Is the private lending contract between companies as legal persons valid?

The Provisions of the Supreme People's Court on Several Issues Concerning the Application of Laws in the Trial of Private Lending Cases has made relevant provisions and changes on lending between enterprises. Article 1 1 Except under the circumstances stipulated in Article 52 of the Contract Law and Article 14 of these Provisions, the people's court shall support the private loan contracts concluded between legal persons and other organizations and between them for the needs of production and operation. Article 12 If a legal person or other organization raises funds from employees in the form of loans within the unit for the production and operation of the unit, there is no situation as stipulated in Article 52 of the Contract Law or Article 14 of these Provisions, and the parties claim that the private loan contract is valid, the people's court shall support it.