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199965438+1The Reply of the Supreme People's Court on How to Confirm the Validity of Lending between Citizens and Enterprises, which was adopted by the the Supreme People's Court Judicial Committee at its 104 1 meeting on October 26th;
Lending between citizens and non-financial enterprises (hereinafter referred to as enterprises) belongs to private lending. As long as the meaning of both parties is true, it can be considered as valid. However, in any of the following circumstances, it shall be deemed invalid:
(a) enterprises illegally raise funds from employees in the name of borrowing money;
(two) enterprises illegally raise funds from the society in the name of lending;
(3) Enterprises issue loans to the public in the name of loans;
(four) other acts in violation of laws and administrative regulations.
If the loan interest rate exceeds the bank's interest rate of similar loans for four times in the same period, it shall be handled in accordance with the relevant provisions of the Opinions of the People's Court on the Trial of Loan Cases [1991] No.21.
To sum up, our lawyer believes that the interest rate of 10% is legal and effective. If the company has the ability to repay the interest due, there is no risk for employees, and the risk lies with the company.