8 Methods for Obtaining a Business Financing Loan

financialtreat – will explain about the 8 Methods for Obtaining a Business Financing Loan that you will get in the following article. Let’s look at this article carefully!

Today, there are numerous ways to obtain a loan for business capital. Along with the development of technology, applying for a loan to get business capital is getting faster and easier. Business capital is not the main factor in starting a business. Capital will be very crucial in running a business. Therefore, it is very important when making a business financing loan to be able to run the business you are starting.

There are also businesses that run without capital, such as the dropshipping system. However, in the short and long term, modal can be used to pay for monthly operating expenses, employee salaries, or capital equipment and business supplies.

On this occasion, we will add recommendations for those of you who are still confused about where to get business capital. We add eight ways to get an initial business financing loan. Check out the review below.

8 Ways to Obtain a Business Financing Loan


1. Multipurpose Financing (BPKB Guarantee)

Multipurpose financing is financing intended for the procurement of goods, funds, or services needed by debtors for utilization, consumption, and business needs by pledging assets to lenders. The assets used are usually in the form of vehicle BPKBs or house certificates.

The advantages of applying for a loan through multipurpose financing are:

  • high-loan system
  • Long tenor
  • The amount of money obtained is larger.

In addition to the advantages of filing, there are several risks that can be experienced, including the risk of losing assets and the application process being longer than for unsecured credit (KTA). It takes longer during the process, so a field survey is required to determine creditworthiness.

Through BFI Finance, you can get a loan for initial business capital with low interest and a fast approval process. As one of the oldest finance companies in Indonesia, BFI Finance offers various waivers when applying for financing and always prioritizes customer needs.

The requirements that must be met include a copy of self-evidence, vehicle BPKB and original STNK, a maximum vehicle age of 10 to 15 years for cars and 10 years for motorcycles, and not having a profession that violates Indonesian law. Other information and provisions regarding loan applications through BFI Finance can be accessed at the link below.

2. Online Loans

Online loans today can be said to be on the rise. Applying for financing through an online loan is very easy because it does not require complex and unsecured requirements. Therefore, this financing model began to be favored by the people because of its convenience. Usually, this online loan financing method does not have asset guarantee requirements.

Thus, it is relatively easier than applying for financing that requires collateral. In October 2021, there will be 106 online loans in Indonesia that already have official permits and are registered through the Ojk. However, you must still be careful, because there are also many illegal online loans that are not officially registered with the OJK.

The requirements for submission include the original attachment of the KTP, NPWP, and salary slip. If you register through the application, you will usually be asked for a selfie with your ID card. The age of the prospective debtor is also required to be between 21 and 60 years old.

3. Capital from Cooperatives

You can also apply for a loan for business capital through the Savings and Loans Cooperative. Considering that the principle of the cooperative is family, you must become a member of the Savings and Loans Cooperative if you want to apply for a loan. The advantage of this Savings and Loan Cooperative platform is that there is a division of the remaining business results.

Any remaining funds will be distributed equally to its members. In general, the requirements for applying for a loan at the Savings and Loan Cooperative are photocopies of ID cards, family cards, salary slips, forms for applying for loan funds, and photocopies of PBB or electricity accounts.

4. Pawning Assets

Another way to get a business capital loan is to mortgage your assets. Choose a pawn company that is legitimate and has a good track record. Don’t let your assets disappear without anyone knowing after you mortgage them. You can mortgage assets such as vehicles, electronic goods, gold bars, gold jewelry, and others.

If you mortgage the vehicle, then the requirements for submission are a photocopy of your ID card or other proof of yourself, submitting collateral, the original BPKB and STNK, and also signing a Letter of Proof of Credit (SBK). In addition, the physical state of the vehicle is generally 5 years old at the latest of the filing for the motor and 10 years old at the latest of the filing for the car. Prospective debtors will get the loan amount based on the physical condition of the vehicle submitted.

5. Capital from Savings

This method is probably the most commonly used way of obtaining business capital. If you have large enough overall savings that are not used as an emergency fund, then you can use them as business capital. The thing to remember is that you need to be able to use it wisely. You must be able to return the savings if the business capital has returned.

6. Unsecured Credit Capital (KTA)

As the name implies, prospective debtors can borrow unsecured or collateralized funds from lenders, in this case, the bank. Then how do you give a loan to review the creditworthiness of a prospective debtor? Prospective debtors will be reviewed through a credit history of utilization on credit cards, car or motorcycle loans, mortgages, or online loans.

Generally, banks will provide an additional maximum KTA limit of IDR 200 million to 300 million. Another advantage of KTA is that banks usually give additional low-interest and fixed-term installments every month. The requirements for submission are relatively easy and generally consist of a copy of self-evidence, proof of the latest income or salary, a business license for the self-employed, a bank account, and an NPWP.

7. Community Business Credit (Kur)

This type of business capital financing is intended for MSME owners. It is necessary to have a business that has been in operation for at least 6 months (requirements vary by lender).

You can apply for it at several government banks that already have cooperation. Generally, the credit offered is relatively low, ranging from 10 percent to 15 percent per year. The requirements for submitting an individual KUR include administrative requirements such as KTP, KK, and business licenses. Then, prospective debtors have been running their businesses for at least 6 months and are not receiving productive credit from banks and/or program loans from the government.

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8. Loans from family or friends

It may appear that obtaining business capital is simple. But there are several factors to consider in order for your loan to run smoothly and without problems. Although family and friends are the people closest to us, having the opportunity does not allow us to do things that are beyond our means. Let alone when it comes to money.

Well, those are some reviews that discuss business financing loans. If you have a business, there is nothing wrong with getting a business loan so that the business you run can grow.


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