Inventory mortgage loans: Do banks dare to take risks?
According to many banking experts, the current ceiling on lending interest rates is still considered a necessary measure, but for many people, this policy is not enough. Many businesses seek loans from banks but are rejected for many reasons, of which the biggest obstacle for small and medium-sized enterprises is having to prove their financial capacity, transparent bank payments, not to mention having collateral, etc.
Businesses still find it difficult to borrow capital because of collateral
Mr. Le Anh Tuan, Director of a small and medium-sized enterprise specializing in agricultural mechanical equipment (Thanh Xuan, Hanoi) said that when the information about the 15%/year loan interest rate ceiling was announced, he realized that the company met the conditions, but when he went to the bank, Mr. Tuan was disappointed because he could not meet the mortgaged assets. "The company is in need of 2 billion VND in working capital but cannot meet the mortgaged assets, and even has to borrow at 18%/year. The bank stipulates a 15% loan interest rate ceiling, but not all enterprises can access it, especially small and medium-sized enterprises," Mr. Tuan shared.
As one of the small and medium enterprises that are considered for loans, Mr. Luong Trong Tuan, General Director of Phong Phu Production, Trade and Service Joint Stock Company, said that compared to the previous rate of 18-19%/year, the current rate is more affordable, but the bank evaluates the application procedures very carefully.
Mr. Tuan said: "Banks often consider mortgaged assets, but most businesses currently have many assets that were previously mortgaged. The assets they have now are probably just unsold inventory."
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Many economic experts are looking for a solution for businesses to mortgage inventory to borrow new capital. |
It is a fact that many businesses are facing difficulties not only in capital and high interest rates but also in slow consumption of goods due to low purchasing power of the economy. According to the General Statistics Office, the inventory index of the processing industry as of April increased by more than 32% while the consumption index increased by only 3.5% compared to the same period last year.
Is it illegal to mortgage inventory?
According to economic expert Dr. Bui Kien Thanh, in order to release inventory and increase purchasing power, the Government should completely exempt Value Added Tax so that businesses can lower costs, pay for inventory to continue production. In addition, inventory is the property of the business, so banks should consider it as collateral for new loans to businesses.
Agreeing with this view, banking expert Dr. Nguyen Tri Hieu said that currently, in addition to the support solutions that the Government has just issued under Resolution 13, adding a 3% interest rate difference compared to new mobilization only partially solves the difficulties of businesses.
Mr. Hieu emphasized: "The core issue is the issue of releasing inventory. In the context of businesses having difficulty in capital to maintain production, how can they be eligible for new loans if many old loans have not been "resolved"? Inventory is the asset of the business, if the State Bank flexibly takes some measures to handle procedures related to inventory, creating conditions for mortgages, it will support businesses", Mr. Hieu said.
However, according to Mr. Hieu, for this solution to be effective in practice, it requires banks and businesses to coordinate smoothly and share benefits.
Mr. Hieu said that this option also has many risks for banks. Therefore, banks need to control inventory, control cash flow from inventory to the bank reasonably. On the other hand, inventory value is often lower than the market, usually the valuation difference with the actual market is about 30%, the inventory must ensure long-term value, such as construction, textile, construction materials... In addition, inventory goods require high liquidity, banks should provide businesses with details of goods, warehouse control, product quality to calculate appropriate rates and disburse capital.
According to Vietnamnet - H
