How many years can I borrow to buy a shop loan?
Under normal circumstances, if the commercial housing loan is handled in a single way, the longest loan period is 10 year; In the case of revolving credit, the longest credit period is 30 years.
The repayment method of shop loans is more flexible. If the loan term of the borrower is within 1 year (including 1 year), the borrower can pay off the loan principal and interest in one lump sum or repay the loan monthly. If the loan term is 1- 10 years (inclusive), the borrower can repay the loan on a monthly basis. Moreover, the lender can also choose to prepay in whole or in part according to the operating income.
What is the process of shop loan?
1. Need to open a current deposit account with a banking institution;
2. Fill in the loan application form as required, and submit the application form and required materials according to the instructions of the bank;
3. The bank manager or appointed lawyer will visit you at home to investigate the authenticity, legality and completeness of the information you provide;
4. After the approval of the bank, notify the approval result and sign a loan contract with;
5. Handle insurance, mortgage registration, notarization and other procedures as appropriate;
6. CITIC Industrial Bank will directly transfer the loan to the account agreed in the contract;
7. According to the provisions of the loan contract.
8. If the real estate purchased by the shop loan is for business operation, the materials to be prepared: the borrower's ID card, household registration book, proof of marital status, original and photocopy of the real estate license, bank flow, proof of large assets, etc. A copy of the company's business license is stamped with the official seal, the company's articles of association, the company's financial statements for the last 1-3 years, the company's bank flow, and the certification materials used for business or financing purposes.