Introduction
Wanda Group, one of the largest conglomerates in China, is now offering financial assistance to individuals and businesses through its new subsidiary, Wanda Loan. With an aim to help people achieve their goals, Wanda Loan provides fast, easy and hassle-free access to funds. However, before applying for a loan, it is important to understand the new application requirements set by the company.
Personal Loan Requirements
For individuals seeking financial assistance through Wanda Loan, there are certain requirements that need to be met. To begin with, the applicant must be at least 21 years old and a resident of China. The individual should have a steady job or a regular source of income to prove their ability to repay the loan. They should also have a bank account and a valid ID. Additionally, the loan amount and repayment period will depend on the applicant's credit score and financial history.
Business Loan Requirements
Wanda Loan also provides financial assistance to small and medium-sized businesses. Companies seeking a loan must fulfill certain requirements to be eligible for financing. To start with, the company must have been in operation for at least one year. They should be registered in China and should have a good business credit score. The company should possess a business license and other relevant documents. The loan amount and repayment period will be determined by factors such as the company's financial standing and future potential.
Collateral Requirements
Unlike traditional lenders, Wanda Loan does not always require collateral when approving loans. However, depending on the loan amount and the borrower's creditworthiness, the company may request collateral to secure the loan. This collateral can be in the form of real estate, vehicles, or other valuable assets. It is important to note that if the borrower fails to repay the loan, then the collateral can be seized by the lender to cover the outstanding amount.
Conclusion
Wanda Loan offers an attractive and convenient option for acquiring funds for personal and business needs. However, it is important to meet the necessary criteria to be eligible for a loan. With the new application requirements, Wanda Loan is ensuring responsible lending practices while providing financial assistance to those in need.
