The Top 3 Banks That Offers the Best Business Loans for Entrepreneurs to Grow in Malaysia. | WMA 富道学院

The Top 3 Banks That Offers the Best Business Loans for Entrepreneurs to Grow in Malaysia.

The Top 3 Banks That Offers the Best Business Loans for Entrepreneurs to Grow in Malaysia.

A business loan is specifically intended to set up a business or expand an existing one. As with all loans, a business loan also involves a debt creation, which is repaid with interest. Many Malaysian banks provide competitive business loans to help entrepreneurs grow their business and optimise their profitability. Read on to find out more about the top 3 best business loan that is offered in Malaysia.

MAYBANK

This is the bank with the lowest interest rate in Malaysia. They offer the following 2 types of funds to business owners:

1. Fund for Small and Medium Industries 2 (FSMI2)

  • This is to help SMEs and SMIs in export and domestic-oriented sectors.
  • Manufacturing and services sectors are eligible to apply for this loan.
  • The loan amount that the applicants can opt for is a minimum of RM50,000 and a maximum of RM3 million.
  • The repayment period of this loan is 3 years from the date of the first drawdown.
  • The interest rate of this loan is 5.0%.

2.  New Entrepreneur Fund (NEF)

  • NEF is a government-aided fund that can be used to enhance the growth of small and medium-sized Bumiputra enterprises
  • Also,  to encourage business ventures with established corporations.
  • The maximum loan amount is RM5 million for 8 years at an interest rate of 5.0%.

RHB BANK BERHAD

This bank 4 offers different types of business loans that are easily accessible and are offered at very competitive interest rates

1. BizPower SME Business loan

  • This loan is solely for working capital purposes and is easily accessible across 27 Commercial Banking Business Centres in Malaysia.
  • The loan amount is up to RM2 million and the tenure is five years.
  • This loan is given to Malaysian-controlled or Malaysian-owned businesses that have been operational for a minimum of two years.

2. BizPower SME Property Loan

  • This loan is for the purchase/refinance/re-mortgage of completed and under construction properties.
  • The benefits of this loan include 90% finance margin for up to 25 years.
  • No processing fees, and is easily accessible.
  • The loan amount is a minimum of RM100,000 up to a maximum of RM10 million.
  • This loan is given to Malaysian-controlled or Malaysian-owned businesses that have been operational for a minimum of two years.
  • The age cap for guarantors is 70 years old upon maturity of the loan tenure.
  • The loan tenure is for a minimum of 5 years and a maximum of 25 years for commercial and residential properties.

3. BizPower P.I.N.T.A.S

  • This SME loan is for working capital purposes without collateral.
  • The loan amount is a minimum of RM100,000 and a maximum of up to RM500,000.
  • The loan tenure is a minimum of 1 year and a maximum of 5 years.

4. BizPower Equipment Loan.

  • This loan is given for any acquisition of equipment for industrial or business purposes.
  • The loan amount is RM50,000 and the tenure is from 18 to 60 months.

ALLIANCE BANK

This bank offers both conventional and Islamic business loans at competitive rates, minimal administrative and documentation costs, as well as fast turnaround time. Here are the 4 most prominent loans that this bank offer.

1. Equipment Financing

  • This loan is usually used for machine/equipment acquisition, procurement of any equipment for construction, printing, material handling, food and beverage, transport, and many other industry sectors.
  • The equipment financing rates offered by Alliance Bank is fixed for the whole term/period of the facility.
  • This allows businesses to better manage if there is an increase in Base Lending Rate (BLR). Currently, BLR is fixed at 6.67%
  • Some of the key features of this loan are high finance margin, longer repayment period of up to five years.

2. General Working Capital

  • This type of loan has myriad requirements – from buying stock to managing overheads, and other business-related purposes.
  • Some of its main features are term loan, overdraft, and revolving credit. 

3. Business Premises Financing-i

  • This Shariah-compliant financing facility provided by Alliance Bank is mainly used for acquisition and refinancing of the commercial property.
  • The key features include financing tenure up to 25 years, high finance margin, daily rest profit that helps a business owner to save interest etc.

4. General Working Capital-i

  • Alliance Bank offers this loan facility for commercial, industrial and residential property development projects.
  • A bridging financing helps to bridge the builder’s cash flow to ensure the continuation of the development project till completion.
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