Can the civil code guarantee company guarantee private lending?

Guarantee companies can provide guarantors for private lending. If the guarantee company has solvency, it is a qualified subject that can provide guarantee. The forms of surety's undertaking suretyship responsibilities include performing debts on his behalf and undertaking non-performance responsibilities. At the same time, providing guarantee is not an institution prohibited by law, so guarantee companies can provide guarantors for private lending.

First, can the civil code guarantee company guarantee private lending?

1. Guarantee companies can provide guarantors for private lending. If the guarantee company has solvency, it is a qualified subject that can provide guarantee. The forms of surety's undertaking suretyship responsibilities include performing debts on his behalf and undertaking non-performance responsibilities. At the same time, providing guarantee is not an institution prohibited by law, so guarantee companies can provide guarantors for private lending.

2. Legal basis: Article 687 of the Civil Code of People's Republic of China (PRC).

If the parties agree in the suretyship contract that the surety shall bear the suretyship liability when the debtor fails to perform the debt, it is a general suretyship.

The guarantor of a general guarantee has the right to refuse to undertake the guarantee liability to the creditor before the main contract dispute has been tried or arbitrated and the debtor's property has been enforced according to law, except in one of the following circumstances:

(1) The debtor's whereabouts are unknown and there is no property available for execution;

(2) The people's court has accepted the bankruptcy case of the debtor;

(3) The creditor has evidence to prove that the debtor's property is insufficient to perform all debts or cannot perform debts;

(4) The Guarantor waives the rights stipulated in this clause in writing.

2. What are the scope of guarantee of the guarantee company?

1. The business scope of a financing guarantee company is:

(1) loan guarantee;

(2) Bill acceptance guarantee;

(3) Trade financing guarantee;

(4) Project financing guarantee;

(5) letter of credit guarantee;

(6) Other financing guarantee businesses.

2. Business scope of non-financing guarantee companies:

(1) litigation preservation guarantee;

(2) Performance guarantee services such as bid guarantee, advance payment guarantee, project performance guarantee and final payment guarantee;

(3) raw material credit guarantee, equipment installment guarantee, property preservation guarantee, lease contract guarantee and other contract guarantees;

(4) Intermediary services such as financing consultation and financial consultancy related to the guarantee business.