What Are The Conditions For Individual Business Loans?

Individual business loans vary from place to place.

In addition, the larger the loan amount, the more security or mortgage is required.

The general conditions are as follows: the application conditions of the company are as follows: the individual business loan object is the individual business owner who owns the non legal person business license issued by the administrative department for Industry and commerce, the partner of the partner enterprise and the proprietor of the sole proprietorship enterprise.

The borrowers who apply for individual business loans must have the following conditions: 1., with a full civil capacity, under the age of 50.

2., a business license, tax registration certificate and related business license issued by the administrative department for Industry and commerce.

The 3. is engaged in legitimate production and operation activities. The project has the potential for development or market competitiveness, and has the ability to repay the loan principal and interest on time.

4., it has good credit standing, law-abiding, no bad credit and debt records, and can provide mortgage, pledge or guarantee recognized by Societe Generale.

5., there are fixed residence and business premises in the agency.

6., a settlement account is opened in Xingye Bank, and the daily accounts are settled through the industrial bank account.

7. other conditions stipulated by Xingye Bank.

The maximum amount of loans made by 1. individuals is not more than that of the borrower's normal production and operation activities, the purchase (installation or repair) of small equipment (machines and equipment) and the total amount of funds required for franchised chain operations by 70%.

The time limit for 2. people to start a business loan is 2 years, the longest being no more than 3 years, of which the longest loan period is 1 years.

The 3. loan interest rate issued by the people's Bank of China can fluctuate within the prescribed range.

1. the term of a loan that is within one year (including one year) will be repaid at once.

The 2. personal loan for a loan with a term of more than one year can be repaid in the form of equal principal and interest repayment or equivalent principal repayment, or in other ways agreed by both parties.