Not necessarily. There are also unsecured micro-loans. Small bank loans are business loans with individuals or families as the core, and their main service targets are the vast number of industrial and commercial self-employed, small workshops and small business owners. The loan amount is generally less than 200,000 yuan, 1 10,000 yuan or more.

Letter of credit clause

1. China citizens with full civil capacity who have a fixed residence in China, or a fixed residence (or valid residence certificate) in a local town, or a fixed business place;

2. Have a legitimate occupation and stable economic income, and have the ability to repay the principal and interest of the loan on schedule;

3. No bad credit record;

4. Loans cannot be used for stock trading, house purchase, gambling and other behaviors;

5. Other bank microfinance conditions stipulated by the lender.

Application material

1. Provide personal identification, which can be ID card, residence permit, household registration book, marriage certificate and other materials;

2. Provide stable proof of address, house lease contract, water and electricity bills, property management and other relevant certificates;

3. Provide stable proof of income source, bank flow sheet and labor contract.