The small business revolving loan refers to the loan granted by ICBC whereby a contract is signed one-time between the borrower and ICBC. Within the period and credit limit stated in the contract, borrower draws loans at different times, repays loans individually and uses the credit limit revolvingly.
II. Target Customers
Small business revolving loans are for small enterprises running normal business with stable income sources, able to provide legal and valid mortgage (pledge) and are in need of short-term funds very often.
III. Distinctive Advantages
1. High credit line.
Borrowers can borrow up to RMB30 million, depending on the needs, repayment sources and other factors;
2. Low cost.
Depending on their own situations, borrowers are allowed to draw loans in different periods and repay individually within the credit line and loan period stated in the contract, with less capital occupied and lowed financing cost;
3. Simple steps.
Within the credit line and loan period stated in the contract, loans can be drawn in different periods and repaid individually. Credit line can be used revolvingly, with no need to apply and wait for approval each time.
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. Business in conformity to national industry policy, normal business operation, sound growth, marketable products, and good prospect;
4. Able to fulfill the obligation of the contract and repay debt, with no bad credit history;
5. Able to provide real estate collaterals besides using certificate of deposit as pledge or other low-risk guarantee;
6. Borrower who wishes to draw or repay loan through Internet banking or telephone banking has to register as a certificate user of ICBC corporate internet banking or corporate telephone banking;
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.