Reasons for Taking Business Loan?

Whether you have just started your business or have an existing one, you may need the funds to keep going. Raising funds for the business is not always easy. Thankfully, there are some financial institutions which are willing to give the business loan if you have a good credit history. Here are some of the purposes for which the business loans are given.

 To get discounts from the suppliers

As a business owner, you are always looking to save money. Many times your suppliers give you a discount if you pay them the cash early. If you do not have enough money to give them the cash you can go for the business loan. There are several financial institutions you can approach for this purpose. Your credit rating will be reviewed and the terms of the loan will be determined accordingly.

To manage expenses

The new businesses do not start generating profits instantly. It takes some time to build the business and take it to the level from where it can start making money. Until that happens, you may even be short of money to manage the overheads and expenses. Again, to keep your business running you can go for the business loan.

Buy more to increase sales

Your products may be in high demand but you may not have enough raw materials to manufacture so much. If that is the case you may be looking for some more funds to buy the raw materials. The best way to do that is by going for the business loan. With that money, you can increase the sales and the profits as well.

Call +6010-372 6212 For Enquiry

Other needs

 You could have many other business needs as well. For instance, if you need to expand your business you may need money to rent a new place. You may even need to renovate the existing one.

Documents Required: 
  1. A copy of your I/C (front and back)
  2. A copy company Form 24, Form 44, Form 49; OR Form SSM
  3. A copy of Company & Director 6 months bank statement
  4. A copy of company latest electricity and water bill

 

We offer special loan packages for Small Business, SOHO, Restaurant, Retail, Wholesale, Factory for RM10k-RM10m, Call +6011-2930 9300 for more info and services! You may also be interested in other business related loans such as SME Loan, Start Up Business Loan and How To Get A Business Loan.  Call +6011-2930 9300 or contact us at below form now.

Send via WhatsApp