Unsecured loan of rural credit cooperatives

Rural credit cooperatives refer to rural cooperative financial institutions established with the approval of the people's Bank of China, composed of members, democratic management, and mainly providing financial services to members. Under normal circumstances, the loans issued are only aimed at farmers. So does the rural credit society issue unsecured loans? Next, let's take a look at whether rural credit cooperatives can apply for unsecured loans.

Unsecured loan of rural credit cooperatives

Rural credit cooperatives can make unsecured loans. All loans from rural credit cooperatives need to be guaranteed, that is to say, borrowers also need to provide guarantees if they do not have collateral. At present, the common guarantee way for credit cooperatives to apply for loans is farmers'co-guarantee loans. Peasant household co-guarantee loan refers to the joint insurance members composed of 3 to 5 peasant households, and the members jointly guarantee each other to credit union loans. One of these members borrows money, and the other members guarantee it. There is joint and several liability between the personnel of several other households and the borrower, and if one of the households is unable to repay the loan, the other members are responsible for repaying it on their behalf. By applying for a loan in this way, farmers can obtain a loan without providing collateral.

The loan line of rural credit cooperatives

The loan amount of rural credit cooperatives will vary according to local loan policies and loan methods, but generally the loan amount of rural credit cooperatives is not very high. For small loans of rural credit cooperatives, the amount generally can not exceed 50,000 yuan. If it is a mortgage loan, it may be a little easier to handle, and the amount will be slightly higher, but if it is to deal with a credit line without mortgage, it will not be so high, usually about 20,000 yuan.

Loan conditions of Rural Credit Cooperatives

1. The ability to repay principal and interest on schedule. The interest on the original loan payable and the loan due have been basically repaid, and if there is no repayment, a repayment plan approved by the lender has been made.

2. Except for natural persons and enterprise legal persons that do not need to be approved and registered by the industry and commerce department, they shall go through the annual inspection formalities through the industry and commerce department

3. A basic account or a general deposit account has been opened in the loan agency, and a certain amount of payment deposit is retained in the account, and is voluntarily subject to the supervision and inspection of credit and settlement of the loan agency, it can be guaranteed to submit business plans and related business and financial statements to the loan agency on a regular basis.

4. The applicant for guarantee or mortgage must have loan guarantor, loan collateral or pledge in accordance with the regulations, and the loan guarantor must be an enterprise or economic entity that opens a deposit account in rural credit cooperatives and has good economic benefits and creditworthiness. The loan collateral must comply with the provisions of the guarantee Law of the people's Republic of China and relevant laws and regulations, and in principle it should be based on real estate (such as housing and land). Must be commercial and easy to realize.

5. The asset-liability ratio of the borrower shall not be higher than 70%.

6. for those who apply for loans for projects such as fixed assets and real estate, the owner's rights and interests and the proportion of self-raised funds of the borrower must meet the requirements set by the State Council, and at the same time, complete, standardized and effective documents must be submitted in accordance with the requirements of project management.