The Interim Measures for the Administration of Personal Loans have corresponding provisions:

Article 11 An individual loan application shall meet the following conditions:

(1) The borrower is a People's Republic of China (PRC) citizen with full capacity for civil conduct or an overseas natural person who meets the relevant provisions of the state;

(2) The purpose of the loan is clear and legal;

(3) The amount, duration and currency of the loan application are reasonable;

(4) The borrower's credit status is good and there is no significant bad credit record;

After accepting the borrower's loan application, the lender shall fulfill the obligation of due diligence, investigate and verify the authenticity, accuracy and completeness of the personal loan application content and related information, and form an investigation and evaluation opinion.

Extended data:

?

Relevant laws and regulations of Interim Measures for the Administration of Personal Loans:

Thirty-fifth loan risk assessment should be based on the analysis of the borrower's cash income, and adopt quantitative and qualitative analysis methods to conduct a comprehensive and dynamic loan review and risk assessment. The lender shall establish and improve the borrower's credit record and evaluation system.

Loan companies should adhere to the principle of small amount and dispersion in issuing loans, improve the coverage of loans and prevent excessive concentration of loans. The loan balance of a loan company to the same borrower shall not exceed 10% of the net capital.

Article 36? If a loan company violates these provisions, the banking regulatory institution has the right to take measures such as risk warning, interview, supervision inquiry, and order it to suspend business, and urge it to make timely rectification to prevent asset risks.

Baidu Encyclopedia-Interim Measures for the Administration of Personal Loans