Folk financing is pointed out between human resources and human capital, outside the national statutory financial institutions, in order to obtain the high interest and obtain funds use rights and agreed to pay interest for the purpose of the private lending, private bills financing, folk have securities financing and social fund-raising and other form of temporary change fund ownership of financial behavior.
The status quo and characteristics of private financing,
Statistics show that in recent years, private financing has four characteristics:
One is the financing scale unprecedented growth rapidly, financing activities more and more open and semi open. Private financing has gradually been recognized by the public, regulators from the strict control of the sidelines and turn acquiescence attitude, showing the public and semi public private financing status. The two is the main financing of small and medium-sized enterprises more and more of the folk financing enthusiasm is high, the high participation in working capital tense, private financing has become the preferred financing. Three is the use of private financing in the investment and management, the purpose of financing is gradually to profit by the self transformation. Four is the period of civil financing has become increasingly flexible, the interest rate of financing more rational. The general is a predetermined loan for a period of one year, whether to renew again after the expiration of the wishes of both parties according to the financing decision. Due to the increase in the idle funds in the society in recent years, most of the time is after the end of period continue to leave the integration of those are used to form short and lend long.
　　Two, the current legal regulation of private financing
Generally speaking, financing is a financial concept, it means to raise funds or absorb funds. According to their different ways, can be divided into debt and equity investment. Financing subject can be a natural person, also can be a unit. Private financing is mainly a kind of financing behavior between private individuals. Since the reform and opening up, the financing behavior in many regions, showing the development momentum of the steel supply and demand. And in contrast to this, the non-public economy from the financial sector to obtain financial support is minimal. On the other hand, for individuals, due to the narrow investment channels, the bank cut interest rates so that residents of individuals in order to seek a higher return on investment, the formation of the supply of private lending funds. In real life, there are no outside almost the following kinds of financing methods.
(1) debt and debt
1, the loan contract between the natural person. The loan contract is divided into two categories: one category is the commercial bank for the lender's commercial loan contract, one kind is the natural person and the natural person's folk loan contract. The former is a commercial contract, the latter is a civil contract. Lending between natural persons, of course, is legitimate, it is a mutual cooperation behavior, is in line with the requirements of the civil law, is urban and rural residents to solve an effective behavior of production and living demand for funds. In general, the natural person between the lending is free, and the agreed interest shall not exceed the maximum limit. According to the current judicial interpretation, the maximum amount shall not exceed 4 times the rate for similar loans; excess, the excess part of the invalid. In addition, the loan contract between natural persons prohibited compounding, namely "Glutinous Rice Rolls with Sweet Bean Flour".
2, financial intermediation between natural person and unit. Natural person to financing units can be subdivided into public and private lending lending two. The former is ubiquitous in the real life, its legitimacy is undoubtedly, it is practical operation and legal feasibility, which is allowed by the financial system. Because private will be due to the nature of the different units and different form of crime, committed different crimes. If non state owned units, constitutes a "criminal law" Article 272 embezzlement crime, namely, companies, enterprises or other units of staff, taking advantage of his position, misappropriation of the funds belong to personal use or lending to others, the amount of larger, more than three months yet, or although not more than three months, but the amount is large, for-profit activities or illegal activities. If the state-owned units constitute the crime of corruption "article 382 of the criminal law". At this point there is not much doubt, its behavior is not only a violation of the financial system, and in serious cases will violate the law. That is a natural person regardless of financing to the unit or other units, either for legal or illegal purposes, as long as it is for private, negative evaluation will be because of embezzlement by legal form.
3, to bank financing, which is to solve the funding gap of enterprise norm. But in the present circumstances, due to the commercial banks in loans held by "Shen loan" and "credit crunch" attitude, loans have become a self-evident long-standing problem. Although legal, but in the growth stage of the small and medium-sized enterprises should take this as the main means of financing, is clearly a fantasy move.
4, to the financing behavior of individual units. As for the enterprise legal persons and other organizations and the nature of the loan contract is prohibited by law, be regarded as invalid contract.
5, financial intermediation between units and units. From the point of view of finance, financing behavior between units that surplus units (lender of last resort) directly to the funds for loans to deficit units (the borrower) use, during which do not need to go through the financing of the financial intermediaries. This kind of financing can be timely and flexibly and effectively adjust surplus and deficiency of funds, so as to optimize the allocation of resources, promote the development of society is fast and efficient. But in China's current law, no matter what kind of financing have been negative evaluation of the law. In a series of judicial interpretation in China promulgated, a joint venture is borrowing behavior because of evasion of law and void.
(two) equity financing type
Equity financing as a way of folk financing, we need to emphasize its financing capacity, at the same time should also be emphasized the role in optimizing the allocation of resources, if we can not guarantee the stock funds flow to the advantages and benefits of enterprise project, is the waste of social resources, is the infringement of the interests of investors is the function of stock market distorted. However, from the current actual situation of our country, great resistance and difficulties, especially the small and medium-sized enterprises to absorb the funds through equity financing, legal and institutional barriers to many.
If you want to learn more about the folk financing knowledge, editorial recommendation:
Folk financing
Private credit and private financing
Folk financing problems