Overview
The Simple and Quick Loan for Small Enterprises mainly serves small enterprise customers without a credit rating. The loan must be secured with full and valid collateralization (mortgages or pledges) and the credit line is reduced in an equal amount when the loan contract expires.
Functions
Mainly to meet seasonal or temporary working capital needs of small enterprises.
Features
1. Satisfying the working capital need of small enterprises.
2. Direct credit and disbursement upon collateral without credit rating.
3. Simple and efficient procedures.
Procedures
1. The customer files an application.
To apply for the loan, the borrower should provide ABC with a written application and the following materials:
• Annually reviewed business license, organization code certificate, tax registration certificate, and loan certificate (card). For special sectors or industries, related administrative permit, environmental permit, approval and/or registration certificate will also be required.
• Articles of association and capital verification report of corporations, partnership agreement, and capital contribution agreement of partnerships.
• If the articles of association of corporations set out restrictive clauses on borrowings, the board of directors' (or the meeting of shareholders') written consent to borrowing is required. If the partnership agreement sets out restrictive clauses on borrowings, all partners' written consent to the borrowing is required.
• Certificate of the legal representative (or enterprise principal), copies of ID cards of individual shareholders or partners, specimen seal of enterprise, and specimen signature of the legal representative (or enterprise principal).
• Annual financial statements for the past two years, recent financial statements and utilities bills for the past six months or valid certificates of their payment by the enterprise (not required for a new enterprise).
• Collateral documents. Full collaboration is required. Acceptable collateral is limited to real estate, certificates of deposit, Treasury Bonds, and bank instruments.
• Other materials required by ABC
2. ABC completes investigation, review, and approval processes.
3. Finalize an Agreement:
If approval is given, ABC enters into contract with the customer, and completes mortgage or pledge registration, pledged securities delivery, and payment suspension procedures.
4. ABC grants the loan.
Application Channels
All ABC outlets.
FAQs
1. Hong long is the loan term generally?
The term is generally one year or less, subject to a maximum of three years.
2. What repayment options are available?
Loans with a term of six months or less may be repaid upon maturity in a lump-sum. Regarding of loans with a term over six months, repayment options include monthly or quarterly interest payment and lump-sum principal repayment upon maturity, or monthly or quarterly installments of interest and principal.
Customer Service Center : 95599
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