1. The borrower's application for BOC's microfinance loan is guaranteed by the microfinance guarantee fund for laid-off workers. The lender shall sign a cooperation agreement with the credit guarantee institution entrusted by the local government to operate this guarantee business.

2. In the loan guarantee cooperation agreement signed by both parties, it should be clear that the guarantee promised by the loan guarantee institution to the borrower is irrevocable joint and several liability guarantee; The loan guarantee institution shall open a loan guarantee fund account in the handling bank; The balance of BOC's small secured loan liabilities shall not exceed five times the balance of the loan guarantee fund account; The guarantee institution shall perform the subrogation liability within three months at the longest from the date of receiving the bank's request to assume the guarantee liability.

The above contents are for your reference. Please refer to the actual business regulations.

If you have any questions, please contact online customer service of Bank of China.

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