No.

Bank loans are only allowed if signed by the president in charge.

First, in fact, the loan commitment letter has substantive effect. Loan commitment letters are one of the bank's credit types and are mainly used for project financing. Once a bank issues a loan commitment letter, it means that the bank is committed to being ready to provide loan support for the project at any time during the validity period. What has no substantive effect is the letter of intent for the loan, which is a document of intention and generally exists when the project needs to obtain policies from the government in the early stages of the project. The loan letter of intent indicates that the bank has initially recognized the feasibility of the project, but it does not mean that it will definitely lend.

Second, the credit process in practice generally looks like this:

1. Contact. Either the customer proposes to the bank, or the account manager takes the initiative to come to the door. In short, the first step is for the customer to make preliminary contact with the bank to indicate their financing needs.

2. Pre-loan investigation. After contact, the bank will start a pre-loan investigation and collect relevant information, including basic information about the customer, basic information about affiliated companies, basic project information, development prospects, policy or industry environment, information about the intended guarantor or property, etc.

3. Plan negotiation. Some of this step is done during the initial contact, and some are carried out together with the pre-loan investigation. In short, the bank and the customer negotiate on the credit amount, type, term, price, guarantee method, etc. Once an agreement is reached, the account manager begins to write an investigation report, and for some businesses, a project analysis report is also required.

4. Loan review. After discussing the plan and writing the investigation report, all business information will be handed over to the risk control department for review. At this stage, the risk control department will review the project, determine the size of the risk, the amount of revenue, and draw a preliminary review conclusion: agree or disagree, or the amount, interest rate, guarantee method, etc. need to be changed.

5. Loan review meeting (optional): For some projects that are relatively large, or have special business, or have special management requirements, a loan review meeting will be held for collective review. Participants in the loan review meeting include, in addition to the leaders, the account managers and branch heads who reported the project, as well as people from the risk department, compliance department, accounting and finance department, customer department and other departments. In short, it is three sessions and expert consultation.

6. Loan approval: After the risk control review (review by the loan review committee) is passed, the business needs to be submitted to the authorized person (usually the president or authorized deputy president, some banks have independent approvers) for approval . Generally speaking, the authorized person has a veto power, that is, the authorized person may not approve the business that has been approved, but this rarely happens.

7. Sign the contract and go through the procedures: After the approval is passed, the customer and the bank sign the relevant contracts, complete the mortgage and other procedures, and then you can wait for the loan. 8. Loan review: Unfortunately, you don’t get the money after signing the contract. You also need to go through the loan review. This mainly depends on whether the previous approval requirements have been implemented, whether the contract has been signed, and whether the procedures are complete. , loan disbursement method, whether the payment object meets the regulations, etc.