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Personal Investment and Business Loan


 

Name

Personal Investment and Business Loan

Introduction

Personal Investment and Business Loan is issued by Bank of China to provide customers with needed funds during investment and business operations for their capital turnover.

I. Loan Quota

The minimum of personal investment and business loans is RMB 30,000, and the maximum should not exceed RMB 3 million.

II. Loan Term

The term of personal investment and business loans may not exceed five years (five years included).

III. Required documents are as follows:

1. Qualification certifications, such as ID Card, Hukou book or other valid residence cards, business license, etc.;

2. Certification for loan purposes, such as purchases and sales contract, etc.;

3. Financial statements (or business income proof), tax payment form and other certificates of loan repayment capacity of the enterprise;

4. Certifications needed for guarantee. For mortgage (pledge) guarantee, the following certifications are required: the list of mortgage (pledge) items, ownership certificate, certificate of value, and certification of mortgage (pledge) agreement from the person with disposal rights. For credit guarantee, required certifications are guarantor's agreement on fulfilling the joint liability, and relevant credibility certificates;

5. Proofs of permanent job and stable income;

6. Loan Application Form (covering the debtor's resume, work performances, Investment Feasibility Report, repayment source, guarantee status, amount and term of the applied loans);

7. Certification of self-owned funds accounting for no less than 30% of the total investment amount, or payment certificate;

8. Other documents required by Bank of China.

The documents provided by the borrower customers shall be authentic and legal.

IV. Loan Guarantee

Before signing the loan contract, you are required to provide Bank of China with property mortgage, pledge or irrevocable joint liability guarantee from the third party, which is identified by Bank of China; and the guarantor must sign the contract of guarantee in written form.

A. For mortgage loans, the mortgage must be in compliance with relevant provisions in the Guarantee Law of the People's Republic of China, and real estate mortgage must be in line with the provisions in the Administration of Urban Real Property Mortgage Procedures issued by the Ministry of Housing and Urban-Rural Development. The borrower must carry out the mortgage with the entire value of the real property, and the mortgage rate should not exceed 50% in general. Meanwhile, the borrower must finish mortgage registration according to relevant provisions in the Guarantee Law of the People's Republic of China before acquiring the loan.

B. For pledged loans, pledged items are limited to deposit receipts, government bonds and other value securities that are issued by commercial banks with stable value and are easy for realization. The pledge rate of bank deposit receipt and government bonds should be no higher than 90%, and the pledge rate of other value securities shall be respectively determined due to its value. The pledged items provided by borrower customers must be in line with the provisions in the Guarantee Law of the People's Republic of China, and the registration process must be carried out in compliance with relevant regulations. If notarization is needed, the borrower customer (or the pledgor) shall carry out the process of notarization.

C. If loans are applied with third party's guarantee; you are required to provide the third party's guarantee that is accepted by Bank of China. The guarantee provided by the third party is expected to be a full-amount guarantee of joint liability, which is valid and irrevocable.

Target Customers

The borrower customer refers to natural person with full civil capacity within the territory of China, including sole proprietorship enterprise, namely, a business entity, which is established legally within the territory of China, and invested by a natural person who owns the company's property and undertakes unlimited liability for the corporate debt with his/her personal property.

Process

Since there are a lot of documents required for loan application; if you have any other questions, please consult the local branches of Bank of China with the brand mark of "Ideal Home", or just call 95566.

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