Applications for small-amount guaranteed loans are guaranteed by the micro-loan guarantee fund for laid-off and unemployed persons.

The lender should sign a cooperation agreement with the credit guarantee institution entrusted by the local government to operate this guarantee business.

The loan guarantee cooperation agreement signed by both parties should make it clear that the guarantee provided by the loan guarantee institution to the borrower is an irrevocable joint liability guarantee; the loan guarantee institution should open a special loan guarantee fund account in the handling bank; the balance of liability for small guaranteed loans shall not be

exceeds five times the balance of the loan guarantee fund account; the guarantee institution shall perform the subrogation liability within a period of no more than three months from the date of receipt of the bank's request to assume the guarantee liability.

The above content is for your reference, please refer to actual business regulations.

If you have any questions, please feel free to consult Bank of China’s online customer service.

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