To apply for a secured loan, the lending institution shall, after receiving the application materials, review the relevant materials and the qualifications of the applicant, determine the loan amount, loan term and loan interest rate, then negotiate with the borrower, sign a loan contract after reaching an agreement, and it usually takes about 10 working days to review, then go through the guarantee procedures, and the lending institution will issue the loan only after all the procedures are completed.

Secured loan means that when the borrower fails to provide the mortgaged (pledged) property in full, the third party recognized by the lender shall provide joint liability guarantee. If the guarantor is a legal person, he must have the ability to repay all the principal and interest of the loan on his behalf and open a deposit account in a bank.