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I. Introduction
The small business working capital loan is to meet reasonable funds demands of customers in production management with the business revenue and other lawful income as a source of loan repayment, which can be short-term or mid-term.
II. Target Customers
Small business working capital loans are widely applicable for small enterprises engaged in production, logistics or other sectors, either as working capital for any business purpose or small-scale production expansion for the middle and short term.
III. Distinctive Advantages
1. High credit line.
Each borrower can borrow up to RMB30 million, depending on the needs, repayment sources and other factors;
2. Flexible purposes.
The loan can be used as working capital for the business or small-scale production expansion;
3. Long tenure.
Small business working capital loans are mainly short-term loans, in general not longer than 3 years and are up to 5 years;
4. Many repayment options.
Different options are available for borrowers to repay the loans, periodic interest payments and one-time principal repayment at the end of the loan, principal repayment or interest payments by installments.
IV. Application Conditions
1.Registered under the administrative department of industrial and commerce, with business license and organization code certificate;
2. Primary settlement account or general settlement account opened in ICBC;
3. Organization structure, business management system and financial management system in place (not applicable to individual industrial and commercial household);
4. Fixed business location, legal business operations, and marketable products;
5. Able to fulfill the obligation of the contract and repay debt, with no bad credit history;
6. Able to provide loan guarantee as required by ICBC. No guarantee or security deposit is required if ICBC conditions for credit loan are met;
7. Other conditions stipulated by the lending branch.
Note: Information herein is for reference only. Please refer to the announcements and regulations of local branches for further details.
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