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

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..

Loan for what purpose ? Different business, different loan, different bank.

if not mistaken, there is a program provided by government name something like Number 9 program...is for business perpose to loan...

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

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 !!

same question here

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

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....

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.

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

Wah...your wish me luck looks a bit scary, looks like I'm into some kind of trap or something else...

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

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...

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.

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.

thanks to alqa, yours reply is the most clearest one so far compare with others thread. Are you in this business loan line ?

Apply Business Loan need 3 year experience. Turnover 100K per month

Do anybody know how much interest charges for sme bank startup?

I think u can try SME loan.

5-7% for the interest rate..

are you sure turn over 100k PER MONTH???????????

if some one can make that much turnover per month sure they will make enough money (common sense who will make a net profit of just RM100 for RM100k business turnover? atleast more than 10k la).

what I heard is 200k business turnover PER YEAR. for small business that is.

We do the loan by seeing the yearly turnover at least 650k per yr

u can try got to sms/smidec for business startup grant.
max amount 100k.
but, it take more than 6 mths to approve if u go direct.
most of them is using an agent to get it faster but stil around 3-4 mths

can someone giv me a detail on sme loan application and the term and condition.....for the company which have 1 year history...need some advice for loan application for expand.....thanks

Hi there,
I'm working for a middle east bank and we offer financing but on a smaller scale unlike a business loan, cause we offer only 150K max. And this are the terms
> Registered with SME >3 years
> Monthly transaction of at least 10K
> Borang J, with income tax receipt 2 years
> Bank statement 6 months

Or we could push aside all I said above if you have a credit card and we process it through your credit card... : ) For enquiries feel free to pm me..
regards, Hafiz Noor : )

what is the interest rate if i'm using credit card to loan about 50K?

Thanks for ur reply , if using credit card is sound more like personal loan.
Borang J, with income tax receipt 2 years ? J form is personal form J ? but if not mistaken , LHDN was not issued form J for this past few year.....i will check it up 1st, and get back to u soon....

bro, can share with me how u apply that grant?

Hi

we are a financing company arranging business loan.

Criteria for this loan are the business must run on 2 yrs & above.

currently we are having promotion for those success application with a free "Home security system" worth RM1000++

pls email enquiry to us at info at ayubarra.com

cheers

I want to start a business. Is it's hard to get a business loan from SME?? Does SME need to see our Bank Statement??
If i manage to get the loan, how much does they will loan to me??
I am a bumi but mix.

It is very hard impossible when you just started a company with no proven track record of profits and sustainable revenues.

Maybe you can try government grant?

This post has been edited by Icehart: Aug 20 2011, 10:55 AM

government grant?

Is it still available for applying?? I believe it's all closed...govr NO $$$ oredi...we have try since 2008...they mentioned NO MORE...

this is the latest info I got from SMECorp

http://malaysiapersonalfinance.blogspot.co...iness-loan.html

I tried SME bank and it is disappointing to know the only start up loan that fits a new business is meant for Malay, go there and see if you get the same reject before you even open your mouth.

SME scheme used to be under MCA but was abused then and now gov separated it, still keep the same people. For all I know, gov grant is dried up but announce the allocation fund, this kind of condition created false sense of hope and the result is moving money or business offshore or localized and don't even need to borrow from banks.

Many local businesses are partnership at first (share the burden) and split to venture out individually or from retirees just to start the business and hire young people every year to keep it running to generate continuous income only.

So, the best way is to involve relatives and family instead of loan, I also hear that loan-shark pretend to be investor and after they gave you the money, they unveil the truth.

Do we need to hv a Sdn Bhd to apply for the SME loan or a sole proprietor can also apply the loans?

Tough luck applying for government grant. The chances of success is very low. I think the best way is to turn to your family, relatives or friends in the end to generate capital.

sometime people even don't get anything at all even using agent

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..

Have you tried SME Bank? quite a number of my friends got their loan approved. Heard this bank is color blind...

the office staff's of SME Bank are very friendly and helpful too...

Perhaps, time to use this service- SME Loan Malaysia

Cheers!

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