Recently, Mingyu Ceramic, a company in Zibo stated that they would offer Guaranteed Loan to cooperative companies, which started a heated discussion on the limit and period of the loan. In response , OEM companies said that they hoped the manufacturers could provide more services in such a severe market.
Zhang told the journalist that construction of this platform would be carried out in three steps：
First, Mingyu Ceramic will submit the materials for platform establishment and credit application, then the financial platform will be established and the risk assessment will be made.
Second, Mingyu Ceramic will provide the application materials of cooperative brands, after these brands pass the assessment, they will obtain a credit line, only for purchasing products of Mingyu.
Third, if the brands need loan for purchasing, they can place an order on the trading platform, paying by credit line. Mingyu will make a deliver as soon as they receive the loan. The brands shall return the loan in 1 to 3 months.
Besides, this insider of Mingyu introduced 3 advantages of this platform:
1. Helping customers to speed up capital flow and solving the problem of financial shortage;
2. Reducing the complicated procedures of payment and reducing the review time;
3. Mingyu establish the platform as a guarantee, with such a professional platform, the risk could be lower.
As far as we know, there are 3 OEM companies who have signed a cooperation agreement with Mingyu Ceramics and officially awarded the license. In 2019, Mingyu will open a loan window to more cooperative enterprises.