A small loan company refers to a legal person institution initiated by a natural person or an enterprise legal person, which only uses capital to issue small loans and cannot absorb deposits. It is a new loan organization encouraged by the central government in recent years to meet the financial needs of rural areas. The loan interest rate is within 4 times of the benchmark interest rate, generally around 18%.
In 2005 and 2006, the No.1 Document of the Central Committee was one of the national policies for small loan companies. Both of them proposed to explore the establishment of micro-loan organizations initiated by natural persons or enterprises that are closer to the needs of farmers and rural areas, increase rural financial supply, and solve the problem of difficult loans for micro-enterprises and farmers. According to this requirement, the People's Bank of China, China Banking Regulatory Commission, Ministry of Finance, Ministry of Commerce and other departments have conducted many investigations and policy discussions on the pilot work of microfinance organizations.
On June 5438+ 10, 2005, a county was selected in five provinces (regions) of Shanxi, Sichuan, Guizhou, Inner Mongolia and Shaanxi to carry out a pilot project of small loan companies, and the People's Bank of China provided business guidance. At the same time, it is proposed that provincial governments outside the pilot can organize themselves if they engage in pilot projects.
On May 4, 2008, the China Banking Regulatory Commission and the People's Bank of China jointly issued the Guiding Opinions on the Pilot Project of Small Loan Companies, which put forward more specific and clear guiding opinions for the organizations of small loans.
For this document, the state's policy on microfinance companies has the following contents:
(1) nature and organization
Microfinance companies are limited liability companies or joint stock limited companies established by natural persons, corporate legal persons and other social organizations that do not absorb public deposits and operate microfinance business. The registered capital of a limited liability company shall not be less than 5 million yuan, and the registered capital of a joint stock limited company shall not be less than/kloc-0.00 million yuan.
(ii) Sources of funds
The sources of funds for microfinance companies are mainly capital paid by shareholders, donated funds and integrated funds from no more than two banking financial institutions. However, the balance of the incorporated funds shall not exceed 50% of the net capital.
(3) Use of funds
Small loan companies should adhere to the principle of "small amount and dispersion" in issuing loans. The loan balance of the same borrower shall not exceed 5% of the net capital of the microfinance company. The upper limit of the loan interest rate shall be released, but it shall not exceed the upper limit set by the judicial department, and the lower limit shall not be less than 0.9 times of the benchmark interest rate.
(4) Supervision and management
Where the provincial government can make it clear that a competent department (financial office or relevant institutions) is responsible for the supervision and management of small loan companies and is willing to bear the responsibility of risk disposal of small loan companies, it can carry out pilot projects to set up small loan companies within the scope of this province (autonomous region, city) and county. To apply for the establishment of a small loan company, after being approved by the provincial competent department, it shall apply to the local industrial and commercial department for registration, and submit relevant materials to the public security organ, the banking supervision department and the People's Bank of China for supervision and inspection.
(V) Development direction
Small loan companies that operate in compliance with the law and have no bad credit records can be transformed into village banks on a voluntary basis according to the Guidelines for the Examination and Approval of the Establishment of Village Banks and the Interim Provisions on the Administration of Village Banks.