It is not formal in itself. The loan platform itself is not formal, because the illegal collection of high interest fees was reported by others, allowing the CBRC to intervene in supervision, and the platform temporarily stopped the collection business. Loan is a form of credit activity in which banks or other financial institutions lend monetary funds at a certain interest rate and must return them. Loans in a broad sense refer to loans, discounts, overdrafts and other borrowing funds.