A loan of 20,000 yuan does not necessarily require a guarantor. When making a loan, the borrower must have the willingness and ability to repay; Good credit status, no major bad credit records; The purpose of the loan is clear and legal; Have full capacity for civil conduct. Whether a guarantor is needed or not shall be decided by the lender according to the specific circumstances.

legal ground

Article 667 of the Civil Code of People's Republic of China (PRC)

A loan contract is a contract in which the borrower borrows money from the lender, repays the loan at maturity and pays interest.

Article 668

A loan contract shall be in written form, unless otherwise agreed between natural persons.

The contents of a loan contract generally include terms such as loan type, currency, purpose, amount, interest rate, term and repayment method.

Article 669

When concluding a loan contract, the borrower shall provide true information on the business activities and financial status related to the loan as required by the lender.