Bank prefer Sdn Bhd. Simply because S/B has paid up capital.

Important is your GET THE LOAN....

2) interest

3) package.

I am understand that each firm is looking for profit, especially banker.

Most of the bank were advertised about the business loan, the business loan is offer for those who is going to expend their business, not for new business.

So, we don't have chance to start the business if we are lack of capital.

I am facing this issue too, wish to start a business but i don't have capital to invest. looking forward to bank for business loan, but all rejected.

SME bank is advertised that the loan is offer for new business , but the condition is your company need to establish 2 to 3 yrs without any lose, do you think this is fulfill as " new business " ?

Yes, these are considered new business. Don't confuse yourself with new business and business start-up

well this thread has been idle for quite some time and i do not want to start a new thread which is of similar nature. this is my question:

currently my brother (who is running a forwarding agency) is looking to acquiring a haulage company and is in need of pretty large amount of capital to do this. he is banking with HL Bank and he went to talk to them about getting a business loan for this purpose. apparently, it's pretty difficult to getting this sort of loan now especially with the tightening of lending by most banking institutions if not all. another thing is most of the banks would want to have some sort of collateral (property is the most preferred one la) in order to make it easier to apply. the thing is the property that we have is now under re-mortgage so i don't think it's an option unless we fully settle the re-mortgage now.

is there anyone here who's from the banking industry who's very familiar with this topic? what other facilities are available in the market for this loan purpose? mind to share the process and documentation required if there's any.

thanks a lot for sharing

This post has been edited by venven81: Aug 13 2012, 12:44 PM

Maybe can try on pledge some FD to get the loan if the company is strong.

How much you are looking for?

In your case, you may want to look for non-collateral loans. Banks that that currently lending are OCBC and StanChart. Bear in mind that the interest rate varies from 8% - 12% p.a. judging from your profile of your company.

Minimum it has to be 3 years in the industry and revenue if RM500,000 - RM1Mil.

Loan amount won't be much, it will be less than RM1,000,000. (Correct me if I'm wrong...) But of course this is subject to the bank's approval. The borrower and guarantors have to have clean credit rating to be eligible.

Addition comment -

1) For those non- collateral loans, minimum requirement is business vintage must more than 3 years and business turnover must reach 800k - 1million per annum.

2) Interest rate is running 7.5 % - 9.2%.

3) The guarantor if is clean in credit rating then is perfect. Worst case in CCRIS is 111211. or have mutiple loan have appear 2 also can proceed the loan application. Subject to the sales consultant how to write the proposal and approval by credit officer.

4) Loan size is 150k- 500k. subject to your company profile.
(example: company turnover and industry) * service industry or construction industry can easy get higher loan size even small turnover.

* PM me if have any question. Free consultantion.
* I work in BANK.

What do you mean worst case 11211 but multiple 2 can proceed with loan??

cool mang....



To TS - all i know is that your company shall be established at least 2 years

how long is your company ? business loan is hard to apply now and biz loan are under SME and with min of 3 yrs operation of the company with profitable P&L in the passed 3 yrs and as well as with a solid biz plan for coming future with the loan amount u requested.

Which mean u have two loan (example- housing loan and hire purchase) late 2 mths for make the payments.


- If this happen in two loan, still can proceed but interest not nice and may take longer time to get the money. Because have to go through higher management approval.


- some bank very restriction for those people have "2" in ccris or even directly decline before proceed loan application.

Hope this can help.

---

Added on December 5, 2012, 10:55 pmBiz not that suffer to apply, but need time to "adjust".
Normally company will do "lose" in their account.(run away TAX). But this really big impact for applt BIZ loan. (But still have solution for settle this).

If apply OD or trade facility then you may require provide solid biz plan, but if looking for term loan with no collateral- this is not so important.


This post has been edited by SMELOANPS: Dec 5 2012, 10:55 PM

Beside alqa's advise,

if your business is creative and innovative, try http://www.cradle.com.my/about/

second, find out any start up program from government department. You could find a good package than normal business loan

third choice, try to get personal loan or find investor among your friend and relatives

Bank only lend to the rich... enuf said. Face the reality.

Gov loan for sme startup etc are just merely lip service.
Tried that, forget that, use own money + support from friends and family.

so you have to acquire capital from either family and friends to start.

Return them the $ asap.

Stabilize the business.

Look for loan if you really sure can expand.

Make sure the return is greater than the cost of borrowing.

its sad to hear that SME is so based on racial preferences. where is the fairness? and not all Bumis have the actual mind to run a business. out of 10. oni 2-3 will survive. I've heard alot of this shit happening. why cant SME divert the loan to be given to more capable entrepreneurs?

What do you mean by racial preferences?
Banks look at your credit profile as well as history, business nature and then decide from there. Skin color is never a criteria or a factor.

hi bro, sorry for late reply and thanks for the input.

I think MBSB is the best

I had apply business loan from 1mca fund with maximum 20k and 7% interest only

This should help all business owners..