What are the conditions required for rural credit cooperative loans?

The conditions required for rural loans:

(1) Aged 18 years or above (including 18 years old), and The sum of age and loan period when applying for a loan shall not exceed 65 (inclusive); have a fixed residence in a rural area, be in good health, have full capacity for civil conduct and labor, and hold a valid identity document.

(2) According to the "Measures for the Management of Credit Rating of "Sannong" Customers of Bank of China", the customer's credit rating result is general grade and above.

(3) Should have stable income and the ability to repay the principal and interest of the loan on schedule.

(4) The production and business activities conducted are in compliance with national laws, regulations and industrial policies.

(5) Good character and no overdue loan repayments when applying for a loan.

(6) Other conditions stipulated by the lender.

Extended information

Characteristics of credit union loans The main business operated by credit unions is rural credit, and its business procedures and technical operations are basically consistent with those of national specialized banks. Therefore, the national specialized banks have The systems and methods for rural credit management are also applicable to credit cooperatives and are equally binding. However, because the nature, status, and functions of credit cooperatives are different from those of national professional banks, they have their own characteristics in the specific operation of loans:

(1) Extensive scope of loan objects Credit cooperative loans The objects involve various forms of ownership and various fields in rural areas, including:

1. Contractors, professional households and rural cooperative operating units engaged in various industries such as agriculture, forestry, animal husbandry, sideline production, and fishery.

2． Township (town) offices, village offices, organization offices, household offices and various forms of joint enterprises or new economic consortia that implement independent accounting with the approval of relevant departments.

3. Rural cultural, educational, health, scientific research and other institutions with guaranteed operating income and repayment.

4. The relevant departments have approved rural individual economic households and economic associations engaged in handicrafts, commerce, transportation, construction, service industries, etc. In addition, credit cooperatives with strong financial strength can also cross-grant loans to enterprises and institutions within the credit scope of national specialized banks. Of course, due to the nature of credit cooperatives, the focus of their loan support is agricultural production, and other supports can only be supported within their capabilities on the premise of sufficient funds for agricultural production.

(2) Flexibility of loan operations The flexibility of credit cooperatives’ loan operations means that credit cooperatives can independently operate credit business in accordance with the principle of proportional management under the guidance of party and state policies, decrees and plans. Give full play to the role of private lending and induce the rational flow of rural funds.

1． Flexibility in loan scope and purpose.

The purpose and scope of loans issued by credit cooperatives is to determine the "fund usage sequence" based on their own financial strength in accordance with national industrial policies and on the premise of ensuring the funds required for agricultural production.

That is: planting and breeding first, other agriculture, then township enterprises, individual industry and commerce, members' lives and other industry and commerce. To the extent that one's own financial strength is possible, as long as national policies and laws permit the production and operation of the project, the expected economic benefits can indeed be achieved and the loan will be returned to the borrower.

2． The proportion of self-owned funds and the loan period can be appropriately flexible.