According to the Interim Measures for the Administration of Personal Loans, the conditions required by private loan companies are: 1. The applicant must be a natural person with full capacity for civil conduct. 2. Having urban permanent residence or valid residence status requires the borrower to have legal status. 3. Good credit and ability to repay loan principal and interest. 4. Some banks will require applicants to apply for their own credit cards, or to borrow from banks with good credit records. 5. Some also require providing assets recognized by the bank as collateral or pledge, or taking units or individuals that meet the prescribed conditions and have compensatory ability as guarantors to repay the loan principal and interest and bear joint and several liabilities.