First, the conditions for importing bills of exchange are relatively high. For example, the condition of Bank of Communications is that "the applicant who has opened a letter of credit in our company has all the documents under the letter of credit, and it has been verified by our company that it meets the requirements of the letter of credit and must pay externally."

Some banks are more detailed:

1. The enterprise shall have an independent legal person qualification, have a good business style, and have no bad records such as violation of rules, laws and breach of contract;

2. The enterprise must open a foreign exchange or RMB basic deposit account or current account in the bank, maintain regular settlement and have a good reputation;

3, the enterprise should have a complete financial management system and production and sales network, imported goods have normal and reasonable sales channels and reliable sources of funds, and can repay the advance payment of the bank on schedule;

4. The enterprise is in good financial condition and has short-term solvency. When necessary, the enterprise shall provide the bank with an approved loan guarantee or mortgage.

The RMB loan business is relatively extensive, the conditions are relatively low, and the procedures are not complicated.

Secondly, in terms of term, the term of import bill is relatively short, as you know, the longest is three months, while RMB loans are different and take a long time. Relatively speaking, you have more room for capital turnover.

The third reason is that interest rates are different, and the interest rates of imported bills vary greatly among banks. For example, under the monthly floating category (US dollars only), China Agricultural Bank is 4.2500, and China Bank is 8. 1250. The interest rate gap of RMB loans is relatively small, and the overall level is low. For example, the rate of China Bank is 5.22(6 months), which is far lower than 8. 1250 of the loan from China Bank's Exchange Fund.

But it's inconvenient for you to convert RMB into foreign exchange after the loan, but it's definitely worth it compared with the high foreign exchange interest rate.

You should have no problem with the formula. Know the term, know the principal, know the interest rate, and multiply it.