1At the end of 974, Yunus, the Nobel Peace Prize winner, conducted a survey in the countryside and found that the poor could not borrow money and were oppressed by businessmen. Yunus felt that people's livelihood was difficult, so he founded Grameen Bank to provide small unsecured loans to the poor. Grameen Bank's early funds came from social relief charitable funds, and most of the borrowers were rural women. It can be seen from here that the original prototype was used by charities to help the poor develop. Later, the relevant platforms in the United States saw the P2P model in which benefits began to develop in the United States. The American P2P platform was born out of Grammy Bank and developed with the help of the Internet. Banks give money to borrowers, but they transfer their creditor's rights to P2P platform, but they don't want to bear similar risks, so they resell the creditor's rights certificates to investors (note that they are distributed to investors), and investors provide funds to set up unsecured creditors on P2P platform. The borrower automatically repays the loan to the platform through the bank account as agreed, and then the platform transfers the proceeds to the investor. When the loan released by the lender defaults, neither the bank nor the platform will bear the risk of loan default, nor will it compensate the investors accordingly. So what we can see is that this P2P platform in the United States is an intermediary between investors and borrowers, and both parties in society match the needs of investment and borrowing, and do not provide financing guarantee services.
A few years later, P2P came to China. At the beginning, the P2P model was also used as an intermediary between investors and borrowers to match the investment and borrowing needs of both parties. But at present, P2P has been unrecognizable. P2P has been in the hollow area of supervision for a long time in China, and there is no clear definition and no clear regulations. It was not until the Interim Measures for the Management of Business Activities of Information Intermediaries in Personal-to-Personal Lending was promulgated on August 24th, 20 16 that the definition of P2P became clear. This document from P2P platform is to provide direct lending information collection, collation, online publishing, credit evaluation, credit matching, financing information, online dispute resolution and other related services for both borrowers and lenders, so as to realize the isolated management of self-owned funds and borrowers, that is, it is characterized as an information intermediary in peer-to-peer lending, providing lending information for investors, and the funds are deposited and distributed through banks. Therefore, we should clearly see that if we borrow money from the P2P platform, we should know that the money we borrow is not from the platform itself, which means that the platform is not qualified to lend us money, and our money comes from every investor.
Next, talk about cash loans. There was a routine loan at the previous 3 15 party, which was called cash loan. The state cracked down on routine loans and cash loans. 20 16 12 1 the office of the leading group for special rectification of internet financial risks officially issued a notice on standardizing and rectifying the cash loan business. The circular said that cash loans have the following characteristics: first, there is no scene to rely on, second, there is no designated use, and third, there is no mortgage. In other words, we can understand it as an unsecured credit loan with small loan amount, short term and uncertain use. Let's talk about what is the support of the scene. We often buy big items, such as home appliances and computers. Will salesmen often ask us to pay by installment? This one has a shopping scene, but the cash loan has no shopping scene, so it has no designated purpose. I don't know where you spend the money.
Later, the customer acquisition cost of P2P platform remained high, and the funds of online small loan companies were limited. The two sides hit it off, and small loan companies searched for borrowers and gave the loan information to P2P platform. In this way, P2P and cash loans are combined, so most of the products we come into contact with are from P2P platform at first. However, due to the high proportion of bad debts and the constant negative behavior of violent collection, the development model has stopped, that is, the cooperation model between P2P and cash loans has stopped.
Moreover, the central government issued a document to strengthen the audit and management of the sources of funds of small loan companies, and prohibited the integration of funds through peer-to-peer lending information centers. What we can know at present is that P2P has nothing to do with cash loans.
Finally, talk about online small loans. In 2008, the People's Bank of China and the China Banking Regulatory Commission issued the Guiding Opinions on the Pilot Project of Small Loan Companies, which clarified the nature of small loan companies. A limited liability company or joint stock limited company established by natural persons, enterprise legal persons and other social organizations that does not absorb public deposits to operate micro-loan business is funded by capital, donated funds paid by shareholders, and integrated funds from no more than two banking financial institutions, so we can see that this is obviously different from P2P.
Micro-loan companies mainly obtain borrowers through online platforms, evaluate the credit risk of borrowers through online consumption, transaction and other behavioral data and scenario information analysis, determine the credit granting method and amount, and complete the micro-loan business in the whole process of loan application risk review, loan approval, loan issuance and loan recovery online.
Finally, make a summary. Are there essential differences among P2P, cash loans and online small loans? P2P is an information intermediary in peer-to-peer lending. Online small loans are obtained from customers through online platforms, while cash loans refer to small, short-term unsecured credit loans with uncertain uses.
And the specific differences, we will talk about in the next article.