Frequently Asked Questions (FAQ)
- Printer (many prefer laser printers for the professional image they create for marketing materials, etc.)
- Fax machine
- Separate telephone line for business number with voice mail
- Separate telephone line for fax number
- Internet connection (including e-mail and web browsing capabilities)
You might consider investing in a multi-function machine that combines a printer, fax, scanner, and copier in one unit. If you require other specialized equipment or tools, you'll want to be sure to include these purchases in your budget when you're planning your business. To find out more, contact a SMI Commercial Facility Solution near you.
- Don't be too timid – or too proud – to ask for help. Network with other established small business owners to find out how they handle similar situations.
- Don't underestimate your financial needs, particularly cash flow. Have a solid understanding of the best and worst-case scenarios for your company, and have a plan in place on how to handle both.
- Remember that marketing your business is an ongoing activity.
- Form S1
- Form S2
- Form S3
Some of the things the bank may look for in evaluating your application include:
- Your personal and business credit record or credit rating
- Your managerial skills, background and experience
- Your ability to repay your loan based on cash flow projections
- The long-term prospects for your particular industry
The Small Medium Industry scheme (SMI / SME), Credit Guarantee Corporation (CGC) Business Financing Loan schemes, Financial Assistance by Government Ministry & Agency are the funds offered through the Local Bank and Development Financial Institutions (DFIs) in financing to help micro, small and medium businesses get grow. This loan is a competitively priced business improvement loan designed to provide businesses, such as grow-ups with limited equity and collateral. To find out more about this particular loan and whether you might qualify, contact a SME Loan Facility Solution Sdn. Bhd. near you.
- Evidence record of NPL, Bankruptcy, BMC on your personal and/or business credit history
- Your business, or the industry your business is in, appears too risky or unpredictable ( non favorable industries).
- Not enough security for the loan
- Incomplete business plan
- Insufficient cash flow to ensure regular repayment of the loan
- Applicant does not have ability to repay the facilities applied for
- Purpose of borrowing not in line with facilities applied for
- Unsatisfactory financial results of the applicant
- Applicant has other substantial borrowings resulting in high gearing (i.e. amount of loan is higher than capital)
- Unsatisfactory conduct of current account by the applicant
- Unsatisfactory repayment records with other lenders
- Applicant has cases which are pending legal action
- High business risk such as over dependence on single buyer or supplier
- Lack of financial commitments from business owners (i.e. not willing to commit additional working capital)
- Weak management of the applicant
- Sole proprietor/partners/directors/shareholders/guarantors etc. facing bankruptcy actions from other parties
It is a requirement by Bank Negara Malaysia that financial institutions should inform the borrowers formally in writing, clearly identifying the areas in which the borrower failed to satisfy. This will ensure that the borrowers are aware of the reasons for the rejection as well as assist the borrower to improve in the areas concerned for future loan applications.