Wenzhou new rule: livestock mortgageRecently, in order to better supporting agriculture, peasants, and Wenzhou municipal party Committee, the municipal government issued a circular on promoting the implementation of livestock mortgage loan rules in order to promote livestock mortgage loans, individual small farmers and commercial households need funds to flow.
requirement of the scheme, provision of livestock mortgage credit refers to credit applicants themselves or a third person legally own pigs, cattle, livestock and poultry, live as collateral, to banking and financial institutions, capital mutual aid organizations, rural insurance unions, microfinance companies, apply for credit. With implementation of the scheme, the city's livestock mortgage loan amounts are determined: generally does not exceed assets assessment of 80%.
under way, livestock can be used as collateral, including pigs (fattening pigs, breeding sows), cattle (dairy and beef cattle) and the existence of a certain amount of breeding livestock and poultry in livestock and poultry farms. Based on different pricing by unit of livestock and poultry; price values for the last 3 years the average market price and a recent 3-month average market price, whichever is lower, to determine collateral value of livestock.