If the loan cannot be repaid at maturity, the formalities for extending the repayment time may be handled upon approval. The maturity of the payment is called extension.

If the enterprise fails to repay the loan on schedule due to special circumstances, it shall apply and explain the situation. After the approval of the bank, the repayment time can be extended, but the repayment procedures need to be handled again, otherwise it will be handled in loans overdue.

Paying back on time is a credit problem. If it is seriously overdue, you will be complained.

Loan extension refers to the procedure of extending the repayment time after approval when the loan cannot be repaid at maturity. It is a credit principle that enterprises must abide by, and it is also a prerequisite for banks to speed up the turnover of credit funds.

If the enterprise fails to repay the loan on schedule due to special circumstances, it shall apply and explain the situation. After the approval of the bank, the repayment time can be extended, but the repayment procedures need to be handled again, otherwise it will be treated as overdue loans.

Baidu Encyclopedia _ Payment for Goods