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RMB Working Capital Loans


 

Introduction

RMB working capital loans are issued to meet customers' short term financing demand during the process of production and operation, thus ensuring the normal running of production and operation activities.

Features

As an efficient and practical means of financing, working capital loan is one of the most popular credit products, characterized by the short loan term, simple procedures, stronger turnover, and lower financing costs.

Category

In terms of the term, it can be divided into short-term working capital loans less than one year and one to three-year medium-term working capital loans;

In terms of the loan form, it can be divided into secured loans, which can be further divided into many forms such as guarantee, mortgage and pledge, and credit loans;

By the using method, it can be divided into the short term working capital loans that is applied and reviewed case by case and the credit line of the working capital loan within which can be easily borrowed, used and repaid during the bank's preset time.

Interest Rate

Subject to borrower credit, loan amount, term, guarantee methods and other factors, interest rate can be adjusted in accordance with the related loan rate policies of People's Bank of China and loan interest rate management regulations of Bank of China.

Term

The maximum term is less than three years. 

Related Charges

Charges are subject to the contract.

Target Customers

Borrowers should be the enterprise (institutions) legal persons, other economic organizations, individual businesses, etc., which are approved to the registered by the industry and commerce administration authorities (or the competent authorities), and with a "business license" issued by the industry and commerce administration authorities;

Application Qualifications

1. Borrowers should be the enterprise, or institution legal persons and other economic organizations whose registrations have been approved by the industry and commerce administration authorities (or the competent authorities), and with the business license issued by the industry and commerce administration authorities and passed the annual inspection;

2. The borrower is subject to the credit rating of the bank, and reaches a certain level of requirements. According to the needs of the assessment, the bank will irregularly adjust the access level, which should refer to the relevant regulations;

3. Borrowing purposes should be in line with national industrial policies and relevant laws and regulations;

4. Borrowers should be with sound business management institutions, qualified leadership and strict business management system; with good business, financial and credit status, with the ability to repay the loan principal and interest on time;

5. With guarantees or mortgage (pledge) security provided by the security unit that is authorized by the bank;

6. Borrowers opened basic accounts or general accounts in Bank of China;

7. Be consistent with other relevant loan policies requirement of Bank of China.

Required Documents

1. Loan application;

2. Certificate of enterprise legal representative or power of attorney, board of directors resolution and the articles of association;

3. Enterprise legal person(corporate) business license (copy) pass annual inspection;

4. Borrowers' last three years audited financial statements of the past three years and the recent financial statements;

5. Loan card;

6. Other documents and certificates required by Bank of China.

Process

1. The applicant contacts the business department of Bank of China, files the loan application and provides the above materials;

2. Bank reviews the borrowers' application materials;

3. After approved borrower's two parties sign the RMB Working Capital Loan Agreement and other related text of the agreement (such as guarantee contracts, mortgage contracts and pledge contracts, etc.);

4. The borrowers open loan accounts in the Bank of China and withdraw the loans.            

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