1. Target customer and application requirements
Target customers are local residents who live outside the outer-ring road, or live inside the outer-ring side but their work, business and life are closely related to the “3 agricultural issues”.
1) The applicant should be natural person of full civil capability, more than 1 years old (inclusive), and hold valid identity proofs.
2) The applicant should be registered agricultural residence, and have fixed residence in Shanghai.
3) The applicant should be engaged in agricultural-related business in the service area the lender is operating, and have never applied for a loan for the operating business/project. If the applicant is individual business owner or self-employed, the applicant must be the person registered on the business license.
4) The business should be under normal operation, with reliable source of income, and being capable of executing the loan contract and repaying principal and interest.
5) The applicant should have good credit record, without any debt disputes or criminal record.
6) The applicant can provide with legal and valid loan collateral recognized by SRCB.
2. Loan purpose
1) Funding agricultural production (such as plantation, aquaculture, etc) cost.
2) Funding the business service needs for agricultural and sideline production.
3) Funding the purchasing, production and maintenance of small sized farm machinery.
4) Funding agricultural-related business (such as production, processing, transportation, trade, tourism, etc)
5) Funding other production and operation that meet rural/suburban agriculture industry development.
3. Credit limit, loan term and interest rates
1) Maximum limit for single loan application is determined based on the applicant’s credit standing and the type of collateral provided.
2) Total credit limit is determined based on the type of collateral (security, pledge or guarantee) provided.
3) Loan interest rates are in accordance with the benchmark loan interest rates of various terms and classes announced by PBoC and the Interest Rate Floating Rules set by SRCB. In principle, interest rates should be raised for guaranteed loan.
