If the borrower still fails to repay the debt after debt collection, it will generate a certain penalty interest and cause a bad credit record for himself.
If the borrower still fails to repay the loan, the bank will send relevant staff to collect it in person.
If the borrower fails to repay the loan until the end, the bank will take legal measures to safeguard its rights and interests. If the borrower applies for a mortgage loan, the collateral will be auctioned by the court, and then the proceeds from the auction will be used to repay the loan.
Microfinance organizations can be divided into two categories according to the characteristics of their business operations: commercial and welfare, also known as institutional and welfare.
The former emphasizes the institutional sustainability of microfinance management and target design, represented by the People's Bank of Indonesia. The latter pays more attention to the role of the project in improving the economic and social welfare of the poor, represented by Bangladesh Rural Bank.
Many enterprises stand out in microfinance. For example, Ziqing Finance is one of the leaders in the comprehensive P2P field, which integrates wealth management, credit risk assessment and management, credit data integration services, microfinance industry investment, microfinance consulting services and transaction facilitation to provide customers with comprehensive and personalized financial services in inclusive finance.
Build the fastest financing platform for small and micro enterprises and private capital, actively explore the best way in the field of debt financing, and strive to build a high-speed, effective and legal peer-to-peer lending platform with characteristics.
Lenders and borrowers will pair up independently to solve the most urgent loan and financing problems for individuals and small and medium-sized enterprises in China.
Solving the problem of the poor is a great difficulty for most countries in the world, because all kinds of social problems caused by poverty will lead to the turmoil of the whole country. By improving the economic situation of low-income people, microfinance can greatly increase the effective demand of the whole society and promote social investment and production and national economic development.