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Foreign Currency Loan


 

Introduction

Foreign currency loan refers to the loan granted by the bank through the self-raising foreign currency fund, including five types of foreign currency, USD, EUR, GBP, JPY and HKD.

Features

1. It covers a comprehensive range of usage with main use of meeting customer's demands for foreign currency financing, including enterprises' demands for working capital and for fixed asset investment.

2. According to customer request, its lending interest rate can apply either floating rate or fixed rate. If required, the rate can be swapped from floating rate to fixed rate.

3. Compared with foreign government loans and buyer's credit of foreign banks, our bank's foreign currency loan can be more widely used and help customers purchase equipments and materials from foreign countries.

Currency Type

Five types including USD, EUR, GBP, JPY, HKD.

Interest Rate

The lending interest rate can apply either floating rate or fixed rate. If required, the rate can be swapped from floating rate to fixed rate.

Charges

All fees concerning foreign currency loan should be charged according to the loan contract.

Target Customers

Foreign currency loan is only available to enterprises. Economic entity with enterprise legal person qualification and loan repayment ability, an account of Bank of China, can apply for it.

Application Qualifications

1. Borrowers should be the enterprise (the undertaking) legal person, other economic organization, individual businesses approved by the industry and commerce administration authorities (or the competent authorities), with business license issued by the above authorities;

2. Funds must be used in legal, reasonable and profitable area;

3. The borrower should have foreign currency funds source, if not, it should have certificate of foreign exchange purchase for loan repayment, approved by the foreign exchange administration department;

4. Other relevant requirements of Bank of China.

Required Documents

1. Loan application form;

2. Account opening documents of the borrower;

3. Enterprise legal representative certificate or power of attorney, board of directors resolution and articles of association;

4. Annually inspected business license of enterprise legal person (copy);

5. Audited financial statements of last three years and latest financial statements;

6. Loan cards;

7. Other documents and certificates required by Bank of China.

Process

1. Establish credit relations with the borrower. For enterprise customers of foreign currency loan, sales account manager should conduct admittance criteria examination of the borrower in accordance with our bank's credit rating and relevant regulations on loan.

2. Investigation prior to the loan grant. Sales account manager should conduct comprehensive investigation to loan through field research and other channels based on the status of borrower, guarantor, mortgagor (pledgor) and the mortgage (pledge), specially focusing on such aspects as legality, compliance, safety and profitability.

3. Examination and approval of the loan: loan usage and management.

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