….Talk is cheap….take it with a pinch of salt!
Getting a business startup loan in Malaysia
26Oct2009 Filed under: Malaysia Author: Mamapumpkin
Since I have never owned a business before, I was wondering…..where does one get a loan in order to start a business? And how much can one really get? Just for your information, I called SME Bank (I never even knew this bank existed! It is a bank to help Malaysian entrepreneurs flourish, like real….) to enquire and they told me that in order to qualify for a business startup loan, I’d have to submit a business proposal and if it got approved, I’d be able to borrow up to RM250,000.
So what if I needed more money? What do I do then? Hmmm……..
Any ideas?
4 Responses to “Getting a business startup loan in Malaysia”
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Who is Mamapumpkin?
Once upon a time, I designed buildings and interiors of corporate offices and on the rare occasion, homes. Now, I clean poop and am student of a patience management course. From the drawing board as a London Architect to the realities of Motherhood, I have certainly learned many lessons in humility. And then others.....
To succeed in the corporate world, first succeed with your kid as the happy boss. Seriously.
This blog is about me, Mamapumpkin. A crazy, demented Mom who cares full time, alone, without any help, for an even crazier preschooler AND a baby with a boob addiction problem. *sniff* Someone, please get me a chair.......
I write anything that comes out of my head, mostly without thinking first, which almost always gets me into trouble (according to my husband, also known as the love of my life.......on a good day).
My pet monkeys drive me towards challenge after challenge, 24/7.
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Got 5 minutes?
Colin Wee (1 comments.)
October 27th, 2009 at 1:40 am
The kind of loan you’re looking at is a loan based off that business plan and secured using you or your house as collateral. That can be used to finance part of your business. Fund raising for small businesses can also include any other individuals up to a specific amount (which you’d probably have to research). Otherwise, you’re looking for ‘angel investments’ … typically meaning you’ll have to give away a significant portion of your company to secure their investment dollars in you. Beyond this, you may be looking to generate dollars through public listing … which may not be way you’re after. Colin
tc
October 27th, 2009 at 2:28 pm
ask yr mom and tok tok. hehehe
rachel (130 comments.)
October 30th, 2009 at 5:37 am
go to http://www.smidec.gov.my
They are located along Jalan Duta, Menara Matrade. U can walk in anytime (during biz hours) with ur proposal or no proposal. Approvals will be done in 2 weeks and moeny disburse in few days. They have loans and grants and different type of category. If u r one of the directors of the company, then u stand a higher chance of obtaining a loan/grant as they will categorize u as Women Entrepreneur. They are a bunch of friendly people. If U do happen to meet with someone who cannot answer ur questions or with no customer sense, do let me know!!!!
and once u become a recipient of loan/grant, the next step will be meeting me…:)
Good luck
rachel (130 comments.)
October 30th, 2009 at 5:38 am
Btw, I dont know much about ur background. The company that you intent to form or already formed must be at least 60% Malaysian owned in order to qualify for any loan/grants from SMIDEC.