Legal analysis: whether private lending is on credit depends on the situation. If you borrow money from private individuals, you won't go to the central bank for credit information. However, if you borrow money from private financial institutions, it is possible to report it to the central bank's personal credit information system. Therefore, the borrower must repay the loan on time when making private loans. Compared with bank loans, private lending has the characteristics of simple procedures, fast payment and low application threshold. For some friends who need funds in the short term, they can solve the liquidity problem in their hands. However, in the actual lending process, both borrowers and borrowers are prone to interest disputes, and even some borrowers fall into the usury trap. In China, the legal loan relationship is protected by law. Therefore, whether the lender determines the interest or the borrower makes a loan. Be sure to determine the loan relationship within the scope stipulated by law, otherwise some unnecessary disputes may arise.

Legal basis: Article 509 of the Civil Code of People's Republic of China (PRC).

Both parties shall fully perform their respective obligations in accordance with the agreement.

The parties shall abide by the principle of good faith and fulfill the obligations of notification, assistance and confidentiality according to the nature, purpose and trading habits of the contract.

During the performance of the contract, the parties shall avoid wasting resources, polluting the environment and destroying the ecology.