Geely Partner Financing:
Connected by our products, Geely Auto and parts suppliers work hand-in-hand to advance forward and succeed.
Geely Group has been using its industry resources to provide suppliers and partners with better financing options and support. In 2018, Geely Group formally launched its “Geely Partner Financing” service which provides low-cost capital financing to suppliers and connected SME partners.
Product backed – “Geely Partner Financing”
Based on existing accounts receivables, Geely provides parts suppliers with convenient and attractive comprehensive financial services including financing, debt collection, debt management, and debt servicing. By offering suppliers greater financing options, Geely helps relieve capital pressures and optimize their financial structure.
“Geely Partner Financing” helps control risks and also offers large financing options, low interests rates, simplified financing, and cost savings for suppliers.
Geely offers large scale financing, up to three times the suppliers monthly transaction amount as well as rotating debt options.
Interest rates for loans on average are 2% lower than similar options offered by banks.
No mortgage or guarantee is ever asked from small or medium sized suppliers facing difficulties.
The loans calculate interest on a daily basis and can be repaid in advance, reducing capital pressures on suppliers.
As of mid-2020, a total fo 34 suppliers have been granted 1.672 billion RMB in credit and a total of 609 million RMB has been loaned. The financing service has helped allievate the difficulties faced by SMEs in Geely’s industrial supply chain.