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Chapter 193: A Massive Loan
Chapter 193: A Massive Loan
While the Deng family was busy with the birth of their third generation, two significant events took place in Bobai County.
First, in the educational reforms that began in September, all high schools in the county reverted to the "three-three system," and the number of ordinary high schools was drastically reduced. The county's 23 high schools were cut to 11, and the 282 junior high schools were reduced to 121. Over half of the middle schools in the county were thus erased from history.
Among the schools cut was Naye Junior High School. By the end of this semester, Naye would only have an elementary school, with no junior high school left.
This meant that from the next semester onward, Deng Yunzhu and Deng Yunsong, the brother and sister, would have to travel to Shuangwang to attend junior high school.
Second, the county committee held a three-level meeting involving county, commune, and brigade officials to deploy the "contracting to groups," "contracting to households," and "contracting all tasks to households" production responsibility system. This marked the end of the production team era.
The Naye production team also conducted its final land distribution, dividing the remaining small plots of paddy fields and hillside land among the members.
The birth of Xiaodong'er coincided with this last distribution, and the family received a small piece of hillside land, which made everyone quite happy.
Though Naye Village, nestled in the mountains, had no chance of being demolished in either the present or the future, and the land itself wasn't worth much, land has always been the root of rural life. Even in the future, countless rural people fought bitterly over small plots of land, sometimes at the cost of their lives and those of their families.
...
Shuangwang Credit Union.
Director Bu Wanhui was in an excellent mood. At the beginning of the year, to adjust and stabilize the national economy and concentrate financial resources for socialist construction, the state decided to issue 4 billion yuan in treasury bonds. The higher-ups assigned Bobai County a target of 215,000 yuan in treasury bonds to sell.
Thanks to Bu Wanhui's outstanding performance as the director of this small credit union, he was hailed as a model figure by the higher-ups. This inspired other groups to follow suit, and the county completed its assigned task ahead of schedule, much to the delight of the county leadership.
As a model figure, Bu Wanhui naturally received significant benefits. His transfer to work in the county was already arranged, and he would take up his new post in the spring of the following year.
For a middle-aged man, a career promotion was certainly a cause for celebration.
Just then, a customer walked into the credit union.
Bu Wanhui looked up and greeted the visitor with a broad smile, "Uncle Jiu!"
Deng Shirong smiled and replied, "Director, I could see the glow on your face from afar. It looks like you've encountered a great joy!"
Bu Wanhui laughed, "Thanks to your good fortune, my work has been going smoothly recently. But I see Uncle Jiu is also radiating happiness. It seems the great joy is on your side."
Deng Shirong didn't deny it and chuckled, "Indeed, I've had some good news. I became a grandfather a fortnight ago. I'm here today to invite you to my granddaughter's full moon celebration on November 17th. I also need to consult you about a loan."
Bu Wanhui immediately congratulated him and, knowing that Deng had a loan to discuss, invited him to the office.
Once they were seated in the office and exchanged a few pleasantries, they got down to business.
Deng Shirong came straight to the point, "Director, here's the situation. Next year, I plan to start a business in the county and need a substantial loan, possibly in the hundreds of thousands. Can your credit union handle it?"
When Bu Wanhui heard this, he couldn't help but be taken aback. In this era, loans of several hundred thousand yuan were generally only used by state-owned or collective enterprises. For an individual to request such a large loan was unheard of, not just in their local credit union but even across the entire county, city, or province.
Despite his shock, Bu Wanhui couldn't help but feel excited. If he managed to secure this loan, the benefits would be undeniable.
To understand the situation, one must know the difference between the credit system of this era and the future.
In the future, due to increasingly strict bank regulations, all loans had to be processed strictly according to rules. Even a loan of just a few thousand yuan would be impossible to approve without the proper documentation.
However, in this era, credit management was so lax that it would make people from the future gape in disbelief. Loans required no collateral, no interest, and there were numerous loopholes in the approval process. To put it bluntly, the money borrowed from the bank was almost like free money.
Indeed, many bold individuals in this era had already tasted the sweet rewards of such a lax system. Specific details aren't necessary, as those who understand will know.
In short, if anyone from the future had the chance to be reborn in this era, they wouldn't have to worry about starting capital for their business, because loans were so easy to obtain.
This was why Deng Shirong, having experienced the future, wasn't in a rush to earn starting capital. In the most frenzied period of lending, bank credit officers were practically begging people to take out loans to meet their targets.
As long as you were willing to borrow, the bank was willing to approve it. Loans in this era were that easy.
Despite the enormity of Deng Shirong's loan request, Bu Wanhui was confident he could handle it. He asked excitedly, "Uncle Jiu, with so much money, what business do you plan to start in the county town?"
Deng Shirong smiled and said, "I plan to open a restaurant."
Bu Wanhui nodded and replied, "Uncle Jiu, based on my understanding, this loan shouldn't be difficult to secure. If you want to proceed now, I can help you with the paperwork. But if you wait until next year, I might already be working in the county town."
Deng Shirong realized that Bu Wanhui was about to be promoted and quickly congratulated him.
He then said, "Alright, since you're available now, let's go ahead and handle it!" After all, there was no interest to worry about, so there was no harm in getting it done early.
Bu Wanhui nodded and asked, "Uncle Jiu, how much exactly do you want to borrow?"
Deng Shirong thought for a moment and said, "Let's go with eight hundred thousand yuan."
Hearing this amount, even Bu Wanhui, who dealt with money every day as the credit union director, had to admire Uncle Jiu's boldness. He gave a thumbs-up and said, "Uncle Jiu, you really have the guts. Eight hundred thousand it is, I'll do my best to get this loan approved for you."
Deng Shirong smiled and said, "Thank you, Director, for your help!"
Bu Wanhui waved his hand with a smile, "Uncle Jiu, you're too kind. It's not just me helping you; you're helping me too!"
After exchanging pleasantries, they began filling out the necessary loan documents.
It must be said that the loan procedures in this era were indeed much simpler compared to the future. In less than half an hour, Deng Shirong had filled out all the required forms.
(End of Chapter)
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