any 1 working in a bank or so? need personal loan to expand my work
curently im working as a technician.....part worker part boss

cos im umploy by my friends father which is helping him with electrical stuff n so, but at the mean time i can install cctv n such at my own time......

he got a shop n he allow me to display some of my stuff there providing i did the renovation n stuff my self.

so any help is much appreciated? my salary is up to rm2k every month(basic, patrol allowance n such), xtra income not included. i dun really hav a bank account, do i need 1 for the loan?

Check Out HSBC's anytime money. Personal loan from 5K to 100K depending on eligibility. Of course you musn't be blacklisted or brankrupt before...

http://www.hsbc.com.my/my/islamic/perfin.htm

This post has been edited by loki: May 1 2006, 07:15 PM

haha

i ask along b4.......10% each month!!!!! kakakaka, i got friend doingmah

hsbc, thx let me check 1st...

izit very difficult to get the loan?

for ur case, mayb u could get around 6K with interested 10% a year, which of coz if you could provide prove to the bank which u making around 2k/mth.

then use credit cash for fast cash,

of coz, still can go for Ah Long with high interest.

u do the maths, see which suit you more.

6k...........not really enof, i need roughly 20k........

ah long i worry i canot settle it in time.......

ah long is always not a choice if u wanted to borrow money from. their interest is way higher then bank. Better think twice.

not only interest..when u dun have money to pay back..u will be in big trouble. avoid them if possible.

To get 20k with yr salary, pelit sikit. Do you have any assets (eg house, land ) to use as security?..if belong to your parents or relatives also can. Even if you got FD also can.

hmmm.......belong to my parents....but duno they agree with such moves or not

I see this case as tough one. Coz there is no supporting documents to say that you are earning this much. But hsbc loan max is times 3 of your current salary, means max u can borrow up to RM6k.

Other banks that provide personal loan is Bank Rakyat, Citibank and Stan Chard. The easiest to get a loan so far without much hassle for documentation is Stan Chard, where you only need your photocopy of credit card and IC. No need salary slip

credit card......i need to borrow from my brother edilah......

how much is the credit limit for the credit card if i gona need 20k?

About RM8k with no outstanding balance. Else they could just pass you RM16K. with high interest rate

high intereted rate.....how high?

Would your business turnover allow you to pay your credit card charges within the interest-free period? If not, the non payment interest charges will kill you!

Better talk to your parents. If you can convince them on your business venture, most parents would help the kids along.

Sorry if I sound offensive, But if you can't secure a loan eventually, perhaps it is better to do it slow and steady. Continue with your present arrangement where you get to do some extra without incurring any capital outlay. Keep your expansion plan until you have some savings to get you started.

Borrowing high interest loans eg fr credit card may not be feasible. Is your profit margin higher than the interest ?

Good luck in your endeavour!

maybe up to 2% per month based on monthly rest. Credit card is daily rest which means credit card is higher. Well it depends fully on the bank.

The best way to start up the business is by your family's help. It proves as a "motivation" on hardwork and getting the money back so they can quit nagging you.

try Citibank.

Xtorm,

In general, small business failed because they expand too fast and they run into cash flow problem. Why do you need 20K to begin with?? At most you only need one CCTV system to demo. You can even offer a special price to your friend's father shop to install that CCTV for him. He can have the CCTV and you can demo it live.

The rest of the stuff that you need is some brochures, business cards, a table.

A CCTV at retail is only RM3,888.

Do not start big and put yourself into a big hole.

Dreamer

This post has been edited by dreamer101: May 2 2006, 08:24 PM

if i can get 20k i gona take some direct from chinalor......lower price for the customer too.....

im reconsidering the whole thing now, thx for the advice!

Do not stock inventory. That is a very bad idea. CCTV stuff are like PCs. Aka the price can drop very fast and it is dropping. For example, you use a hard disk on the CCTV. How do you know how big a hard disk that the customer wants and needs?? The hard disk price is dropping every day too.

If this is really the business that you want to go into, you should look at some target niche area. For example, how much will it costs to do this CCTV thing for a kindergarden so that their parent can watch their kids over the internet?? I think this is a standard feature in the CCTV system that I saw.

What is your selling point?? Price cannot be the only differentiator.

Dreamer

Just think of the bad thing before you blind yourself with the good stuff.

Talk to as many people as you can about your plans and listen to their opinion with a clear mind. If you can't solve the problems they present to you, chances are things are not as promising as it seems.

Do you know the procedure in taking imported goods into Malaysia?
Is the manufacturer realiable?
What happen if a unit if faulty... send back to china and wait for new one?
Does this shop have a viable business?...will it close down in a few months?

Reality is normally much harder to swallow.

i neveer got the chance to read all the posts

but lemme give u a friendly advice: dun ever use ur credit card to make a "personal loan" yourself or draw quick cash

the charge is daily and even though very little (1.5% per day IIRC) totals up to 18% per month (this info is from 2-3 web sites i came across)

that's worse than along

By the way, my brother-in-law just installed a CCTV system in his store. It is similar to the CCTV system that you saw in a 99 supermarket. The unit is a self contained pizza box. IMHO, this kind of self contained system looks more reliable and maintainable than any PC based system.

You could check it out whenever you go into a 99 supermarket. The system is the pizza box under the TV inside the supermarket

Dreamer

tose r stanalone unit... price almost same as a pc with monitor, so normally i suggest using pc.

but for shops, standalone unit is still advice



wow!!! i tot they hav 2 option for borrowing money, by credit card or by payslip, both same interested.......

This post has been edited by xtorm: May 2 2006, 10:10 PM

Do your own research. But, I would stay away from the PC version. The maintenance will be very bad. People will be tempted to use that PC for all other stuff which will interfere with the CCTV operation. And, you cannot stop your customer from doing this. You may sell one system to a person but spend the rest of your life maintaining it.

Dreamer

hello... ok, i dont really read all the content in this forum but u can try standard chartered bank and the requirement also quite reasonable...

Try Southern Bank Berhad too.If I am not wrong, they have just launched their Personal Loan package lately.

totally agree with dreamer there. perhaps threadstarter should consult your close family members and get their opinions too on this matter. dont simply make your own decision and start off with the 20k loan! if you cant pay back then your whole life will be gone. i know many ppl out there will RUSH to own their own business and be their own boss but many things cannot simply just rush.

business isn't easy and also must be very careful with the person that doing socalled "partnership" with you. as we all know money is a very powerful elements and even family members will get into troubles as long as money is concern.

my advice to you. go slowly dont simply RUSH!

southern bank term and condition ... u must have a basic pay of rm2500 to eligible for the loan... p/s, if i have a basic of rm2500 will i go and apply for a personal loan ah... stu**d la the terms and condition...

any suggestion for people with Rm6++ per month wage ?

PM me.... maybe we can help you out. Used to do corporate financing in a big firm.... now wanna do freelance. funding is easy to get, provided:

1. you are eligible (no outstanding default loans, not bankcrupt, not listed in CTOS or BMC nd no criminal conviction record)
2. the business is feasible with good return on investment potential
3. how well you present yourself (via your business plan/proposal and in the interview)

PM me or refer here My Webpage

kurt_maisu... try bank rakyat...