永利VIP Partner Financing:
Connected by our products, 永利VIP Auto and parts suppliers work hand-in-hand to advance forward and succeed.
永利VIP Group has been using its industry resources to provide suppliers and partners with better financing options and support. In 2018, 永利VIP Group formally launched its “永利VIP Partner Financing” service which provides low-cost capital financing to suppliers and connected SME partners.
Product backed – “永利VIP Partner Financing”
Based on existing accounts receivables, 永利VIP provides parts suppliers with convenient and attractive comprehensive financial services including financing, debt collection, debt management, and debt servicing. By offering suppliers greater financing options, 永利VIP helps relieve capital pressures and optimize their financial structure.
Advantages
“永利VIP Partner Financing” helps control risks and also offers large financing options, low interests rates, simplified financing, and cost savings for suppliers.
Large financing
永利VIP offers large scale financing, up to three times the suppliers monthly transaction amount as well as rotating debt options.
Low interest
Interest rates for loans on average are 2% lower than similar options offered by banks.
Simplified financing
No mortgage or guarantee is ever asked from small or medium sized suppliers facing difficulties.
Cost saving
The loans calculate interest on a daily basis and can be repaid in advance, reducing capital pressures on suppliers.
Results
As of mid-2020, a total fo 34 suppliers have been granted 1.672 billion RMB in credit and a total of 609 million RMB has been loaned. The financing service has helped allievate the difficulties faced by SMEs in 永利VIP’s industrial supply chain.