About the product
Cross-border e-commerce "E-Financing" - cross-border e-commerce domestic foreign exchange loan refers to the working capital loan in foreign currency that the Bank issues for qualified domestic merchants engaged in export transactions on cross-border e-commerce platforms. Domestic merchants include domestic enterprises and individual industrial and commercial entities.
Product features
Data-based: as long as customers have more than one year (inclusive) of experience in cross-border e-commerce (subject to the time of registration of the store on the platform), they can apply for a loan.
Multi-platform: support all cross-border e-commerce sellers who sell goods on mainstream international e-commerce platforms.
High quota: the maximum quota shall not exceed 50% of the withdrawal amount of the borrower's (actually controlled) store in the past six months.
Simple procedures: choose self-service circular loan to borrow and pay back at any time, which is easy and convenient.
Flexible: diversified guarantee methods.
Application
Applicable to all cross-border e-commerce sellers who sell goods on international e-commerce platforms such as Amazon, eBay, AliExpress, Wish, etc.
Rate
The financing interest rate is subject to the domestic and foreign currency trade financing interest rate of the Bank.
Handling process
1. Customers provide their basic loan materials and the information of their stores on cross-border e-commerce platforms (actually controlled) to the Bank, including but not limited to store registration, transaction details, withdrawal records, return rate, etc.
2. After conducting data review and due diligence, the account manager of the Bank contacts the customer for contract signing and account opening.
3. After the loan is approved, the Bank releases the loan to the customer's account, and the customer can decide whether to settle foreign exchange or pay according to his own needs.
Case
Customer A is the owner of an individual industrial and commercial entity in Yiwu, mainly engaged in Ebay, Amazon and other e-commerce platforms. Due to the need of business expansion, the customer needed financing. But he had a large funding gap, so he applied to the Bank for "Yirongzi". It took only 10 days from May 2021 when the Bank received the information submitted by the company, to the completion of credit approval and the issuance of the loan, which resolved the urgent need of the customer. The final financing amount was $300,000, the interest rate was set at 3.20%, and the term was 90 days.
