1. The lead bank is also the agent of the syndicated loan, that is, the lead bank is both the organizer and the agent of the syndicated loan, with multiple identities and more responsibilities and obligations;
2. Indirect syndicated loan is an open form of syndicated loan. Participating banks have greater options to join or leave the syndicate, while member banks are not stable;
3. The general borrower only needs to sign a loan contract with the lead bank, with relatively simple procedures and less workload;
4. The legal risk is high. For direct syndicated loans, countries all over the world generally have relatively complete special laws to regulate them, but there is still a lack of clear legal provisions for indirect syndicated loans. Not only does China have no clear legal provisions on indirect syndicated loans, even in some developed countries, which leads to the adjustment of indirect syndicated loans according to other relevant laws and regulations, so there are certain legal risks.