Indonesia’s economic growth is quite rapid at this time, one of which is influenced by the proliferation of Micro, Small and Medium Enterprises or abbreviated as MSMEs. Not only the ease of managing business licenses, the government also facilitates business capital loans so that debtors can get funds quickly and safely.
For those of you who want to set up a business in any field, capital is one of the key factors so that your business can develop well. Then, how do you get a capital loan? And what requirements need to be prepared?
The ease of obtaining funds for business capital is influenced by several things, one of which is the choice of banking products. There are those who provide easy conditions, and there are also those whose requirements are quite complicated but dare to provide large amounts of loans.
In addition, the complete documents also make it easier for you to get business capital credit. So before entering the application, make sure the required requirements are complete so that the submission can be processed immediately. And what is equally important is the credit history. If you have a loan in a banking or other financial institution and are not finished, you should pay off immediately.
The Bank will not provide a loan if your credit history has a problem.
Where can the Business Capital Loan be obtained?
Finding a business capital loan is actually very easy, because the banks are also aggressively offering a variety of products with mild conditions.
So just come to the bank, and apply for business credit that suits you. The problem that is often faced by current debtors is the limited time they have so that they cannot take care of filing with the bank. Though credit requires a process that is not short. If it is not immediately submitted, the funds cannot be disbursed as soon as possible.
But now, the financial technology industry in Indonesia is gaining in popularity and the number is quite a lot.
You can use the platform to apply for an online loan. So there is no need to come to the bank, just select the appropriate product, fill in the form, then complete the required requirements. It doesn’t take long for the results to be immediately known whether your application was accepted or rejected.
Types of Business Capital Loans and their Strengths
In general, the types of business capital loans that you can apply are divided into two. Each has its own advantages. Just adjust it to your abilities and needs. When borrowing, also take into account the financial condition, whether it is able to repay the loan on time or not.
To find out the types of loans for business capital that exist today, here are brief reviews.
- Credit with collateral
For those of you who are looking for a capital loan for business purposes, this product can be considered. The advantage of this loan is that the ceiling is quite large, and some banks even offer loans of 500 million to 1 billion. While the disadvantages are requiring guarantees such as certificates of land, houses and buildings, BPKB, jewelry, and other valuables.
In addition, the disbursement process is long enough to wait for verification from the bank.
- Unsecured Credit
Unsecured business capital loans are often referred to as KTA. The advantages offered are that you can get a loan without collateral. But the amount of the ceiling is very limited, no bigger than a loan with a guarantee. Tenor or repayment period is also short. And what you need to know, the interest charged compared to other loans is calculated to be rather large.
For this reason, it is wise to use business capital loans online or from banks, adjust to your needs and abilities.
Requirements for Submitting Business Capital Loans
Not only the bank offers small business loans without collateral.
There are many other financial institutions that also have the role of providing business capital without collateral with non-complicated requirements.
If you want to apply for credit for business, there are several requirements that must be known. Some of them are:
- Indonesian citizen is at least 21 years old
- Having a business that has been running for a minimum of 2 years
- Don’t have a bad credit history
- Complete the required documents, including:
- KTP and KK
- Marriage certificate if married
- NPWP and SPT
- Savings account for the last 3 months
- Business establishment letter in the form of SIUP and TDP
- Financial transaction report
- Investment plan document
The requirements for business capital lending above are only general descriptions. Some credit products have specific requirements, so read carefully before sending loan applications for business and business.
Stages of Submitting Business Capital Loans
Applying for a business capital loan is actually very easy provided you know the stages.
Not a few debtors were rejected by the application, but many were also accepted. The point is to prepare all the requirements needed so that an agreement can be immediately given.
The stages of applying for business capital are:
- Make sure the business you have is a business that is still productive. Examples of productive businesses are clothing stores, restaurants, and others.
- Prepare documents needed as the main requirements such as KTP, Business License, income data, and others.
- Choose a credit provider that suits you. Can be through banks or financial platforms such as online loans. Make sure the products chosen provide benefits for you, such as easy conditions, low interest, high ceilings, and others.
- After choosing the appropriate product, just follow the procedure such as filling out the form completely, uploading the required documents. You can also send the application and documents directly to the bank.
- Wait for the verification process carried out by the bank. Surveys can be by telephone or come directly to your home. If there is data that is not suitable, then the application that you submitted may be rejected.
So looking for business capital is actually easy to bother.
For those of you whose credit history is still clean and need a capital loan, just submit an application either via online or directly to the bank.
Guaranteed opportunities to be approved are large enough if the document requirements that you provide are complete.
Advantages and Disadvantages of Using Business Capital Loans
Currently looking for business capital is becoming easier with the existence of a technology-based financial platform.
Just send the application online, then wait for the verification done by the bank.
Many of the benefits of these banking products, some of which are:
- Help provide loans with easy conditions. Some products don’t even require a guarantee at all.
- Applications can be sent online
- Flexible ceiling and tenor options.
Behind the benefits provided, the product also has shortcomings, namely the burden on the borrower because they have to repay the loan on time and the amount is quite large because they are charged interest according to the provisions.
Business capital loans are the right solution for those of you who want to grow your business. Understand how to submit and attach the requirements completely. Compare first credit products with one another so that you can get funds easily and have a light interest.
Don’t forget to return the funds on time so that you are not subject to late penalties that will make the bill swell.