Definition of loan company: A loan company refers to a banking non-deposit financial institution established in rural areas by domestic commercial banks or rural cooperative banks with the approval of China Banking Regulatory Commission in accordance with relevant laws and regulations to provide loan services for county farmers, agriculture and rural economic development. The loan company is a limited liability company fully funded by domestic commercial banks or rural cooperative banks.
Conditions of establishment
(1) Having articles of association that meet the requirements.
(2) The registered capital is not less than 500,000 yuan, which is paid-in monetary capital, and shall be fully paid by the investor at one time.
(3) Having senior managers with professional knowledge and business experience.
(4) Having staff with corresponding professional knowledge and experience.
(5) Having the necessary organizational structure and management system.
(6) Having business premises, safety precautions and other business-related facilities that meet the requirements.
(7) Other conditions stipulated by China Banking Regulatory Commission.