Business funding is essential. It is fine if you are an established business enterprise. You can easily manage your own funds easily. As well as that, your daily ongoing cash inflow from your business operation is healthier if you are an established business enterprise. However, start up business enterprises need a lot of handholding in the initial stages. They usually need financing as their start-up capital is spent much on setting up premises, buying stocks and equipments. We, at First One Sdn Bhd, know the difficulties you face as a start up enterprise.
What is a start up business loan? How do you get a start up loan? Such questions can crop up in the minds of the fresh entrepreneur. You may have plenty of ideas and the skills as well to visualize these ideas becoming a reality. However, you need money to start a business. Borrowing from friends and relatives is one way of making a start. This is advantageous, in a way, because the repayment of such loans can be flexible. The industry refers to such loans as unsecured loans. However, even borrowing from friends and relatives may not be easy as each of them have their own commitments and limited borrowing capacity.
In Malaysia, you have an advantage. The Government of Malaysia has formulated attractive schemes whereby first-time graduate entrepreneurs can avail funding from banks and financial institutions. The Government has earmarked a separate fund known as the Graduate Entrepreneur Fund. This Fund can help the SMEs to start their own business or improve upon their existing business without having any financial worries.
Many banks in Malaysia offer collateral-free loans to start up enterprises. However, such loans have a ceiling. And it is certainly not easy to get these loans from the commercial banks due to its many criteria and requirements. In case the start-up enterprise has a higher requirement, they can approach us for a Business Loan. We have facilities where we can sanction more than RM 400,000 to deserving entrepreneurs against the assets of their property. This is also sometimes called a Caveat Loan.
We understand that the availability of funds is the biggest problem for a start up enterprise. You can leave these troubles to us and concentrate on what you know best. Availing a Caveat loan from us is an excellent way of starting your business on an auspicious note.
Check out our SME Loan, if you are established for a few years, and needing working capital financing for your SME operation.