The core reason why traditional banks and financial service institutions are reluctant to provide small unsecured loans is that they are concerned about the risk of bad debts.

But this point does not pose much of a problem for Carter.

Carter himself is a member of Yale, and he is the type who can 100% find someone when he comes to collect money. As long as he doesn’t want to die socially in school, who dares to borrow someone’s money from me?!

Will you make a name for yourself at Yale in no time?!

As the so-called elite reserves in American society, they definitely care about reputation far more than the average person. There is no need to cooperate with a school or have card restrictions.

Either pay back the money! Or become famous!

Just putting these two choices in front of others for a few hundred dollars, there's no point in ruining your reputation for it, right?

“How big a demand do you think there is for loans?”

After confirming the risks, Goodman also had some thoughts. But before he made the move, he had to calculate whether it was worthwhile to do so.

"If it were just Yale University, it would indeed not be very big. Even if one in ten people needed a loan, there would only be more than 3,000 customers. On average, a loan of US$300 per person per year would only cost around 900,000.

The income is better, about three hundred thousand."

"Let's do this step by step, that's what I think. This commercial bank itself will definitely still mainly do commercial loans. I will help match those real estate developers later, and the main funds will be used for this. As for small loans, I

It is planned to establish a separate microfinance company, and the commercial bank will only provide financial support to it. The commercial bank itself will not participate in the microfinance business."

"This has two advantages: First, it avoids risks. If there is any problem in the future, it will be the problem of that small loan company. The bank itself only provides funds and is not involved in loan issuance, collection and customer qualifications.

Approval, etc. If something goes wrong, you can abandon the car and save the handsome man. Secondly, because we

We are a small loan company backed by a compliant commercial bank. First of all, in terms of the amount of funds, we can beat many mom-and-pop small loan companies or pawn shops. There is another one that I think will be very attractive.

The advantage is that we can build personal credit files for our customers!”

"The core reason why they face this embarrassing situation is the lack of credit history. It is impossible for ordinary small loan shops to have enough manpower and material resources to fill in and record personal credit files for them. At most, the boss will not pay attention to some regular customers.

I have an impression and know the approximate credit of this person. But that kind of credit situation does not have legal effect. In other words, the so-called credit report of such a small household will need to be carried out in the society after they graduate and join the work.

When it comes to financing, most banks and financial service institutions don’t recognize it.”

"But we are different. We are a serious banking institution, a licensed one! The credit report we issue is as valuable as that of our small loan peers. It is no exaggeration to say that it is as good as in the sky or on the earth. And

When they graduate, they can get a valuable credit report, which is very tempting! It will also be helpful for their job hunting!"

…

"You are saying that the customers of small loan institutions have their credit records in the name of banks. So are they customers of small loan companies or banks?"

In any country with a developed financial industry, credit is the most valuable thing!

Goodman has no doubt that just the fact that a bank can issue a credit report will be enough to attract enough customers for their small loan business. He is just a little hesitant because of the compliance issues.

Didn't you just say that the two are separated? Banks are banks, and small loan companies are small loan companies. Now those loans appear in the bank's records. When problems arise, will your bank be able to escape?

!

"Hey, this is simple. The small loan company borrows money from the bank, right? Suppose that the small loan company borrows money from the bank at an interest rate of 20% every year, and then uses the money to lend its own money. Annualized

A loan with an interest rate of 40% earns the difference. Then there will be a question here, does the bank need to approve this loan? At least, the bank needs to know what the loan is used for, right?"

"Then in the name of loan purpose declaration, the customer's loan information is submitted to the bank, and then the bank files it. Haha, I suddenly look forward to the future!"

Carter licked his lips and suddenly felt the beauty of life:

"As the bank that is most likely to provide them with the first credit report in their lives, when these people see our names again after leaving campus, I hope that more than 70% of them will feel that sense of intimacy and basic trust in the future.

, they are all our customers, you think this shouldn’t be difficult to do, right?”

"Moreover, Yale University is just one. There are Southern Connecticut State and others nearby. If our business model is successfully launched at Yale, there will be a lot of expansion targets in the surrounding area!"

"One school earns 300,000 yuan a year, and ten schools earn 3 million. And there are far more than ten universities nearby!"

When the topic reached this point, it was difficult for Goodman to find another reason to object:

Lilan has a foundation, low risks and a promising future!

If you don’t do this kind of project, what else can you do?!

The next day, two Black Flag employees boarded a plane heading north. Taking the contact information of Judge Clark provided by Carter, they went straight to Connecticut. Bank registration is relatively troublesome. In addition to the state's approval, FdIc also needs to be mixed.

And one hand.

However, usually, the issuance of bank licenses, especially commercial bank licenses, is much simpler than that of savings banks. Although Carter has no acquaintances in Connecticut’s financial regulatory department, as long as the FdIc is dealt with, the state will generally not take too much care.

.Naturally, on Harrison's side, Carter also called

As the saying goes, one person can rise to heaven. With the extremely low bankruptcy costs and merger and acquisition costs in South Georgia, Harrison, the former team leader, also received a certain degree of promotion. Although he was unable to directly intervene in the Connecticut office

Things, but there is still a little bit of face to say hello and let some air pass.

As for Judge Clark’s contact information, this is purely to facilitate the review and approval of various qualifications of microfinance companies. Opening a microfinance company in the United States is more difficult than opening a bank!

Although in Carter's plan, the company will not be involved in the pawn loan business and title n business for the time being, since it is the application stage, there is no loss in applying first.

Then, a large number of license application documents were piled on the heads of the staff:

Precious metal trading license, second-hand goods trading license, automobile and second-hand car trading license, etc., none of them will work without one!

And many of these things need to be reviewed and approved by the Ministry of Justice, especially regarding the compliance review of fund transactions between banks and small loan companies. Can this be done? How should it be done?

Carter needs professional guidance.


Chapter completed!