Personal Banking

Business Express Quick Loan

Introduction to Functions    Product Features    User Guide

[Introduction to Functions] 

Busienss Express Quick Loan refers to IB's ability to quickly verify the basic credit line for Busienss Express customers according to their situation, including industrial experience, assets strength and operation capacity. The main assessment indexes are business settlement volume and precipitation of settled deposits. 

[Product Features]

• The application procedure is simple and convenient; 

• Fast loan assessement and approval: With complete materials, the assessement and approval can be completed within two business days. 

[User Guide]

• Application requirements

Busienss Express Quick Loan is aimed at the group of growing business owners who handle acquiring business or open personal settlement accounts (or corporate settlement account) and use the account to transact payment and settlement business such as collections and payments. 

1. A business entity has been established or a borrower has operated normally over three years (including three years).

2. A borrower has real-estate within the business jurisdiction of the branch. 

3. A borrower and his or her business entity have a sound credit rating.

4. A settlement statement of a valid settlement account (over six months) recognized by IB can be provided.

5. Other requirements specified by IB. 

• Credit line, tenure and interest rate 

1. Credit line: Will be determined by considering a number of factors including the credit rating of the borrower, the average daily amount of settled deposits and average monthly settlement amount of the valid settlement account in the latest six months, etc. 

2. Loan tenure: The credit extension may be upto three years, but a single loan may not exceed one year in principle. 

3. Loan interest rate: Follows the benchmark interest rate for the corresponding term and the corresponding bracket as announced by the PBC and the responsive floating ratio. 

• Method of repayment

1. If the loan tenure is less than one year (including one year), both the principal and interest can be repaid in a one-lump sum upon maturity or interest may be paid each month (quarter) and the principal is repaid in a lump sum. 

2. If the loan tenure is more than one year, the principal and interest may be repaid monthly or via another method of repayment approved by IB.

• Application materials 

1. Identity certificate and marriage certificate (or an unmarried status announcement) of the borrower and his or her spouse.

2. Business license with annual audit record.

3. Settlement account details of the business entity covering the latest six months, income certificate or assets certificate of the borrower. 

4. Relevant agreement or contract on the loan purposes, or other certificates.

5. Other materials required by IB.

 (The above information is for reference only and specific handling requirements are subject to the provisions of local IB branches. Please consult your local IB outlet for details before going through relevant application procedures.)