For those of you who are just starting out or have a business under 3 years of age, it is most crucial for the development of venture capital and the small is the limited access to financing. Ideally start a business using funds from private debt rather than spend and after business began way and have other constraints market development plan appears as follows:
- Limitations of personal capital.
- Access to financing is also limited because business is still new so not many lenders (banks) who glanced at your efforts.
If business conditions as above, the reviews below fit so consideration. It turns out that there are many ways to get a small business loan from different sources. Nevertheless some considerations and tips such as the following should be noted so that businesses get the capital it could smoothly:
1. Ensure Good Credit History
Each submission will be first thing credit in check the borrower is your credit history before. Process checks credit history may be found 3 things like this:
- Credit history is bad, credit submission results definitely rejected.
- A good credit history, credit filing results easier to accept.
- You (you) do not have a credit history, lenders will be more careful in giving due credit untested character.
The above considerations it is important for the employers to ensure that they do not have arrears in the bank. Blacklisted credit for employers is tantamount to closing the venture itself.
Any credits will be recorded in the credit history in the system of Bank Indonesia. SID (the debtor information system) shows the credit records of everyone who everor are currently have a loan at the bank. If any arrears and never had the slightestshould soon be dealt with.
2. use the services of the KTA Fintech
The next process is to find a lender for financing your business. The Bank could bethe primary purpose, but unfortunately not all small entrepreneurs can get access to banking. One of the barriers often experienced is a strict requirement, for example, there should be a decent warranty.
If you experience these constraints, no need to worry because now there is an alternative financing institution other than a bank. The presence of the fintech swept up in the technological advancement of many that offer loans with terms and conditions much easier and flexible than banks that can be used as an alternative source of financing for small business actors.
3. Business Financing Through venture capital
Capital constraints such as above, in addition to finding solutions through the Fintech KTA can also try other alternatives, namely financing through venture capital. There are several types of financing that can be used as an alternative and certainlymore flexible than banks as follows:
- Equality Financing, is a kind of direct financing in this venture capital firm doing inclusion directly on the company's business partner.
- Spring Financial Equality, is a type of financing by purchasing convertible bonds issued by the company's business partner.
- Setting up a new combined company from venture capital firm with a partner company to set up a new venture at all.
- For results, is a type of financing that are shown to small businesses that do not yet have the form of a legal entity, PT, but is not a possibility with the incorporated law PT, if both parties mutually want it.
Venture capital business solutions could be at the moment don't have a guaranteein the form of fixed assets. The guarantees given to ventura could be in the form of business is itself. Ventura focus on micro-entrepreneurs by means of throwing loans to entrepreneurs-entrepreneurs unbankable, criteria or difficult profile is received by the bank.
4. Low interest PBC
PBC (people's business credit) is the flagship program of the Government to increase the number of entrepreneurs in the country. This program is intended for small entrepreneurs who have never had a previous loan so it could develop its own businesses.
Some characteristics of the product to know the community MEASURE such as the following:
- Interest rates are very low when compared to the lending effort in General.
- The Government subsidizes the interest on loans of PBC.
- KUR channeled only through several banks.
In practice, a number of loan terms set KUR. That is obviously not as tightly as banks, but also not selonggar Fintech or Ventura, but certainly the interest rates are the lowest.
5. Borrow through Peer To Peer (P2P) Lending
Peer To Peer (P2P) Lending is one of the fintech innovations in the form of marketplace loan bring together owners of funds and borrowers of funds directly. Thanks to advances in technology, the function of the bank as an intermediary eliminated in this marketplace because the owner of the funds and the borrower of funds can be directly associated with the help of technology so that the loan process becomes easier and more flexible.
Here's some of the P2P Lending platform is quite popular and can be used by small entrepreneurs:
- Investree focus on the financing of the Bill or known as invoice financing. Entrepreneurs who have bills can file the financing over the Bill. There are no guarantees in these loans.
- Modalku offering a loan to the merchant in the e-commerce Tokopedia. There are no guarantees in these loans.
- Amartha who gave loans to a collection (group lending) so prospective borrowerswho do not qualify if the borrowing itself (individual lending) may ask credit.
6. Fixed Installment credit cards
Although impressed, creepy, doing business loans with a credit card could be another alternative. No need to be too afraid, they are leveraging their mortgage loan facility with plafond take the limit of the card. This instalment interest lower than interest credit card transactions.
The process is instant, direct liquid because its facilities are already attached to the credit card. Another plus is if compared to take loan repayments, KTA with credit cards offer lower interest. The facility is also free of penalty if done accelerated repayment.
7. The Cooperative Credit Union
By becoming a member of the cooperative, You more easily get venture capital loan facility with the process relatively easy and fast. One of the conditions to be a member of the cooperative is obliged to place a deposit in advance. Members can ask the loan number of deposits.
8. Using the KTA Business
KTA business bank is a product specifically for this type of unsecured loans createentrepreneurs. To get the bank's business, WE will look at and assess the efforts as the basis in providing loans of KTA. The given ceiling large enough even to Rp1Billion unsecured.
9. Utilize Home & Car
Houses and cars could be used to obtain venture capital financing schemes with multi-purpose. If the status of your car or home is still the credit then you can ask for top-up MORTGAGE loan or KMG are still running. Top-up is the addition of new credit over the previous loan plafond can be used for business financing.
10. Completeness of Document Requirements
Prospective borrowers have to understand the flow of credit approvals and the required files in order for the filing of the proposed venture capital can be smoothly. The main documents include identity documents and documents related efforts.The collection of documents that often takes time. Especially if the associated permissions.
The key to success is to understand Credit Disbursement Credit Flow and complete the requirements
One of the challenges for new entrepreneurs is getting the capital to develop the business. If using the normal bank lending, impossible if you don't have a guarantee. Therefore some of the above loan alternative could be the solution to your business. Keys to successful submission of your credit is to understand the flow of credit and complete its requirements.
