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> SME Business Loans, Procedure...

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TSamateur
post Jan 29 2007, 03:03 PM, updated 14y ago

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Hi, I'm a newbie here, does anybody know what condition or terms that we need to apply a business loan?

Besides, which bank gives a better offer?
eric84cool
post Jan 29 2007, 03:09 PM

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QUOTE(amateur @ Jan 29 2007, 03:03 PM)
Hi, I'm a newbie here, does anybody know what condition or terms that we need to apply a business loan?

Besides, which bank gives a better offer?
*
why don't u do some homework.....if u r naruto fan...u can use ur sharigan and find out which bank offering the best??hahahaha biggrin.gif
TSamateur
post Jan 29 2007, 03:18 PM

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QUOTE(eric84cool @ Jan 29 2007, 03:09 PM)
why don't u do some homework.....if u r naruto fan...u can use ur sharigan and find out which bank offering the best??hahahaha biggrin.gif
*
Come'on be serious a bit, I'm asking for what I do not know, if I can find it from the internet, I wouldn't have ask it here. If you do know, you can either choose to answer or not to answer my question, but not to humiliate me like that, sorry If I do offend you, I just want to get some help from this forum..
luqmanz
post Jan 29 2007, 05:21 PM

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Loan for what purpose ? Different business, different loan, different bank.
jAs0N-.-"
post Jan 29 2007, 11:03 PM

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if not mistaken, there is a program provided by government name something like Number 9 program...is for business perpose to loan...
damiendamonster
post Jan 29 2007, 11:37 PM

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company must been established more than 3yrs, past 2yrs company must make profit or break even...no loss shall be declared..subject to all directors financially cleans, rm50 Summon oso cannot hv..
so can u tell me wat sort of sme loan u wanted to take..
business loan, overdraft facility, bankers guarantee and LC..
pls state which kind of loans

This post has been edited by damiendamonster: Jan 29 2007, 11:38 PM
TSamateur
post Jan 30 2007, 08:56 AM

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QUOTE(damiendamonster @ Jan 29 2007, 11:37 PM)
company must been established more than 3yrs, past 2yrs company must make profit or break even...no loss shall be declared..subject to all directors financially cleans, rm50 Summon oso cannot hv..
so can u tell me wat sort of sme loan u wanted to take..
business loan, overdraft facility, bankers guarantee and LC..
pls state which kind of loans
*
Business loan....

I need funds to start a new business, what you are saying is, if the company is a newly established company, the bank won't approve the loan?

Thanks for the help guys !! notworthy.gif
realman
post Jan 30 2007, 08:01 PM

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same question here

damiendamonster
post Jan 31 2007, 12:25 AM

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QUOTE(amateur @ Jan 30 2007, 09:56 AM)
Business loan....

I need funds to start a new business, what you are saying is, if the company is  a newly established company, the bank won't approve the loan?

Thanks for the help guys !!  notworthy.gif
*
hardly for bank grant u the loan...since wanted to start a new business,
for i wat know, if u in importing cars business they might look into u plus u r malay, BCB eagerly to help u...may i know wat sector r u goin to venture..
gaming, jewelleries, entertainment, CYBERCAFE, and furniture r avoid sector..

This post has been edited by damiendamonster: Jan 31 2007, 12:26 AM
TSamateur
post Jan 31 2007, 09:40 AM

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I have asked one of the staff in the bank, she works in commercial banking department. She did say that if we want to start a new business and to borrow loan from the bank, we need a guarantor. She asks me to go to either SME bank or CGC to ask for more information.

If one of them become our guarantor then the bank will consider this business loan. Hope this help, because if you are goin to apply personal loan, it is very hard to maintain the business....
damiendamonster
post Jan 31 2007, 10:42 AM

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u can try SME bank..sorry to say it's hard other races to get the loan........onli for bumi
luqmanz
post Jan 31 2007, 12:08 PM

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QUOTE(damiendamonster @ Jan 31 2007, 10:42 AM)
u can try SME bank..sorry to say it's hard other races to get the loan........onli for bumi
*
Actually SME bank loans don't have racial preference. At least that's what stated in their procedures.

If the workers there are being choosy, nothing much we can do.
Winfeel
post Jan 31 2007, 05:04 PM

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QUOTE(amateur @ Jan 31 2007, 09:40 AM)
I have asked one of the staff in the bank, she works in commercial banking department. She did say that if we want to start a new business and to borrow loan from the bank, we need a guarantor. She asks me to go to either SME bank or CGC to ask for more information.

If one of them become our guarantor then the bank will consider this business loan. Hope this help, because if you are goin to apply personal loan, it is very hard to maintain the business....
*
Is is possible ? I am not sure.But u can try.Good luck to ya.
CGC=Credit guarantee corporation.

If u have a good bank statement,u can try to ask for CGC direct access scheme.Hope this can apply for other forumers icon_rolleyes.gif
TSamateur
post Feb 1 2007, 11:30 PM

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QUOTE(Winfeel @ Jan 31 2007, 05:04 PM)
Is is possible ? I am not sure.But u can try.Good luck to ya.
CGC=Credit guarantee corporation.

If u have a good bank statement,u can try to ask for CGC direct access scheme.Hope this can apply for other forumers  icon_rolleyes.gif
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Wah...your wish me luck looks a bit scary, looks like I'm into some kind of trap or something else... sweat.gif
jinyee80
post Feb 1 2007, 11:56 PM

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QUOTE(amateur @ Jan 30 2007, 08:56 AM)
Business loan....

I need funds to start a new business, what you are saying is, if the company is  a newly established company, the bank won't approve the loan?

Thanks for the help guys !!  notworthy.gif
*
When you gonna start a new business, you require venture capital which normally commercial banks will not finance you unless you have corporate guarantee from a strong holding company.

So, if you gonna run a PLC, you might invite some people to become the shareholders and from that you derive the working capital to finance your business.
Otherwise you can obtain personal loan, up to RM50k per individual.

Anyway, it really depends on your business venture, which industry you gonna in. In addition, if you could provide your whole list of suppliers and buyers in your business, you still stand a chance to obtain loan from the banks, of course inclusive a guarantee from holding company.


Jinyee
starblade
post Feb 3 2007, 09:31 AM

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tough luck dude... its very hard to get SME loans to start up a company in Malaysia. I had tried 2-3 times myself, got "shot" down!!! No offence, but if you are a bumi, you changes are above 60%... Else, you will have to be very lucky to find or get to know some Datuks/towkays to backed you up...
k33vin
post Feb 3 2007, 06:18 PM

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QUOTE(amateur @ Jan 29 2007, 03:03 PM)
Hi, I'm a newbie here, does anybody know what condition or terms that we need to apply a business loan?

Besides, which bank gives a better offer?
*
Are you talking about an established company?

if your company already established for more than 3 years, you can apply for Business Installment Loan from Stand.Chard. Collateral Free with interest in between 7% to 9%... and this depends on your company payment history, if u got good record, promp payment, then u should able to get in between 7% to 8% if not mistaken.

Click Here

ofcoz, other bank also provide such loan to businesses..Citibank & PB also got.
alqa
post Feb 24 2007, 02:23 PM

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yeah in Malaysia, commercial banks are not so keen to give out loans to startups and new businesses. you need to be in operation for at least 2 years with good performance. then you still need to prove your ability to pay the loan as well as convince them the viability of your business plan/idea/venture.

for startups its you'll have better chance with development bodies such as SMIDeC, MDeC, PNS, SME Bank, etc under their entrepreneurial development fund or sumptin. but once you enrolled under such development scheme/program, you are under their scrutiny. sometimes they just want to see your monthly progress report and accounts, sometimes, they want an equity in your business... and sometimes, they even appoint one of their staff as a director in your company.

furthermore, depending on your company performance, commercial banks would require guarantor and/or collateral as well. if you have a standup background, with some hard assets, maybe the CGC woul be willing to guarantee you, otherwise you're back to square one.

whatever it is, all commercial banks or development bodies/bank will only provide from 80% to 90% of the required fund. meaning that you still need to have your own cash for that remaining amount.

if you are looking for loans less than 50k forget it, its too small, they'll just ask you to get personal loan instead.
memkingdom
post Jul 31 2008, 07:00 AM

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thanks to alqa, yours reply is the most clearest one so far compare with others thread. Are you in this business loan line ?
oweng10my
post Jan 14 2010, 11:30 AM

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QUOTE(amateur @ Jan 29 2007, 03:03 PM)
Hi, I'm a newbie here, does anybody know what condition or terms that we need to apply a business loan?

Besides, which bank gives a better offer?
*
Apply Business Loan need 3 year experience. Turnover 100K per month

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