Word: businessese
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So what's the reason for all this bullishness? Surely not the economy, which continues to muddle along through the muck of heavy consumer debt and a poor housing market. But businesses are in better shape, and the financial crisis seems to be fading from view, even as small business...
For Wang Baoguo, CEO of the Hangzhou Dafeng Furniture Co., securing two loans via Alibaba has meant gaining the cash to buy raw materials at lower cost. The seven-year-old company employs 150 people and manufactures wooden home furnishings. But despite its experience, Hangzhou Dafeng has traditionally avoided pursuing...
The chief reason that small, private enterprises have such difficulty is that China does not have a well-established system of credit ratings. "Banks are geared to lending to very big companies that are very easy to understand," says Spelich. "Lending to a company that has maybe five employees is...
Some smaller commercial banks have started experimenting with lending to small businesses, says Du. Other initiatives include websites that provide a sort of online credit market, where parties looking to make or take out loans can post terms and find deals online. But so far the volume is low and...
While new types of lending programs are slowly expanding credit to SMEs, things could get worse later this year. The overall boom in bank lending has increased the risk of bad loans that could come back to haunt the financial system and delay economic recovery. Some economists now say that...