Today, when I visited the Post Bar Forum, I happened to find that many friends seemed to be confused about the difference between private loans and microfinance in Beijing, thinking that it was a loan channel, but it was not. Here, I have sorted out the differences between private loans and microfinance companies in Beijing. Let's see if you're confused.

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The difference between private loans and microfinance companies in Beijing

1, source of funds

The source of funds for microfinance companies is self-raised by the shareholders of the company, which will not absorb public savings or illegally raise funds, while Chengdu has a wide source of private lending funds.

2. Loan threshold

The threshold of private loans is low, and the threshold of microfinance companies is high. When a small loan company applies for a loan, the applicant always needs to provide a series of information needed for the loan before applying for a loan.

3. Loan interest rate

The interest rate of private lending in Chengdu is generally agreed by both borrowers and lenders, and there is no fixed interest standard. However, the interest executed by regular microfinance companies generally rises 10%- 15% on the basis of the benchmark interest rate.

4. Next speed

The process of private loans is simple and fast, and the required information is not so complicated. Generally, loans can be made in three days, while formal microfinance companies need a lot of information because of the complicated process, and it takes about 10 days at the earliest.

5. Handling fee

Private lending procedures are simple, resulting in low or almost no fees, while microfinance companies have complicated procedures, involving high fees such as evaluation. For this reason, the fees charged by microfinance companies are generally higher.

6. Risk

The easy cost of private lending has always been high, and the interest involved is also higher than the national regulations. Because of this, the risk of private lending is higher. However, microfinance companies generally go through normal procedures to lend money, which greatly reduces the risk.

The difference between private loans and microfinance companies in Beijing is introduced here, and I believe you will not be confused again.