how to apply for business loan and maximum how much can go? what criteria need to fullfil? what document needed and maximum can loan how much?

Before apply for business loan, you must decide how much you want to borrow and tell the bank why you are applying for the loan, the bank will also ask for securities, do you have any securities to pledge to the bank to secure the loan?

Document wise, the common ones are audited accounts, form 9, 24, 49. After that the bank have study your financial results and assess the value of your securities, only then the bank will tell you whether your loan have been approve.

what about those self employed? securities? eg? property?

minimum how much bank will borrow? half million?

The bank's concern is whether the money they loan is secure or not and do you have the ability to repay the loan. It doesn't matter whether you are self employed or not.

Your business must be sustainable and the loan must be used for the purpose of the business. There is no limit to the loan amount if they bank is satisfied that lending to you is safe and secured.

i came across hlb for their iou pl. offers quite good, interest 9.6%. 9X of my salary.
is it gooding?
any reviews for hlb?

Are you sure the interest rate is 9.6% per annum? What I understand is the rate is 1% per month/12% per annum.

I have also never heard bank would offer 9x salary. Because is that is true, your monthly payment would definitely exceed 60 debt service ratio.

which bank offer the lowest interest rate?
10k for 3 years. salary 2k only.

what i found on imoney the lowest interest seems to be Alliance, 7.88%
tried to search about Alliance PL on other forum but no ppl talk about it, i wonder why?

Maybank 8% but only for salary above RM2.5k..

hi, i wanted to make a personal loan of RM10k..repayment period of 1 year..wat is the best deal i could get?

Hi sifus, I would like to seek your advise and opinion on the following matter.
Currently, I and my partner is venturing into an F&B business est. requires about RM 250K- RM300K startup.
Initial idea of raising startup capital from loans.

My condition
Monthly income RM5k with 1 property commitment and credit cards.
Outstanding of CC all settled promptly.
I was thinking of seeking loans of about RM100K-RM200k. Will that be possible or would you advise that I seek other alternatives?

I have tried consulting banks about SME loans but their requirements are that one of it is that, the business that I am in should have an active 3 years of record. So, this wouldn't do for my case.



This post has been edited by wei.wei: Aug 27 2013, 04:36 PM

Normally bank offer based on your income, maximum would be around x10 frm your income. If u wanna get Rm100k from 1 single bank would be kinda hard. My advice : apply several p.loan frm several bank.

Alliance is 1 of the smallest bank in malaysia I did encounter some client doesn't even know there is a bank name ' Alliance ' , not much info u can get frm web

Are you a government servant ? i believe those two companies only offers personal loan package for gov staffs and related.

yeah i was advised from the sales ppl in mach branch in midvalley they said 9.6% with 9 times the salary and she said its promor period.

I even encounter some sales agent offer up to 10times+ salary, but the words coming out frm sales agent instead of the bank. Some sales agent just simply mark up the loan amount just to get submission until the end it might be less than 9 times of your salary.

I would say bank offer based on your overall details, such as salary, risk level ( low, mid or high ) , ccris, scoring & etc.
But sometimes there are some special cases can offer up to 10times or even higher

i don't understand why bank still need us to submit document and statement.. can't they get it in the first place online services by epf/bank? i have once just give my i.c. number and they already know my ccris.. ! so troublesome

If 2/3 years back we can direct use promp to offer client loan / credit card without any income document if the client does have a credit card more than 1 year. But since bank negara come out with a new policy which is income document. Promp case no longer available.
It's very huge impact for the bank, clients and also sales agent.

Btw Bank can't simply call up to KWSP to verify your EPF due to private & confidential unless your salary credited to the same bank that u applying, the sales agent can direct print out frm own bank system. I believe all of the sales agent will try their best to assist client on the loan approval, and same goes to myself. No approval = no commission hahaha

Need a personal loan but currently on high commitment coz of credit cards.

Those who think can get me a loan, pse PM me. Thx

hi. am a teacher with an annual income of 36k. whats the best personal loan out there for gomen staff? bank rakyat i-aslah? 3.3%?
might be taking 30k for 3 years tenure. huhu

thanks

hi..just want to ask, if my salary doesnt come with epf socso deduction, am i still eligible for applying personal loan? just have one commitment ,asb loan, rm597 monthly ,my slary rm3.5k.. any info? tq

so do you have any documented proof of constant income? or and any credible assets that can be used as a collateral?

This post has been edited by yklooi: Sep 6 2013, 07:26 PM