The Interim Measures for the Administration of Personal Loans have corresponding provisions:

Article 11? Personal loan application shall meet the following conditions:

(1) The borrower is a People's Republic of China (PRC) citizen with full capacity for civil conduct or an overseas natural person who meets the relevant provisions of the state;

(2) The purpose of the loan is clear and legal;

(3) The amount, duration and currency of the loan application are reasonable;

(4) The borrower has the willingness and ability to repay;

(5) The borrower's credit status is good and there is no significant bad credit record;

(6) Other conditions required by the lender.

Extended data:

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Relevant laws and regulations of Interim Measures for the Administration of Personal Loans:

Article 58 If a borrower needs a loan, he shall directly apply to the host bank or the agent bank of other banks. The borrower shall fill in the loan application form including the loan amount, loan purpose, repayment ability and repayment method.

Lenders charge interest on loans that cannot be repaid within the time limit stipulated in the loan contract; If the principal and interest cannot be repaid or executed, it shall be urged to repay or bring a lawsuit.

Fifty-ninth lenders in different places to issue loans or accept deposits, should be filed with the local branch of the People's Bank of China. The types, objects and scope of loans from non-bank financial institutions shall conform to the provisions of the People's Bank of China.

Baidu Encyclopedia-Interim Measures for the Administration of Personal Loans