Conditions for establishing a loan company
1. Before the establishment of a loan company, it is necessary to have articles of association that meet the requirements of the state; 2. The promoters of the loan company must pay the registered capital in one lump sum, and the registered capital shall not be less than 500,000 yuan; 3. The loan company needs to have a certain organizational management system.
4. The staff of the loan company must have talents with financial knowledge such as loans or people with relevant experience; 5. The loan company needs to have legal business premises and loan-related equipment; 6. Other conditions stipulated by the CBRC.
A loan company refers to a banking non-deposit financial institution established in rural areas by domestic commercial banks or rural cooperative banks with the approval of China Banking Regulatory Commission according to relevant laws and regulations, which provides loan services for county farmers, agriculture and rural economic development. The loan company is a limited liability company fully funded by domestic commercial banks or rural cooperative banks.