SHANGHAI, Mar 1 (SMM) – Some aluminium processing companies in Henan province and Chengdu face higher capital costs of 1-2% in April as they turn to personal loans to obtain financing, SMM learned.
This was a result of Chinese banks raising interest rates on loans after 2014, thereby making it more difficult for enterprises to obtain loans. Interest rates of loans are estimated at 8-9% in April 2018.
Other than personal loans, some companies have opted for funds in the form of receivable financing from supply chain financing companies.
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