Discounted loan is a kind of loan product subsidized by the national government, and the lender only needs to return the principal or little interest.

Loan discount is an act supported by the state, and the lender will have corresponding conditions:

For individuals who meet the requirements of small secured loans, the general process of applying for loans includes four steps: voluntary application, review and recommendation, commitment to guarantee and loan issuance.

1, voluntary application. Eligible applicants submit written applications (some of which can be directly submitted to the local human resources and social security departments or microfinance guarantee institutions) to the grassroots employment platform where their household registration is located or where they operate, and submit relevant materials, certificates or relevant certificates.

2. Review and recommend. The human resources and social security departments conduct qualification examination, and those who pass the examination are recommended to microfinance guarantee institutions. A guarantee institution refers to a guarantee institution entrusted to operate a small loan guarantee fund according to relevant regulations.

3. Promise. The guarantee institution shall review the applicant's projects in accordance with the relevant provisions, and handle the guarantee procedures for those who meet the conditions.

4. Issue loans. The loan applicant promised by the guarantee institution shall, after being examined and approved by the handling bank in accordance with relevant regulations, sign a contract and issue loans. The handling bank refers to all kinds of financial institutions at all levels that sign cooperation agreements with microfinance guarantee institutions to carry out microfinance business.