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China Construction Bank partners DHgate to offer online microloans for SMEs

Posted by: pprpipe on: July 5, 2010

China Construction Bank partners DHgate to offer online microloans for SMEs

The “eMicro” network of credit products leverages DHgate.com’s transactional data to evaluate a business’s order opportunities, rather than relying on traditional credit criteria. The new scheme not only lowers the entry barrier for SMEs and provides incentives to improve their quality and service for the international market, it also gives international buyers a wider variety of product options.

“We are very pleased to partner with China Construction Bank to provide microloans, which are essential to online business growth. For the majority of DHgate.com’s SME suppliers, this will undoubtedly help drive business innovation, benefitting our larger international community. This microloan program has a very real social impact,” said DHgate.com’s CEO Diane Wang.

Opening Opportunities through Online Microloans

SMEs across the worl cheap handbags often fail to meet conditions that banks traditionally require for successful loan applications. As their champion, DHgate.com is continually developing services which support their progression, both in China and around the world.

In this initial phase, registered suppliers on DHgate.com will be eligible to apply for the “eMicro” finance products; products which use more practical criteria to assess credit worthiness and control risk. DHgate.com will be able to facilitate the loans by accumulating application submissions to CCB, analyzing sellers’ transactional data and credit records, and china wholesale working with CCB’s online credit check systems.

The traditional fixed costs of processing loans of any size and term is considerable. The “eMicro” network of products will match international export-oriented SMEs with faster access to financing. Under this pioneering line of microloan products, transactions will take place completely online. Resources needed to process loans will be minimized and funds will be credited into sellers’ accounts in real-time.

“Internet banking is the foundation gucci bags through which we provide customers full access off our online financial services operation platform. This breakthrough reduces the risk of bank credit for SMEs, and staff concerns about higher transaction costs,” said CCB’s Wholesale Business Director Gu Jing Pu.

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