Do you have a business license? If not, you just need to have a stable job. If you have a stable job and income and no bad record of overdue repayment, you can take unsecured loans from banks or small loans from formal loan companies. Generally, you need an ID card, proof of work income and proof of residence (proof of renting a house is also acceptable). The specific amount is calculated according to your monthly income, which is generally 4-8 times of your monthly income and not more than 10 times. The interest rate rises according to the benchmark interest rate stipulated by the bank. The general loan term is 6 months, 1 year, 2 years, 3 years, with a maximum of 4 years.

The interest rate of bank loans will be lower than that of private loan companies, but the threshold will be higher. Although informal lending institutions have higher interest rates, their lending methods are flexible and their loan conditions are not so harsh. You can choose according to your own situation.

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