Hello, if you want to get a loan, try to go to the bank. But generally speaking, bank requirements are relatively high. If you do not meet the bank requirements, you can find local private lending institutions, small loan companies, P2P institutions, etc. Generally speaking, these places are faster, but there are still relatively few on that day.

I don’t know much about the place you’re talking about, but here I can tell you some ways to identify whether a microfinance institution is legitimate.

(1) Regular loan companies will generally require you to sign a contract at their agency’s business outlet. You can check whether their work location, company size, office staff, etc. are regular.

(2) Loans issued by small loan companies need to be reviewed. They will ask customers to provide relevant information and judge their repayment ability based on the borrower's income capacity. Any company that says it can provide loans without any conditions is likely to be a scam company.

(3) When signing an agreement with a small loan company, be sure to review whether the content of the agreement signed between the two parties violates the provisions of the law. The interest rates of formal loan companies are generally higher than bank interest rates, and do not exceed 4 times the central bank's benchmark interest rate for the same period. Interest rates that are too high or too low can be problematic.

(4) Generally, regular loan companies will not charge additional fees before the loan is approved. However, some companies will say that you buy insurance, so it is recommended to check carefully.

As for small loan companies, there are the following points:

Only formal small loan companies can have the words "small loan" in their names. When choosing a small loan company, When registering a company, it is necessary to verify the company's business license, whether it has an "opening approval" from the Finance Office, and confirm whether it is a legally established company.

It is also recommended that if your loan is successful, please repay each installment on time, avoid overdue payments, and maintain good credit.