When you want to have your own business, the first thing that becomes a problem is how you get enough business loan. In every business, both small and large, capital is the most important factor so that the business can open and run smoothly.
If you are not looking for venture capital, then all your business plans will definitely not be realized and will only be wishful thinking. The amount of capital that you have to have of course will depend on the type of business you choose.
If the business you want to open is a basic food store or a standard shop, of course the capital you need will be far greater than if you sell fried or pulses without using a counter.
But for now, looking for venture capital is not as difficult as a few years ago. In the past to get venture capital still using conventional methods such as borrowing money from banks.
Now there are many ways to get more creative capital. Following this we provide several ways to get capital for small businesses that are not complicated.
5 Ways to Find Business Loan
1. Borrow from a bank with a guarantee
This method is indeed the most conventional and most common. But borrowing money from a bank is the easiest way. There are several loan programs in a bank called KMG or Multi-Purpose Credit. This type of loan will give you a loan where Anad provides guarantees to banks such as motorized vehicles or property assets. The interest offered by each bank must vary, but the average is 9 to 12 percent with tenors which also vary from 5 to 20 years. The loan amount will also affect the interest rate and the length of the tenor.
2. Using personal savings
For those who like this, maybe not everyone can do it. However, if you have enough savings, then you can use savings as your business loan. Usually people who use personal savings to be used as business loan are people who don’t like to borrow money from banks because the interest is too high. By using personal savings, this will be much safer because you have no risk of debt.
3. Borrow from a bank without collateral
Looking for further business loan can also go to the bank again, but this time use KTA facilities or Unsecured Loans. So, with this facility, you can borrow money from a bank without collateral. Usually this is something that is liked by capital seekers or for those who are in need of sudden money. You can get a loan of money without giving any guarantee. However, KTA has a greater interest than KMG, starting from 10 to 23 percent.
4. Selling Assets
If you have assets such as gold, property, motorized vehicles, and other profitable assets, it’s good if you sell assets as business loan. If your business is unsuccessful, of course you can buy assets that you have sold with more and better assets. This method can also be used to avoid bank debt.
5. Borrow from family or friends
The last way to find business loan is to lend money to your family or friends. Borrowing money from them will not be as much as you can borrow from a bank, but at least the loan has no interest or you can directly make loans online.
There are 5 ways to get business loan. Good luck.