Application Requirements And Procedures Of Small Loan Companies

Capital requirements: the minimum is not less than 10 million yuan. The registered capital of the company is not less than 10 million yuan, and the registered capital of Limited by Share Ltd is not less than 20 million yuan.

All registered capital shall be paid in real capital, and the largest shareholder (initiator) shall not be paid more than 20% by the investor or the sponsors at the same time. The shares held by other single shareholders and their associated parties shall not exceed 10% of the total registered capital of the small loan company.

Shareholder qualification: foreigners can also be a shareholder of the largest shareholder (initiator), the net assets of more than 20 million yuan and the asset liability ratio is not higher than 70%.

In addition, the largest shareholder (initiator) and other legal person shareholders should also have the legal person qualification, the legal representative of the enterprise should have no criminal record, the enterprise should have no bad credit record, make a profit in the first two years of the stock market, and have strong management and financial strength.

The largest shareholder of a company is a natural person. It should comply with the relevant requirements of the company law, and has no criminal record and bad credit record.

Under the guidance of the local government at the county level, the first largest shareholder (initiator) will decide the other shareholders of the small loan company through negotiation.

The shareholders of the small loan company must comply with the quorum requirement.

A limited liability company shall be funded by 50 shareholders, and the Limited by Share Ltd shall have 2 -200 sponsors, of whom more than half of the sponsors shall have domicile in China.

Qualification of senior executives: proficient in financial knowledge, directors should have financial knowledge suitable for their duties, associate degree or above, and have been engaged in relevant economic work for more than 3 years. The chairman and manager should be engaged in banking for more than 2 years, or be engaged in related economic work for more than 5 years, with junior college degree or above.

Application procedures: apply to the county (city, district) government for application materials submitted to the county (city, district) government.

The application materials were examined by the county (city) government after the preliminary examination, and the joint meeting of the provincial microfinance companies pilot work was examined and submitted to the municipal government for record.

According to the approval documents, registration procedures and business licenses shall be registered with the local administrative departments for Industry and commerce according to law.

Within 5 working days after receiving the business license, the local public security organs, the China Banking Regulatory Commission and the branches of the people's Bank of China shall submit relevant information.