Shanghai Pudong Development Bank Co., Ltd. (abbreviated as SPD Bank) was founded on August 28, 1992 with the approval of the People’s Bank of China and started its operation on January 9, 1993. As a nationwide joint-stock commercial bank based in Shanghai, it was listed on the Shanghai Stock Exchange in 1999.
As the first time that OneConnect's small and micro enterprise credit solution has been implemented in a national joint-stock bank, the successful launch of SPD Bank's One Enterprise Lending not only opened up a new way of lending for small and micro enterprises, but also provided commercial banks with innovative small and micro credit service models.
With the upgrading of China's golden tax system, taxpayers will be monitored in all directions, all businesses, and all processes with intelligent methods. Through cross-verification of tax invoice data, tax invoice loans are becoming one of the popular products in many commercial banks to improve the depth and efficiency of inclusive financial services.
Small and micro enterprises generally lack collateral, and are weak in resisting risks, and their financial information are not standardized and transparent enough, which greatly limits their financing channels and the willingness of the financial institutions to issue loans to them. However, the SPD Bank's One Enterprise Lending, which builds a risk control model based on tax invoice data, comes into being as the small and micro enterprises urgently need to resume work and production during the pandemic.
The application of fintech has realized the intensive management of small and micro credit risks that are small in amount, decentralized and conform to the laws of big data, improving the efficiency of risk control while reducing the costs. It is reported that the SPD Bank's One Enterprise Lending, as a popular product of inclusive finance in the digital era, is preferred by small and micro enterprises.
The SPD Bank's One Enterprise Lending product is mainly applicable to small and micro enterprises which are in stable operation. Legal representatives of enterprises and heads of individual businesses can apply for the credit with the maximum amount of 1 million yuan and the minimum loan interest rate of 6.18%.
As the first time that OneConnect's small and micro enterprise credit solution has been implemented in a national joint-stock bank, the successful launch of the SPD Bank's One Enterprise Lending not only opened up a new way of lending for small and micro enterprises, but also provided commercial banks with innovative small and micro credit service models.
Invoice loan products of the SPD Bank are currently a popular choice for SMEs in the bank industry because they do not need mortgage and the procedures are simple and fast. Invoice and tax information can reflect the real operation of enterprises, and can judge the comprehensiveness of enterprise development and changes in business trends. Under the premise of controllable risks, it increases the normal supply of low-interest inclusive funds, and truly solves problems for small and micro enterprises with credit needs.
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