Welcome Guest ( Log In | Register )

Outline · [ Standard ] · Linear+

Loans Personal Loan Advice, Applying first time

views
     
TSMilano7
post Jan 15 2019, 11:56 AM, updated 6y ago

Getting Started
**
Junior Member
193 posts

Joined: Nov 2011
From: KL

Hi guys, im currently a 3rd year lawyer earning gross around 4k per month.

so this year i decided to open up my own legal firm in the near future. currently i have saving around 5k but i believe i still need much more than that sustain my firm (around 25k). l really need a solid plan for paying the bills and staffs.

Thats why i started to survey the best personal loan suited for my plan. I tried to apply for HLB personal loan but they denied it saying im only allowed for a loan double my current salary as i dont have any other facilities with them). The only loan i have now is with Aeon for my motorcycle. (paying around 150 per month)

Any other options guys? Really appreciate your guys sharing of ideas.


Hades76
post Jan 15 2019, 12:00 PM

On my way
****
Junior Member
650 posts

Joined: Jan 2012
I suggest you hold on for a while and gain experience and also earn more in the same time. Then after 5 years or so, open your own firm.

With RM 25k capital, you dont have much room for any emergency situation running a business.
ched6560
post Jan 15 2019, 12:10 PM

Getting Started
**
Junior Member
64 posts

Joined: Oct 2017
QUOTE(Milano7 @ Jan 15 2019, 11:56 AM)
Hi guys, im currently a 3rd year lawyer earning gross around 4k per month.

so this year i decided to open up my own legal firm in the near future. currently i have saving around 5k but i believe i still need much more than that sustain my firm (around 25k). l really need a solid plan for paying the bills and staffs.

Thats why i started to survey the best personal loan suited for my plan. I tried to apply for HLB personal loan but they denied it saying im only allowed for a loan double my current salary as i dont have any other facilities with them). The only loan i have now is with Aeon for my motorcycle. (paying around 150 per month)

Any other options guys? Really appreciate your guys sharing of ideas.
*
Easy way for businessman to get fast money. From credit card.

Apply for credit card. Spend until maximum, for what normally you spend like pay bill, petrol, etc. Don't buy anything unnecessary. Then apply for upgrade limit.

Apply several credit card. Follow limit 1st credit card.

Then convert limit credit card for loan. Easy to get RM 100k or more. Depend how you deal with bank.

That one of source of loan for businessman.

But, you must have discipline to manage credit card. Businessman not like who have salary, everyday we must carefully spend our money. That why businessman can use credit card wisely.
potenza10
post Jan 16 2019, 08:25 PM

Regular
******
Senior Member
1,936 posts

Joined: Oct 2011
From: KL
QUOTE(Alamak! @ Jan 15 2019, 02:24 PM)
Loan for your law firm shouldn’t be your priority now, but your customers.

Have you decided how you’re going to sustain your business? Customers? Gonna steal them from your current firm?

25k personal loan is nothing, don’t take it from CC, just keep on looking for banks.
*
He is asking opinion about personal loan for his business start up, yet you asking about his business plan? Aiyoooooo brader.....
SUSyklooi
post Jan 16 2019, 08:46 PM

Look at all my stars!!
*******
Senior Member
8,188 posts

Joined: Apr 2013


QUOTE(ched6560 @ Jan 15 2019, 12:10 PM)
Easy way for businessman to get fast money. From credit card.

Apply for credit card. Spend until maximum, for what normally you spend like pay bill, petrol, etc. Don't buy anything unnecessary. Then apply for upgrade limit.

Apply several credit card. Follow limit 1st credit card.

Then convert limit credit card for loan. Easy to get RM 100k or more.
Depend how you deal with bank.

That one of source of loan for businessman.

But, you must have discipline to manage credit card. Businessman not like who have salary, everyday we must carefully spend our money. That why businessman can use credit card wisely.
*
hmm.gif I thought banks had set a limits to the max credit limits for the cards .... based on individual's income and liabilities status....
they will combine the limits of all cards and they will know the individual limits by using CTOS or CCRIS?

This post has been edited by yklooi: Jan 16 2019, 09:07 PM
potenza10
post Jan 17 2019, 11:28 AM

Regular
******
Senior Member
1,936 posts

Joined: Oct 2011
From: KL
QUOTE(Alamak! @ Jan 17 2019, 11:06 AM)
Read between the lines la brader....

This dude has only been working for 3 years. Salary 4K, savings only 5k, want to apply personal lain for 25k to open a law firm and have a motorcycle loan with AEON credit for 150/month. Banks after doing their assessment are only willing to give 8k loan to him.

Brader.....those are not a good sign for someone who’s thinking to start his own law firm. Some more 25k loan + 5k savings to sustain business with staff cost and all? How long can the business sustain with just 30k if he plans to quit his job and hire people to work for him?

If he had a solid business plan, I’m pretty sure the banks won’t give him just 8k loan.

You might be fine with potentially sending a young guy to bankruptcy but not everyone is like you, okay?

Understanding his business plan also helps us to advice him on how to better convince banks to give him higher loan la brader.....next time think thoroughly first okay brader?
*
braderrr braderrrr doh.gif
potenza10
post Jan 17 2019, 05:00 PM

Regular
******
Senior Member
1,936 posts

Joined: Oct 2011
From: KL
QUOTE(Alamak! @ Jan 17 2019, 11:34 AM)
Apa lagi, macha? Nothing constructive to say can shut up saja la brader
*
so easy to divert from topic..braderrr braderr... notworthy.gif
onnying88
post Jan 18 2019, 01:46 PM

Look at all my stars!!
*******
Senior Member
2,663 posts

Joined: Feb 2008
Can try HSBC or Alliance bank PL, can get 6 to 10 times of your current salary.

If you don't mind to share how you came out with Rm25k can able to sustain your firm? Eyou rent a Rm2k level 2 shop office, Deposit 3+1 month already RM8k used. Office renovation?

How confidence you can get client/business after you set up your own firm? For sure you cannot expect client will walk in your office and bring business to you right?

Maybe you can consider to find a firm partner.
potenza10
post Jan 18 2019, 04:06 PM

Regular
******
Senior Member
1,936 posts

Joined: Oct 2011
From: KL
QUOTE(Alamak! @ Jan 18 2019, 02:39 PM)
Brader brader, u see other people also asking about his business.

We all not useless people like u who don’t care if people fail.

Up to you la brader.
*
It's simple. I dont know him, so I wont asking details about his business plan. Easy.

Answer only to his question...at least I am not kaypoh type mega_shok.gif
ched6560
post Jan 22 2019, 10:57 PM

Getting Started
**
Junior Member
64 posts

Joined: Oct 2017
QUOTE(yklooi @ Jan 16 2019, 08:46 PM)
hmm.gif I thought banks had set a limits to the max credit limits for the cards .... based on individual's income and liabilities status....
they will combine the limits of all cards and they will know the individual limits by using CTOS or CCRIS?
*
by book, yes bro. But there still another way. If that brader really want to become a businessman, he'll find a way.

That why i mention, depend on how you deal with bank.
ViktorJ
post Jan 22 2019, 11:04 PM

Dancy Drinky Doggo
******
Senior Member
1,004 posts

Joined: Oct 2007
1. You can try your home bank (a bank in which you have facilities with).

2. Go try other banks. Someone mentioned Alliance and HSBC. Go try OCBC as well.

3. Having a credit card history helps a lot, as it is also an unsecured loan, so they will benchmark against that more so than your HP moto loan.

Good luck with your business.

 

Change to:
| Lo-Fi Version
0.0135sec    0.30    5 queries    GZIP Disabled
Time is now: 28th March 2024 - 09:17 PM