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房地产开发行业属于资金密集型行业,融资业务是地产企业在开发过程中的重要内容。但对于很多中小房地产开发企业而言,由于自身实力、资质有限,加之国家近年来加大了对房地产市场的宏观调控,其通过资本市场直接融资或从银行直接取得开发贷款非常困难,因此信托融资成为了很多中小房地产企业融资的重要渠道。相对于比较直接的信托贷款融资而言,由于要受到开发企业项目资本金比例不低于30%和必须取得“房地产四证”的条件限制,很多企业在信托融资模式中采用了“假股权、真债权”的信托方式。虽然这种信托融资模式解决了房地产
Real estate development industry is capital-intensive industries, financing business is an important part of the real estate business in the development process. However, for many small and medium-sized real estate development enterprises, due to their own strength and limited qualifications, coupled with the state’s macro-control over the real estate market in recent years, it is very difficult for them to directly finance their loans through the capital market or directly obtain loans for development from the banks. Therefore, Become a lot of small and medium-sized real estate financing an important channel. Relative to the more direct trust loan financing, due to be subject to the project capital ratio of not less than 30% and must obtain “real estate four cards” conditions, many companies in the trust financing model used “ Fake equity, real debt ”trust. Although this model of trust financing solved the real estate