The company is cancelled according to law, and the loan may be recovered. After the cancellation of the company, its original debts shall be paid off with the company's property, and the bankruptcy expenses and * * * beneficiary debts shall be paid off with the bankrupt property in the following order:

1, wages, social insurance and compensation owed by the bankrupt;

2, in addition to the provisions of the preceding paragraph in arrears of social insurance premiums and taxes owed;

3. Ordinary bankruptcy claims.

The cancellation of the company needs to go through the following procedures:

1. The person in charge of the company liquidation organization and the legal representative of the company sign the application for cancellation of company registration;

2. Set up a liquidation team and start liquidation. After the liquidation is terminated, the shareholders' meeting or relevant authorities shall confirm the liquidation report;

3. Go to the Social Security Bureau to check whether there are unpaid social security fees, and then cancel the company's social security account;

4. Go to the tax bureau to check whether there are any taxes or fees owed, and then cancel the national tax of the company;

5. The company needs to publish an announcement in the newspaper to announce that the company is about to cancel;

6. Go to the Industrial and Commercial Bureau to cancel the company's record and cancel the business license;

7. Cancel the company's account opening license, basic bank account and other accounts at the account opening bank;

8. Go to the Quality Supervision Bureau to cancel the company's license, such as production license;

9. The legal effect of canceling the company seal in the public security organ is that the seal itself can not be handed in.

Legal basis: Article 186 of the Company Law of People's Republic of China (PRC).

After clearing up the company's property, preparing the balance sheet and property list, the liquidation group shall formulate the liquidation plan and report it to the shareholders' meeting, shareholders' meeting or the people's court for confirmation.

After paying the liquidation expenses, employees' wages, social insurance expenses and statutory compensation, paying the taxes owed and paying off the company's debts, the company's property shall be distributed according to the proportion of capital contribution of shareholders of a limited liability company and the proportion of shares of shareholders of a joint stock limited company.

During the liquidation period, the company shall survive, but shall not carry out business activities unrelated to liquidation. The company's property shall not be distributed to shareholders before it is paid off in accordance with the provisions of the preceding paragraph.