Bank Loans

9 Months Ended

Sep. 30, 2019

Bank Loans

6. Bank Loans

The Company had outstanding short-term loans with following financial institutions as detailed in the table below:

Lender	Due Date	Interest rate			2019		2018
Bank of Communications – Jinmen Branch	3/21/2019		10.50	%			$	261,763
Bank of Communications – Jinmen Branch	3/31/2020		6.09	%	$	140,135		-
					$	140,135	$	261,763

The loans from Bank of Communications are guaranteed by Hubei Jinzhuan Guarantee Corporation Limited.