Legal analysis: enterprises can borrow money from specific individuals. Mutual lending between citizens and enterprises belongs to private lending and is permitted by law. As long as the meaning of both parties is true, it can be considered as valid. However, if an enterprise wants to raise working capital from the public, it must meet the conditions and go through the formalities prescribed by law. Otherwise, it is illegal and the perpetrator may even be punished by criminal law.
Legal basis: Provisions of the Supreme People's Court on Several Issues Concerning the Application of Law in the Trial of Private Lending Cases Article 11 If the parties claim that the private lending contract concluded between legal persons or other organizations is valid due to the needs of production and operation, the people's court shall support it, except in the circumstances limited by Article 52 of the Contract Law and Article 14 of these Provisions.