First of all, the law does not allow small loan companies to charge customers fees and interest first, and it is illegal to charge "beheading interest". Only loan sharks do this. It is such a small loan company that the CBRC is rectifying.

Secondly, if you pay the interest and expenses in advance, what if you don't get a loan? Even if you do, it will increase your repayment pressure and repayment risk. What should you do in the future? Therefore, be careful not to blindly trust and borrow this money, because the risk is great.

Extended data:

Loan classification

1, individual

Personal loan service for working class. It has a large number of outlets and employees to help the whole loan process. You can also apply for a loan online conveniently! Provide loans with a maximum of 6.5438 yuan+5,000 yuan, and the loan period is divided into 654.38+0.2 months or 654.38+0.8 months. Generally, the loan can be released on the day of application.

2. Small businesses

Mortgage-free and unsecured loan service for small business owners. No matter running a small company or setting up a stall, you can apply for a loan of up to 300,000 yuan as long as you have been operating for more than six months. It usually takes two to three days to lend money.

Step 3 Revolving loan

Customers can easily repay or refinance loans within a predetermined limit without paying liquidated damages! This is the best choice for customers who often need extra cash and customers who need flexible repayment and cash withdrawal at any time.

Baidu encyclopedia-micro-credit company