2. The first paragraph of Article 1 of the Judicial Interpretation of Private Lending Disputes stipulates that "the private lending mentioned in these Provisions refers to the financing behavior between natural persons, legal persons and other organizations and between them." The second paragraph stipulates that "these provisions shall not apply to financial institutions and their branches established with the approval of the financial supervision department and disputes arising from loans and other related financial businesses." In May 2008, China Banking Regulatory Commission and People's Bank of China issued the Opinions on the Pilot Project of Microfinance Companies, which described the nature of microfinance companies as "limited liability companies or joint stock limited companies established by natural persons, corporate legal persons and other social organizations that do not absorb public deposits and operate microfinance business", but it was not clear whether microfinance companies were financial institutions. However, Article 3.32 of the Code of Financial Institutions issued by the General Office of the People's Bank of China on June 5438+February 1 2009 is about microfinance companies. Therefore, microfinance companies can be identified as financial institutions. Therefore, the judicial interpretation of private lending does not apply to small loan disputes.
3. Although the judicial interpretation of private lending is not applicable to small loan disputes, in judicial practice, the court will determine the loan interest rate of small loan companies according to the private lending interest rate.