In other words, let's talk about the one-two-three conversions of commercial loans to public pool loans. The first task is to go to the Provident Fund Management Centre and apply for an approval form. The bank of the commercial loan will then clarify the principal amount of your business loan in the application form and determine if you have any overdue issues. After everything goes well, the management centre will assign you to a specific bank site to start processing the Provident Fund trust loan。

How's the business loan going

And here's the key. You need to hand over the original title certificate to the head office of the guarantee company and settle the original commercial loan with the funds in your possession or with the funds of the guarantee company. It will also be recalled that your original commercial loan's other title and other rights write-off application forms are to be submitted to the head office of the sponsoring company or to the point of contact with the trusted bank。

Once taken over by the guarantor company, you will be secured by the Provident Fund loan. With the commissioning of a bank network, when the process is completed, your loan will be transferred to the guaranteeing company. The matter was not closed, and the guarantee company had to help you with the cancellation of other rights in the original commercial loan, while at the same time completing the registration of other rights in the Provident Fund mortgage counter-guarantee. When this is done properly, the guarantee company will notify you of the return of the home title certificate. The borrower ultimately borrows from the Provident Fund to repay the funds borrowed by the guarantee company。

But remember, it's not everyone's turn. Commercial loans to the Provident Fund are conditional: commercial loans are required to be repaid for one year and are not overdue and are in good credit. The property purchased requires an ownership certificate issued by the real estate register. Moreover, only the former borrower or the spouse of the co-borrower could apply. The six-month period of continuous and full-time contributions to the Housing Provident Fund may take 12 months in some areas. Moreover, historically, you have not processed or settled a Provident Fund loan, and can only do so twice at most. If you fulfil the above conditions, you can walk through commercial loans to the Provident Fund。