1. Business start-up guarantee loan is a policy loan issued by a bank, which aims at the financial difficulties faced by people who meet the loan conditions in the process of self-employment, self-employment or partnership organization. Its purpose is to help more workers achieve employment and re-employment through credit support.
2. Business guarantee loans are supported by self-employed, self-employed or partnership employees who are under 60 years of age, healthy, honest and trustworthy, have certain labor skills and hold employment and unemployment registration certificates issued by human resources and social security departments. Including: retired soldiers in cities and towns, college graduates, disabled people, farmers who go to work in cities and return home to start businesses or engage in secondary and tertiary industries nearby, and individual industrial and commercial households who meet the loan conditions.
Secured loan means that when the borrower fails to provide the mortgaged (pledged) property in full, the third party recognized by the lender shall provide joint liability guarantee.
Article 386 of the Civil Code of People's Republic of China (PRC) * * * If the debtor fails to perform the due debt or the parties agree to realize the security interest, the security interest holder shall enjoy the right of priority compensation for the secured property according to law, except as otherwise provided by law.
Article 387 Where a creditor needs security in order to ensure the realization of his creditor's rights in civil activities such as lending, buying and selling, he may establish a security interest in accordance with the provisions of this Law and other laws.
Article 390 During the guaranty period, if the mortgaged property is damaged, lost or expropriated, the owner of the secured property may get the insurance money, compensation or compensation in priority. If the performance period of the secured creditor's rights has not expired, the insurance money, compensation or compensation may also be deposited.
Article 392 Where the secured creditor's right is secured by both things and other things, if the debtor fails to perform the due debt or the parties agree to realize the security right, the creditor shall realize the creditor's right in accordance with the agreement; If there is no agreement or the agreement is unclear, and the debtor provides the security of the property himself, the creditor shall give priority to the realization of the creditor's right with respect to the security of the property; Where a third party provides a property guarantee, the creditor may realize the creditor's right with respect to the property guarantee, or may require the guarantor to assume the guarantee responsibility. The third party providing the guarantee shall have the right to recover from the debtor after assuming the guarantee responsibility.
Article 408 Where the mortgagor's behavior is sufficient to reduce the value of the mortgaged property, the mortgagee has the right to request the mortgagor to stop his behavior; If the value of the collateral decreases, the mortgagee has the right to demand the restoration of the value of the collateral or provide a guarantee corresponding to the decreased value. If the mortgagor fails to restore the value of the collateral or provide guarantee, the mortgagee has the right to demand the debtor to pay off the debt in advance.