Requirements for the Borrower
·The borrower is a business entity or organization that is registered with an industry and commerce administration (or a higher-level regulatory authority), and has completed annual inspection procedures with such an authority;
·The borrower’s business and investment activities relating to the project comply with government policy;
·The borrower has a healthy financial system and has submitted true and accurate financial data;
·The applicant holds a settlement account with CMB;
·The borrower has the financial ability to repay the principal and interest of the loan at maturity;
·The borrower holds property for the mortgage or pledge, or a third-party guarantee;
·Unless otherwise required by the State Council, the cumulative equity investment of a limited liability or a joint stock company must not exceed 50 percent of its net asset value;
·The borrower holds a valid loan note;
·Other requirements of CMB.
Documents Required for the Loan
·A written loan application and a board resolution for approving the loan application (if necessary);
·Articles of Association, business license, and the certificate of the legal representative;
·Financial statements of the borrower;
·Certificate of the loan’s intended purposes, e.g. a purchase or sale contract;
·Documents relating to the guarantee, pledge, and mortgage;
·Other documents deemed necessary by CMB.
·A variety of currencies including renminbi and foreign currencies;
·A flexible term from under a year (short term loans) to 1-3 years (mid-term loans);
·CMB encourages and prioritizes loans pledged against renminbi or foreign currency assets.
All the contents stated above are for your reference only. Please consult the local branch of China Merchants Bank for further information. China Merchants Bank reserves the ultimate right of interpretation for the contents in this page.