How Do I Choose the Best Small Personal Loan?

A small personal loan is a renminbi credit loan with a term of less than one year and an amount of less than 300,000 yuan, which is issued by the lender to address the temporary consumption needs of the borrower.

Small personal loan

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Borrowers are Chinese citizens who have a permanent residence in China, a permanent resident account (or a valid residence permit) in a local town, and have full capacity for civil conduct. Since 2004, in order to make up for financial products targeted at low- and middle-income groups and small businesses Gap in support, the country has successively launched a series of supporting policies to develop microfinance. Among them, some professional microfinance companies have emerged, such as Zhongan Credit, and then several major banks have also launched microfinance. Business. However, due to low consumer awareness and other issues, the market is chaotic in the early development stages of the industry. Therefore, if small businesses or individuals need to apply for loans, it is best to consult a professional and capable company.

I. Borrower conditions

Borrowers applying for personal short-term credit loans must meet the following requirements:

1. Chinese citizens who have a fixed residence in China, have a permanent residence in a local town (or a valid residence certificate), and have full capacity for civil conduct;

2. Have a proper occupation and stable economic income (monthly wage income needs to be above 1,000 yuan), and have the ability to repay the principal and interest of the loan on schedule;

3. The unit where the borrower is located must be an administrative, enterprise, or public institution that is approved by the lender and has a good cooperative relationship with the lender, and the lender shall pay the salary on behalf of the lender;

4. Obey the law and discipline, and have no illegal acts and bad credit records;

7. Other conditions stipulated by the lender.

Application for Loans

When applying for a loan, the borrower shall provide the following information to the lender:

1. Loan application approval form;

2.I have a valid ID

3.Valid proof of address

4. Stable income proof