The conditions for personal business loans vary from place to place. In addition, the larger the loan amount, the more guarantee or mortgage is required.

The general conditions are as follows:

Application conditions

Individual business loans are targeted at individual industrial and commercial households holding unincorporated business licenses issued by the industrial and commercial administration authorities. Partners in a partnership and proprietors in a sole proprietorship.

Borrowers applying for personal business loans must meet the following conditions:

1. Have full capacity for civil conduct and be under 50 years old.

2. Hold an industrial and commercial business license, tax registration certificate and relevant industry business license issued by the industrial and commercial administration authority.

3. Engage in legitimate production and business activities, the project has development potential or market competitiveness, and has the ability to repay the principal and interest of the loan on schedule.

4. Have good credit standing, comply with laws and regulations, have no bad credit and debt records, and be able to provide mortgages, pledges or guarantees recognized by Industrial Bank.

5. Have a fixed residence and business premises in the handling institution.

6. Open a settlement account at Industrial Bank and handle daily settlement through the Industrial Bank account.

7. Other conditions stipulated by Industrial Bank.

Loan amount, term and interest rate

1. The maximum amount of personal business loan shall not exceed the working capital required by the borrower for normal production and business activities, purchase (installation or repair) of small equipment (machines) ) and 70% of the total funds required for franchise chain operations.

2. The term of a personal business loan is generally 2 years, with a maximum term of no more than 3 years, of which the maximum term of a production and operating working capital loan is 1 year.

3. Personal entrepreneurial loans are subject to the term loan interest rate promulgated by the People's Bank of China, which can fluctuate up or down within the prescribed range.

Loan repayment method

1. For personal business loans with a loan term of less than one year (including one year), the principal and interest will be repaid in one lump sum upon maturity, and the interest will be paid off along with the principal.

2. For personal entrepreneurial loans with a loan term of more than one year, the principal and interest repayment method of the loan can be the equal principal and interest repayment method or the equal principal repayment method, or other methods agreed upon by both parties.