Does Weifang guarantee company need to guarantee the loan of rural commercial bank?

The loans of rural commercial banks need to be guaranteed by Weifang guarantee company. According to relevant public information, rural commercial banks need to ensure the safety and reliability of loans, and there are certain risks in loans. If the borrower fails to repay the loan on time as agreed in the contract, the rural commercial bank will face losses. In order to reduce this risk, rural commercial banks usually require borrowers to provide guarantees or pledges.