About the product

Cloud Trade Finance Service refers to the operational foreign currency loan business approved online by the Bank to support the production and operation turnover of export-oriented enterprises, based on the export tax rebate data and business operation data of export-oriented enterprises, combined with external data such as taxation and credit information as risk control measures.

Product features

1. No mortgage is required, and the approval speed is fast.

2. Online approval reduces the time cost.

3. Online banking loan and repayment, borrowing and paying back at any time.

Application

Export-oriented small and micro enterprises short of liquidity.

Rate

No handling fee is charged. The financing interest rate is subject to the domestic and foreign currency trade financing interest rate of the Bank. The guarantee fee (if any) is charged.

Handling process

1. The customer (who must be the legal person of an enterprise) can apply for Yunmao Loan through WeChat official account of "Chouzhou Commercial Bank’s Micro Bank", and the system will give the initially approved quota and interest rate.

2. The customer manager of the Bank will come and sign the relevant materials, and then the system will conduct secondary approval to generate the quota and interest rate.

3. If the generated quota and interest rate meet the customer's needs, the customer can open an account and online banking at an outlet of the Bank and sign a contract.

4. After the customer manager inputs the additional information at the background and releases the loan, the customer can conduct such operations as withdrawal, repayment, foreign exchange settlement and payment management through online banking.

Case

Export-oriented small and micro enterprise A is short of working capital and has no assets on hand as collateral. The legal person of the enterprise wants to supplement its liquidity gap with the Yunmao Loan product of the Bank. Through WeChat official account of "Chouzhou Commercial Bank’s Micro Bank", he applier for the product, and the system of the Bank approved a quota of USD 150,000 with an interest rate of 3.0%. The legal person said that both the quota and the interest rate met the demand. After the customer manager of the Bank contacted him and the customer signed the relevant information, the system conducted secondary review and approved the quota of USD 120,000 with an interest rate of 3.0%. After opening an account and online banking and signing a contract at an outlet of the Bank, the customer withdrew USD 120,000 on the same day, and settled foreign exchange to purchase raw materials to supplement the working capital. Half a year later, the legal person received USD 150,000, and paid off the loan of USD 120,000 through online banking.