What about Ali's microfinance? Is it reliable?

With the continuous popularization of loan business, there are more and more micro-loan products. For example, Ali microfinance, a pure credit loan, has attracted a lot of attention. So, what about Ali's microfinance? Is it reliable?

Ali Microfinance is a pure credit loan product provided by Ali Finance for Alibaba members. Ali microfinance is unsecured and unsecured. The loan products are for Hangtong members and China suppliers, and the loan object is the legal representative of member enterprises (individual version is the actual operator).

Ali microfinance conditions:

1) Alibaba TrustPass member or China supplier member whose member registration time exceeds 6 months (if changing from ordinary member to paid member, counting from the time of registration as ordinary member);

2) industrial and commercial registration, a member enterprise, registered in Hangzhou (registered in Hangzhou for individual children);

3) The applicant is a China citizen (excluding Hong Kong, Macao and Taiwan) with the age of 18-65, and is the legal representative of the enterprise (the individual version is the actual operator);

4) Personal Alipay account with real-name authentication.

Advantages of Ali Xiaowei over bank loans;

1, which saves time and effort quickly.

Individuals need to go to the bank at least dozens of times a day to apply for a loan from the bank for a week or so. Finally, whether he can successfully borrow money may depend on whether your hunger conditions are met. Therefore, the procedures for bank loans are too complicated and the threshold is relatively high. Borrowing money takes a lot of time and energy, so in comparison, online microfinance is much simpler.

2. Security-economy and strength

Many people may think that peer-to-peer lending is risky, and it seems to be the case. The risk of online lending is indeed relatively large, but this risk is definitely not a scam or what you think. This risk mainly comes from repayment. Because it is a small loan, and it is an unsecured and unsecured private small loan, its expected annualized interest rate will be higher.