How To Get Easy Business Loan, This Year

For those of you who have just started or have a business under 3 years, the most crucial thing for business development is the small capital and limited access to finance. Ideally starting a business using funds from personal pocket instead of debt and after the business started the road and have other market development plan obstacles emerged that are :

Access to financing is also limited because the business is new so not many creditors (banks) are glancing at your efforts.

If the business conditions as above, the review below is suitable to be considered. Apparently, there are many ways to get small business capital loans from various sources. However, some considerations and tips such as the following should be considered for business to get the capital can be smooth:


1. Make sure the Credit History is Good

Any credit application first thing that will check the creditors is your credit history before. The process of this credit history check can be found 3 things like this:

Bad credit history, credit submission result must be rejected.
Credit history is good, credit submission is easier to accept.
You (your business) have not had a credit history, a lender will be more careful in giving credit because of untested character.
The above considerations are essential for entrepreneurs to ensure that they have no arrears in the bank. The blacklist of credit for the entrepreneur is tantamount to closing the business itself.

Each credit will be recorded in credit history in the Bank system. DIS (Debtor Information System) shows the credit record of every person who has or has a loan at the bank. If ever have any arrears and the slightest should be settled immediately

2.Use the Service from KTA Fintech

The next process is to find a creditor for your business financing. Banks may be the main goal, but unfortunately, not all small entrepreneurs can gain access to banking. One of the obstacles that are often experienced is a strict requirement, for example, there must be a reasonable guarantee.

If you experience this obstacle, do not worry because now there is an alternative financing institution other than the bank. The presence of fintech the impact of many technological advances that offer credit terms and conditions more easily and flexibly than banks that can be used as an alternative source of financing for small businesses.

3. Business Financing Through Venture Capital

Capital constraints such as the above reviews, in addition to finding solutions through KTA Fintech can also try another alternative that is financing through venture capital. There are several types of financing that can be used as alternative and certainly more flexible than the bank as follows:

Equality Financing is a type of direct financing, in this case, venture capital companies do direct investments in the company's business partner.

Semi Equality Financial is a type of financing by buying convertible bonds issued by the company's spouse.

Established a new joint venture capital company with a partner company to set up a new business altogether.

Profit Sharing is a type of financing that is shown to small businesses that do not yet have a legal entity form PT, but it is not possible to the legal entity PT if both parties want each other.

Venture capital can be a business solution when there is no guarantee in the form of fixed assets. The guarantee given to the venture may be in the form of the business itself. Ventura focuses on micro-entrepreneurs by throwing credit to unbankable entrepreneurs, whose criteria or profiles are difficult to accept by banks.

4. Utilizing Home & Cars

Homes and cars can be used to acquire venture capital with multi-use financing schemes. If the status of a car or a house is still a credit then you can ask for a top-up on a mortgage or KMG loan that is still running. Top-up is the addition of new loans to the previous loan ceiling that can be used for business financing.

5. Completeness of Document Requirements

A prospective debtor must understand the credit approval channel and the required file so that the proposed business capital can be smooth. The main documents include identity documents and business-related documents. The collection of documents often takes time. Especially if related licensing.

Tips:

The Key to Successful Disbursement of Credit is to Know the Credit Flow and Complete Terms

One of the challenges for new entrepreneurs is getting the capital to grow the business. If using a normal path, it is impossible for banks to make loans if they do not have a guarantee. Therefore some of the above loan alternatives could be your business solution. The key to successful submission of your credit is to understand the flow of credit and the complete requirements.