What is Fincera’s business?
Fincera Inc. (fka.AutoChina International) is a leading provider of innovative web-based financing and ecommerce services for small and medium-sized businesses and individuals in China. Our portfolio of services includes small business lending, B2B payment solutions, and ecommerce platforms. We currently operate four online platforms: CeraPay ® (垫付宝), a B2B payment platform, CeraVest ® (轻易贷), a small business lending platform, TruShip TM (1号车网), an ecommerce and shipping marketplace platform, and AutoChekk TM (车快快), an ecommerce platform focused on passenger cars.
When was Fincera founded and where is it incorporated?
Our operating subsidiary was founded in 2005 and is incorporated in the Cayman Islands .
Where is Fincera's corporate headquarters located?
Our corporate headquarters is located in Shijiazhuang , the capital of Hebei province in northern China.
What is the origin of Fincera's financing solutions?
Although Fincera has only been providing financing services since March 2008, our founder, Mr. Yong Hui Li, was the first to bring commercial truck leasing to China in 1994. Thus, Fincera’s current expanded offerings for financing small business across China represent the culmination of thought and experience from the past 20 years.
Who are your customers?
Most of our customers are primarily individuals or small business service providers in China.
How do you control the credit risk of your customers?
We have a large offline collections team and utilize standardized legal processes as well as transaction data from CeraPay to verify our customers’ use of funds. We also utilize third-party credit data for fraud prevention, and in-person screening continues to be a key part of our initial screening process. Customers are highly incentivized to perform as we are providing them a rare affordable financing channel that helps them grow their businesses, which support their livelihood.
Is there any precedent for Fincera's business model?
In China, we are relatively unique. However, there are case studies in other countries. For example, U.S.-based companies like WEX (est. 1983) and Fleetcor (est. 2000) have been providing payment processing and information management services to the global commercial and government vehicle fleet industry. Companies like Kabbage and OnDeck provide small business loans via online platforms and simple, easy-to-navigate application processes. With its expansive geography and ongoing economic development, we believe Fincera can flourish in China, which has a much larger transportation market than the U.S., Europe, or anywhere else in the world.
Where is Fincera's common stock traded? What is the company's ticker symbol?
Our common stock is quoted on the OTCQB venture stage marketplace under the ticker symbol AUTCF.
When did Fincera have its initial public offering?
Our predecessor company, Spring Creek Acquisition Corp., completed its initial public offering in March 2008. We merged with Spring Creek in April 2009.
When does Fincera's fiscal year end?
Our fiscal year ends on Dec. 31 of each year.