Is the micro-credit in Wang Yong closed down?

Small loans in Wang Yong closed down. According to the inquiry, Shenzhen AEON Microfinance Company is faced with the problems of tight capital chain, inability to repay debts or capital outflow exceeding inflow, and cannot continue to operate. Moreover, in the process of loan issuance, microfinance companies have improper risk control, lax audit and illegal loans, which lead to a large accumulation of bad debts, leading to bankruptcy. A loan means that one party provides a certain amount of funds to the other party (the borrower), and the borrower repays it at the agreed interest rate and repayment method within the agreed time limit. Loan is a common form of financial service to meet the short-term or long-term capital needs of individuals or enterprises.