1. Regular financial companies are established with the approval of the China Banking Regulatory Commission, with relevant lending qualifications and financial licenses, and are non-bank financial institutions permitted by law and approved by the industrial and commercial departments. Moreover, regular financial companies are generally connected to the central bank's credit information system, on the one hand, to supervise financial companies, on the other hand, to understand the repayment situation of borrowers and facilitate credit evaluation of borrowers.
2. The loan interest rate of formal financial companies may be higher than that of commercial loans of banks, but they are all within the scope permitted by law. Moreover, compared with commercial bank loans, the loan review process of finance companies is relatively simpler, the lending speed is faster, and the requirements for users' personal qualifications are lower, so each has its own advantages and disadvantages. If the user's personal qualifications can be loaned in the bank, it will definitely be better. If you can't get a loan from a bank, or users want to get a quick loan, then it's also a good choice to get a loan from a formal financial company.