Wu Changfeng nodded: "What else can I say?"
What do you think of my suggestion?
"sure."
"You agreed so readily?"
Is there a problem?
President Lü said, "We haven't discussed interest yet."
Wu Changfeng remained completely calm: "The state has set the standards; you can't set them too high even if you want to."
In some novels about rebirth, authors write that in the 1990s, banks would beg businesses to lend money, and would even offer interest-free or subsidized loans.
This misled many people who were unaware of the truth, leading many to mistakenly believe it to be true.
It's true that banks are seeking loans from businesses, because banks only make a profit when they receive loans.
However, the claim of interest-free or interest-subsidized loans is pure fabrication by online authors.
Banks rely on interest income to survive; if interest-free or subsidized loans are offered, wouldn't banks lose money?
Given the bank's "no responsibility after leaving the counter" mentality, how could they possibly do business at a loss!
For bank presidents, achieving loan targets is important, but it's not worth operating at a loss just to meet those targets.
Seeing that Wu Changfeng was so cooperative, President Lü said, "Then I won't say anything more. You know, the interest rates are not low now, so be prepared not to be able to pay them back."
Wu Changfeng said, "President Lü, you'd love for me to fail, wouldn't you?"
"Don't say it out loud if you see through it." President Lü also opened up: "To be honest, I really hope you can't pay it back, so we can take your US dollar promissory note. That would be a great achievement for our credit union."
Then, President Lü pushed a contract over to us.
Wu Changfeng looked at it and said: "The interest rate is damn high!"
From 1985 to 1995, mainland banks enjoyed a period of high interest rates.
In 1993, when interest rates were at their highest, the one-year fixed deposit rate even reached 10.98%, comparable to the P2P financial institutions that could abscond at any time in later years.
In 1990, the interest rate for a six-month fixed deposit at banks was 6.12%, while the interest rate for a six-month term working loan was 7.92%.
In other words, if Wu Changfeng borrows 5 million yuan, he will have to repay 5.198 million yuan after six months, of which 198,000 yuan will be interest.
Looking at the staggering interest rate, Wu Changfeng said, "It's high, but it doesn't matter. I'll sign it."
Wu Changfeng then took out a US dollar promissory note and handed it to President Lü.
President Lü said earnestly, "There's really no rush to repay the loan. It's okay if you don't repay it after six months. That's what I said."
"Tch!" Wu Changfeng said, "You underestimate my strength."
President Lü didn't say anything, but simply told Wu Changfeng, "Once the contract is completed, you can withdraw the money from the credit union in Jiangcheng."
Wu Changfeng nodded: "Then thank you, President Lü."
“I have to thank you,” President Lü said. “Whether you repay the loan or not, I’m happy. It’s definitely not a loss.”
“I’m not at a loss either,” Wu Changfeng said with a smile. “President Lü, then I’ll keep you here.”
Leave the credit union.
Wu Changfeng took a deep breath.
I've got the money, even though the interest rate is a bit high.
But it's still acceptable.
At least it can get the land and factories in Jiangcheng running again.
This advance planning must be done well.
Next year, I will be moving to the mainland, which will be an even greater time to need talent.
Wu Changfeng spread his arms and muttered: Who will die by my hand?
That's something to look forward to!
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