First, the development status of microfinance business
Since 1993, China Academy of Social Sciences Institute of Agricultural Development started the pilot project of "Poverty Alleviation Society" in Yixian County, the microfinance industry in China has experienced ups and downs for more than ten years. However, due to the imperfectness of the financial system, the immaturity of borrowers and other objective factors, so far, the microfinance business has not achieved exciting practical achievements, and it is far from "developing an active and important emerging industry or sector" like some successful developing countries. China's microfinance business is developing slowly, which can't keep up with the pace of economic development and meet the financial needs of customers.
(1) The loan amount is too small. With the development of economy, the willingness and awareness of urban and rural residents to start their own businesses are getting stronger and stronger, and the demand for funds is also growing. However, due to the limited business volume of microfinance, it is usually unable to meet its capital needs. At present, the loans for laid-off workers provided by commercial banks are generally 20,000 yuan per person, and some areas have increased to 20,000-50,000 yuan; Some rural credit cooperatives provide small credit loans to farmers with a limit of 0.5-50 thousand yuan. Take the purchase and construction of vegetable greenhouses by farmers as an example. According to the current market price in Linyi, it takes about 60,000-80,000 yuan to build a vegetable greenhouse, plus about 20,000 yuan for labor wages, seeds and fertilizers. From the construction of greenhouse to the start of operation, it needs to invest 80-65438+ten thousand yuan. If credit is granted according to the above limit, there is still a considerable funding gap. Therefore, the loan amount is too small to meet the actual needs of customers.
(2) The loan period is short. Agricultural projects have the characteristics of large investment, slow effect, high risk and long payback period, while the longest term of microfinance business is one year, and the longest term of loans for laid-off workers is only two years. Farmers and laid-off workers generally have no fixed income, which easily leads to loans overdue, which not only increases the interest burden of borrowers, but also affects their enthusiasm for repayment. And it is not conducive to reflect the authenticity of loan quality; It is not conducive to financial institutions to rationally arrange funds and improve the efficiency of fund use; It also affects the pertinence and effectiveness of financial decisions.
(C) Microfinance model is single. The development of microfinance in some areas has not been combined with agricultural industrialization. Because of the asymmetry of information, it is difficult for farmers to sell their products, or they can't guard against market risks and natural disasters, and the efficiency and economic benefits of microfinance are greatly reduced.
(D) The construction of the credit system lags behind. In the past few years, due to the low level of electronic construction of financial institutions and the lack of historical credit records, credit investigation only relied on the one-sided understanding of customers by loan officers, which inevitably led to false investigation and insufficient risk estimation. Coupled with the poor financial ecological environment in some areas, some customers have the idea of evading debts, and the quality of pre-loan investigation can be imagined.
(5) Insufficient sustainability. First, the will of local governments is not strong. At the end of 2002, the People's Bank of China issued the Measures for the Administration of Small Guaranteed Loans for Laid-off Workers, which clearly stipulated the object, amount, term, guarantee and interest discount of small secured loans. However, because this policy involves government-funded guarantees and partial interest subsidies, and the amount is small, local governments are not enthusiastic in the implementation process. Second, because agriculture is affected by natural climatic factors and market factors, it is very risky, especially in industries such as breeding and planting, which are often wiped out by natural disasters or market turmoil. In addition, due to the poor accumulation of farmers' funds and weak ability to resist risks, some credit funds are badly formed, and a large number of loans cannot be recovered, which has dampened the enthusiasm of financial institutions to issue small loans. Third, microfinance companies can't absorb public deposits, but only rely on external capital injection, lacking sustainable sources of funds, which affects the development of microfinance.