When and whether to apply for unsecured loans in the form of individuals or enterprises? Which one suits you better? Let's take you to understand the differences between them.
I. Loan amount
Individuals: Personal unsecured loans are generally determined according to the borrower's income, which is usually about 10 times the borrower's monthly salary. The loanable amount is about 30,000-6,543.8+0,000 yuan, but the threshold of 6,543.8+0,000 yuan is extremely high.
Enterprises: In the course of business operation, enterprises generally need more liquidity than individual financing, so the amount of loans they can borrow is also larger than individual unsecured loans, usually around 500,000-2 million yuan. However, banks generally have to review the company's registration and overall business scale, so the threshold for loans is higher than that of unsecured individuals.
Summary: From the perspective of loanable amount, the unsecured amount of enterprises is obviously higher than that of individuals.
Second, the loan cycle.
Individual: The bank can generally complete the loan within 3-7 working days after reviewing the borrower's information. Whether it is mortgage or mortgage, personal unsecured loans are relatively fast.
Enterprises: Banks need to review more materials for enterprises, so the time for lending money is also very slow.
Summary: From the time of lending, the lending speed of individual unsecured loans is obviously faster than that of enterprise unsecured loans, so this is also the reason why the number of individual unsecured loans is more than that of enterprise unsecured loans.
Three. Expected annualized interest rate of loan
Individuals: The expected annualized interest rate of personal unsecured loans is generally slightly higher than that of mortgage loans and mortgage consumer loans. Usually, according to different personal qualifications, the expected annualized interest rates of different banks are different, and there are many unsecured products, so borrowers should deal with them according to their own conditions.
Enterprises: Because the amount of financing required by enterprises is relatively high, the amount of loans that banks can issue is also relatively high.
Summary: Generally speaking, the expected annualized interest rate of enterprise unsecured loans is lower than that of individual unsecured loans, so the repayment pressure will be relatively small.
Fourth, the required procedures.
Individuals: Borrowers have high qualification requirements, and generally need personal ID card, income certificate, residence certificate, stable residence address, personal running statement, loan purpose certificate, etc. to apply for unsecured loans.
Enterprises: For enterprises, there are more procedures for handling unsecured loans than for individuals. In addition to the bank statement or proof of running water for nearly 6 months, they also need business license, credit report, business premises lease contract and financial statements. Because corporate financing is usually in great demand, banks need to review the registered capital and scale conditions of enterprises.
Summary: For individuals or enterprises without collateral, the focus of bank inspection is the same, but the required procedures are different. Enterprises without collateral have a higher threshold and need to prepare more materials.