Many people apply for loans on some small loans, but in fact, the other party does not lend money, but pays the bill directly without repayment. After all, the success of the loan depends not on the loan contract, but on the arrival of funds, otherwise even if the loan contract is signed, it will not take effect.

Formal microfinance platforms have relevant licenses. If there is no relevant licensing platform, it is illegal to lend, and the loan contract signed by it is invalid. Or charge fees before the loan, and the agreed loan interest rate exceeds the legal interest rate red line. And there is no need to repay.