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Personal Business Loan

☆ Description
Personal business loan refers to a secured RMB loan released by ICBC to a borrower as working capital for business activities.

☆ Features
1. High credit line: up to RMB 3 million;
2. Long loan term: up to three years;
3. Many guarantee options: Loan can be backed up by mortgage, pledge and other way of surety;
4. Revolving loan: Loan can be reused upon one application, and can be borrowed and repaid at anytime, which is fast and convenient. The borrower can draw down via POS terminal or Internet Banking.

☆ Qualification
1. Natural person with full civil capacity of age between 18 (inclusive) and 60 (exclusive) years old. Borrower of foreign nationality or from Hong Kong, Macau and Taiwan must live in China for at least one year, and have permanent address and stable job;
2. Hold legal ID document, certificate of permanent residence (or valid proof of residence) and certificate of marital status;
3. Borrower shall be allowed to run business under proper business license (for individual industrial and commercial business, partnership, or sole proprietorship), or operator's license, merchant license, merchant booth license, or other legal and valid business licenses;
4. Stable source of income and ability to repay all principal and interest of loan when due;
5. Borrower must have a good credit history and is willing to repay. Borrower or his/her business entity does not have any bad credit records with ICBC or other financial institutions already inquired;
6. Legal, valid and reliable loan guarantee approved by ICBC;
7. A personal settlement account opened in ICBC;
8. Other conditions stipulated by ICBC.

☆ Documents Required
1. ID Cards of the borrower and his/her spouse, certificate of permanent residence, original and a copy of certificate of marital status;
2. Original and a copy of the business license (individual industrial and commercial business, partnership, sole proprietorship) that passed through the annual check, or operator's license, merchant license, merchant booth license, or other legal and valid business licenses;
3. Certificate of personal income, including certificate of personal income tax payment, certificate of salary, certificate of dividend and rental income from his/her business;
4. Details of bank settlement accounts or tax payment receipts or other certificates that can reflect the financial status of the borrower or the recent operation of his/her business;
5. Original and a copy of the ownership certificate of the mortgaged property. Proof of consent from the person(s) who is entitled to dispose the property (including co-owners of the property) must be submitted. Original of assessment report must be provided if the mortgaged property needs to be assessed;
6. Other documents required by ICBC.

The above is for reference only. Details refer to the rules drawn up by local ICBC branch. To save your time, please call your local ICBC before applying for the service.

Personal Finance