Yes, this situation is an off-site provident fund loan. The Ministry of Housing and Urban-Rural Development clearly stipulates that provident fund off-site loans should be handled according to the following process:

The Loan City Provident Fund Center accepts employees’ off-site loan business consultation and notifies the loan of required review materials at one time.

The employee himself or his client submits an application to the city provident fund deposit center. The city provident fund deposit center will verify the employee's deposit loan status based on the employee's application, and provide personal housing loans or first-time housing loans for unused housing provident funds. Employees whose provident fund personal housing loans have been settled must issue a "Certificate of Use of Housing Provident Fund for Employees with Loans in Other Places".

After accepting the employee's off-site loan application, the Loan City Provident Fund Center will verify the authenticity and completeness of the information in the "Certificate of Payment, Deposit and Use of Housing Provident Fund for Employees in Off-site Loans" with the City Provident Fund Payment and Deposit Center. If the verification is correct, the loan review and approval procedures should be completed within the specified time limit, and the results should be fed back to the city provident fund center. The urban provident fund deposit center identifies employees' off-site loans and establishes a detailed account of employees' off-site loans.

If the personal housing provident fund account of a depositing employee is transferred during the loan repayment period in another place, the original depositing city provident fund center should promptly notify the lending city provident fund center and the transferred city provident fund center. The transferred urban provident fund center should promptly re-identify and record the off-site loan status after receiving the employee housing provident fund account.

When an off-site loan is overdue, the city provident fund center should cooperate with the lending city provident fund center to carry out loan collection and other work. According to the loan contract, the balance of the loan employee provident fund account can be deducted to repay the loan.