Conditions for applying for small loans:
1, Chinese mainland residents aged 18;
2. Have a stable address and work or business place;
3. Have a stable source of income;
4. Without a bad credit record, the loan cannot be used for stock trading or gambling.
5. Other conditions required by the bank.
Microfinance processing flow:
1. Submit an application to a local bank or lending institution;
2. Prepare various materials required for the loan;
3. Face-to-face signing of banks or lending institutions;
4. The bank examines the qualifications of the lender;
5. Approved and successful loans.
After the loan is successful, it must be repaid on time. Failure to repay or delay repayment is overdue.
Consequences of overdue:
1, bear high penalty interest;
2. Causing legal disputes;
3. Leave a "credit stain" in the national credit information system.
The suggestions are as follows:
1, it must be made up immediately, and a part of the penalty interest must be paid. It is recommended to hand in more, so that the bad records can be cleared temporarily. If the payment is overdue for more than one month, the next repayment shall pay off the monthly payment for two months and the penalty interest for the previous month in one lump sum;
2. If there is no delay in the future, after one year, the computer will eliminate this bad record;
3. The repayment is postponed, but the repayment period will not be postponed, and only a bad record will be left forever;
4. Remember to pay off the previous monthly payment and penalty interest before the repayment period next month.