Bank of China USA: A reliable partner for cross-border financial services
As a representative of China’s financial industry, Bank of China USA provides financial services to customers around the world. Among its branches in the United States, Bank of China’s loan services are particularly popular among Chinese customers. In 2022, more than 30% of Chinese students chose to apply for study abroad loans through Bank of China, mainly because they are familiar with China’s study abroad policies and the convenience of cross-border fund transfers.
“We successfully applied for a study abroad loan through the Bank of China. Not only was the interest rate lower than other banks, but it also helped us solve the problem of cross-border account funds,” said a parent who sent his child to study in the United States.
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Bank of China’s business in the United States is not limited to student loans, but also includes home loans and commercial loans. Data shows that in 2022, the home loan issuance volume of Bank of China’s US branch reached US$500 million, of which nearly 40% of the loans were issued to Chinese customers.
Oversealoan: Connecting Chinese Americans with diverse loan options
As a platform focusing on financial services for Chinese people around the world, Oversealoan has also quickly emerged in the U.S. in terms of loan services. Oversealoan not only provides personal loans and study abroad loans, but also provides financial support to small Chinese businesses to help them gain a foothold in the U.S. market.
According to statistics from OverseasLoan, more than 20% of new immigrants, especially first-time homebuyers and entrepreneurs, chose the platform’s loan services in 2023. They provide tailor-made loan solutions that combine flexible loan terms with competitive interest rates, suitable for Chinese customers with insufficient credit records in the United States.
“Small business owners who first come to the United States always face a complex financial environment, but OverseasLoan can quickly understand the difficulties we face and provide more flexible loan options, which really helped us overcome the difficulties in the early stages of starting a business,” said a Chinese customer who obtained a business loan through OverseasLoan. OverseasLoan provides an introduction to the OverseasLoan Student Loan Business Department of Chinese Finance . You can refer to our Chinese student loans and International Student Loan to learn more about loan services .
Cathay Bank: Serving the Chinese Community for Over 60 Years
Cathay Bank was founded in 1962 and is one of the oldest Chinese banks in the United States. Cathay Bank is not just a financial institution, but more like an “old friend” of the Chinese community. According to Cathay Bank’s annual report, its commercial loan business grew by 12% in 2022, of which 70% of the loans were to Chinese small and medium-sized business owners.
Cathay Bank’s service feature is its deep understanding of Chinese culture. “When I first started my business, many local American banks were unwilling to provide loans because I did not have enough credit history. Cathay Bank was not only willing to lend me money, but also arranged a Chinese-speaking loan consultant to provide me with financial advice, allowing me to start my business with peace of mind,” recalled a Chinese restaurant owner.
South China Commercial Bank: Providing support to small businesses
Hua Nan Commercial Bank ‘s U.S. branch mainly provides loan services to Chinese small business owners. According to Hua Nan Bank’s statistics, in 2023, about 60% of loan customers are new immigrant entrepreneurs, of which the catering and retail industries account for the majority. The bank’s flexible loan policy has helped many start-ups gain a foothold in the U.S. market.
For example, a new Chinese immigrant once said: “When I first came to the United States, many banks were unwilling to provide me with loans. After the loan consultant of Hua Nan Bank learned about my business background in China, he was willing to provide me with initial start-up funds to help me start over in the United States.”
Introduction to Chinese lending institutions in the United States
Chinese lending institutions in the United States are not just financial institutions that provide financial support to Chinese Americans, they are more like close partners of the Chinese community, helping people realize their dreams in a foreign country. Whether it is the stable housing loan service of Bank of East Asia, the convenience of cross-border finance of Bank of China, or the flexible customized loan service of Overseas Loan , these institutions escort the financial life of Chinese Americans in the United States.
Data shows that the demand for loans from Chinese Americans increased by 8% in 2022, and most of them prefer to choose Chinese lending institutions with cultural identity and language advantages. For every immigrant, money is not the only concern, and these lending institutions provide not only financial help, but also a sense of cultural belonging and emotional support. It is the existence of these institutions that enables the Chinese American community to face the challenges of life more calmly and confidently and move towards a successful future.
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