This is illegal. It is illegal to induce loans. According to relevant information, Article 266 The crime of fraud defrauds public or private property, and if the amount is relatively large, it shall be sentenced to fixed-term imprisonment of not more than three years, criminal detention or public surveillance, and shall also be fined; if the amount is huge or there are other serious circumstances, it shall be sentenced to fixed-term imprisonment of not less than three years but not more than ten years and shall also be fined; If the amount is especially huge or there are other especially serious circumstances, he shall be sentenced to fixed-term imprisonment of not less than 10 years or life imprisonment, and shall also be fined or confiscated.