Banks decline to lend to small developers as the due diligence takes too much time
Thu, Aug 20, 2015 - 5:50 AM
Kong Sun Holdings Ltd headed online and got a finance-lease credit line. The one billion yuan (S$219.6 million) loan from the Internet investment platform called Solarbao.com covered a 10-megawatt unit.
PHOTO: ST FILE
WHEN Kong Sun Holdings Ltd went looking for money to build a small-scale solar-power plant in Inner Mongolia, large banks weren't interested.
The Hong Kong-listed developer of solar projects instead headed online and got a finance-lease credit line. The one billion yuan (S$...