Legal analysis: No, an enterprise can't cancel its business without paying off the bank loan, and can apply for bankruptcy. To cancel the company's ordinary account in the bank, you must first transfer the balance in the bank, and if there is a check, you need to submit a check certificate. Then the legal person prepares all the required original documents and the legal person's ID card, official seal, financial seal and private seal. At the beginning, I opened a bank seal card and applied for account cancellation.

Legal basis: Enterprise Bankruptcy Law of the People's Republic of China.

Article 2 If an enterprise as a legal person is unable to pay off its due debts, its assets are insufficient to pay off all its debts or it obviously lacks solvency, it shall clear up its debts in accordance with the provisions of this Law. An enterprise as a legal person may be reorganized in accordance with the provisions of this law if it has the circumstances specified in the preceding paragraph or obviously loses its solvency.

Article 7 The debtor may apply to the people's court for reorganization, reconciliation or bankruptcy liquidation under the circumstances specified in Article 2 of this Law. If the debtor is unable to pay off the debts due, the creditor may apply to the people's court for reorganization or bankruptcy liquidation of the debtor. If an enterprise as a legal person has been dissolved but has not been liquidated or its assets are insufficient to pay off its debts, the person liable for liquidation according to law shall apply to the people's court for bankruptcy liquidation.