The Bank's Micro-Agility, a convenient personal consumption loan product launched by the Bank of Agriculture of China, provides a convenient and flexible form of credit to meet the consumer's needs. However, some users may need to apply for a renewal to meet longer-term funding needs. So, what are the conditions for the renewal of the agro-facility loan

What are the conditions for the continuation of the agro-business micro-lending

First, the conditions for the renewal of the ACAL microlending include, inter alia, repayment records and individual credit appraisals. The bank reviews the repayment records of the renewing applicant, and if the applicant has a good record of past repayments on time, the chances of applying for renewal are relatively high. At the same time, individual credit appraisals are an important consideration in renewing applications. If the applicant had good personal credit and demonstrated a better willingness and ability to repay the loan, the pass rate would also be higher。

Second, the borrower applying for a renewal would also have to meet certain loan balances and repayment deadlines. Usually, the amount of the loan renewal cannot exceed a certain percentage of the balance of the original loan, depending on the bank ' s policy. In addition, the repayment period for the renewal of the loan normally requires a grace period to be added to the original loan period. This is to give borrowers more time to repay their original loans and to provide longer-term financial support。

In addition, the renewal of the AAMF would need to take into account the applicant ' s income position and stability. The bank assesses the ability and stability of the applicant to repay the loan on the basis of the source and amount of income. In general, stable wage income and a legitimate source of income are important guarantees for renewal of loan applications。

Finally, the credit position and past loan status of the renewing claimant may also affect the terms of the renewal. If the applicant has had past payments or arrears, the conditions for renewal may be relatively stringent. In addition, the bank determines the conditions for renewal based on the applicant ' s personal credit rating and risk tolerance。

In the light of the above, the conditions for the renewal of the Bank's microlending include, inter alia, a number of considerations, such as repayment records and individual credit appraisals, loan balances and repayment term requirements, income status and stability, credit status and past loans. Only if these conditions are met will the borrower be able to apply for a successful renewal。