What is online micro-loan?

Legal analysis: Small loans are comprehensive consumer loans centered on individuals or businesses. The loan amount is generally more than 10,000 yuan and less than 200,000 yuan. The application process generally requires a guarantee. Microfinance is an extension of microfinance in terms of technology and practical application. Small loans in China: mainly serve agriculture, rural areas and farmers, and small and medium-sized enterprises. The establishment of small loan companies reasonably concentrated some private funds, standardized the private lending market, and also effectively solved the financing difficulties of rural areas, farmers, and small and medium-sized enterprises. Currently, there are also personal small-amount loans provided for office workers, generally ranging from 1,000 to 50,000 yuan. Most of them do not require collateral, but credit and information review are relatively strict.

Legal basis: "Interim Measures for the Administration of Personal Loans"

Article 3 Personal loans as mentioned in these Measures refer to loans issued by lenders to qualified natural persons for personal consumption, Loans in domestic and foreign currencies for production and operation purposes.

Article 4 Personal loans shall follow the principles of legal compliance, prudent operation, equality and voluntariness, fairness and integrity.

Article 5 Lenders should establish an effective full-process management mechanism for personal loans, formulate loan management systems and operating procedures for each loan type, clarify the corresponding loan objects and scope, implement differential risk management, and establish loan Assessment and accountability mechanisms for each operation link.