou Kang said that the 20 trillion commercial factoring market is still not fully developed。Such a huge market space, neither banks nor commercial factoring companies can do it alone。The market prospect is very broad。
"In the next 3-5 years, the number of enterprises in the commercial factoring industry will increase more, and more enterprises will pay attention to and consider obtaining liquidity support through supply chain finance and factoring.。Internet financial platforms will also help release more liquidity for commercial factoring。"Zhou Kang said。
