China Financial Services Holdings (HKG:0605) unit QL Credit Gain Finance granted a HK$18 million loan to a company established in the British Virgin Islands.

The loan has an interest rate of 12% per annum and will be due in one year, according to a Friday filing with the Hong Kong bourse.

A first legal charge/mortgage for a HK$35.5 million residential property in Hong Kong and a personal guarantee executed by an independent third party were pledged as security against the loan.