BUSINESS LOAN
A business loan is defined as a borrowed capital that companies typically will apply toward expenses that they are unable to pay for themselves. Some business owners might even use personal loans in order for them to pay for salaries and wages until their new company manages to stabilize, while other companies might put the borrowed funds toward office supplies, inventory or business projects. This may apply to big businesses as well as SME businesses looking for a loan.
Lenders might want to know how would the business intends to use the borrowed monies, so the business owners must make sure to draft out and have a clear outline for how the money will be spent. It is important for the business owners to impress the lenders by being professional, or they would have declined the loan application. Even if the business owner is blacklisted by CCRIS or CTOS, we would be able to assist them to get a loan.
If you are looking for Business Loan, please call +6011-4000 7123
The purpose of this discussion is to encourage business owners to consider in securing a business loan long before they really need one.
1. What if the Bank Says No?
In many situations, business owners can get a large project or job that they may not have expected, and then they might aware that they need a loan immediately in order to begin work. It is understandable that some of you don’t want to take out a loan and pay interest if you don’t really need the loan right now, but if you can secure a small loan now, then try to pay it back in full, and apply for another loan later, you will more likely to be approved.
2. Terms Are Unfavorable For Your First Loan
For your first loan you will be limited on the size of the loan, and then your interest rate will be toward the high end of the range simply because of no credit history with that specific lender. After you manage to pay back the first loan, your terms for the second loan should also improve. You will be able to secure more money, and for a longer period of time normally at a lower interest rate.
3. Building a Credit Relationship is Priceless
Once a relationship of trust have been built where the lender is confident that you can and will pay back the loan, they are more than willing to lend to you more and more as you grow. If you think you might later need a large loan at some point in the future of your business, then you should start borrowing now whether you need it or not. It is unlikely for anyone to lend $500,000 to someone who has not first demonstrated their ability to pay back a RM 50,000 loan.
Since there are so many restrictions from lending through financial intuition then it might be good to have another alternative that you can go for. It doesn’t matter if you are having a bad credit history or being blacklisted by the commercial bank there is still somewhere that you can entrust to lend you the amount of money that you need. Licensed money lender can at least help you get the loan that you need without too much hassle.
Everyone might have moments of financial difficulty at some point in his or her life. Whether that the cause of money woes include mounting debts due to health problems or your car breaking down, a loan might help you to bridge the gap until your finances are returning to steady once more. Yet you might be reluctant to go to a bank in order to get this loan if you happened to be denied before. There is a solution, however, and that solution is for you to start to consider licensed moneylenders.
Let us help you in resolving your money problem, our service can help you to get the loan you need to help you cover all your expenses without having the problem of getting rejected or denied by the banks again. All can be done in easy, secure and immediate ways.