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Fixed Asset Loan

Introduction

Fixed assets loans are issued to address the financing demand of the enterprises' fixed assets investment activities. Enterprises' investment activities in fixed assets include: infrastructure construction, technology transformation, new product development and manufacturing and related activities such as house purchase, engineering project construction, technology and equipment purchase and installation.

Features

1- Generally the loan amount is relatively large.

2- Generally the term is relatively long, most are long or medium term with installment schedule.

3- On the way of the loan guarantees, except providing the necessary security, generally require taking the new added fixed assets of the project as mortgage.

4- Regarding the application process, the loans should be applied and approved on case by case basis.

Interest Rate

Generally use the floating interest rate, and implemented in accordance with loan interest rate management regulations of our bank and the agreement of the loan contract.

Charges

All charges for fixed assets loans are subject to the contract.

Target Customers

The applicant shall be a registered legal person or other economic organization with valid business license or qualification certificates.

Application Qualifications

1- The applicant shall have valid business license or qualification certificates.

2- Have good economic benefits, good credit status , strong debt paying ability and perfect administration system.

3- Implement loan guarantee acceptable to the bank.

4- Open basic deposit account or general deposit account at Bank of China.

5- The fixed assets loan projects should be in line with local law, regulation and industrial and credit policies.

Procedure

1- The borrower submits a loan application to the bank.

2- The borrower submits relevant documents, including business license, articles of association,  financial reports of the past three years, project approval and the approval documents, project economic benefit analysis, usage and repayment plan and so on.

3- The bank conducts survey and evaluation before disbursement, and investigates the borrower's credit rating and legitimacy, security, profitability of the borrower, verifies the conditions of collaterals, pledge, guarantor to form the assessment.

4- After the bank's internal review and approval, and with the consent of both parties on the terms of the loan contract, mortgage contract, guarantee contract, the parties sign such contracts.

5- The borrower handles the mortgage registration and other relevant procedures agreed in the contracts.

6- The borrower submits the withdrawal application.

7- Bank funds are credited into the account, and the borrower withdraws the money.

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