Description

An RMB loan to finance working capital, or to finance the purchase, installment or repairs of small-size equipments, or the opening of franchise chain store.

Handling Guide

Requirements on Applicant

Eligible applicants are owners of privately or individually-owned business, partners of partnership enterprises and owners of sole proprietorship enterprise with non-legal person business license issued and ratified by the administrative departments of industry and commerce, who shall also meet the following requirements:

•  Be a natural person with full civil capacity, aging below 50;

•  Hold the business license issued and ratified by the administrative departments of industry and commerce, certificate of tax registration and related industry permits;

•  Be engaged in legitimate production and operation, whose nominated project has the development potential and market competitiveness;

•  Be creditworthy and can offer mortgage, pledge or guarantee acknowledged by the bank;

•  Owe fixed residence and operational sites in the city of the handling bank;

•  Have settlement account with the bank to make day-to-day settlement;

•  Meet other requirements prescribed by the bank.

Line, Period and Rate

•  Credit line : Up to 70% of the funds in need.

•  Credit Period: 2 years in general and no more than 3 years, whereas the period of working capital loan will be restricted within 1 year.

•  Loan Rate: Quoted from the PBOC and can be floated within the range preset by the PBOC.

Repayment

•  For loans within 1 year, the loan will be paid back on a one-off basis upon due.

•  For the loans with period beyond 1 year, the repayment mode is negotiable in accordance with relevant regulations of the bank.