What conditions do microfinance companies need for loans?
1 The applicant is over 18 years old and has full capacity for civil conduct;
2. The applicant has a stable address, work place or business place;
The applicant has a stable source of income and the ability to repay the loan;
(4) The applicant has no criminal suspicion and no bad credit record;
Other conditions proposed by the microfinance company.
To sum up, the most important thing to get a loan from a microfinance company is its repayment ability, usually in the form of mortgage guarantee. Without repayment ability, small loan companies will not approve loans. If you have the repayment ability, it is recommended to go to the bank for loan business, and the interest will be much lower than that of microfinance companies.