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Is it Legal to Apply For the Loan Through FinCrew? Is That Ah Long?
Yes, it is.
As FinCrew is an official partner of Vanta and Boost Credit, you won't be breaking any rules if you apply for a small business loan with us because both partners are big names operating entirely within the confines of the law.
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How Does an SME Loan Work?
A small and medium-sized enterprise loan is a type of funding designed to cater to SMEs that meet specific criteria. As such, it typically doesn't require collateral. You can easily access such services if your business meets the requirements and can find an excellent Financier.
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Why Are SME Loans a Better Alternative to an Investment?
Because SME loans help you achieve a lot more, for example, they help you expand faster, get a better position to capitalize on various emerging economies, and even enhance your creditworthiness.
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What is the Purpose of an SME Loan?
The main purpose of these loans is to support the financial needs of a small or medium-sized establishment.
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What Credit History is a Factor for an SME Business Loan?
The most crucial credit history here is your Credit Score. However, how much this variable matters will vary from one financial institution to another.
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What is the Tenure of an SME Business Loan Repayment?
Again, this depends on the financial institution; however, the loan tenure is usually from 12 months to 7 years.
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How Much SME Business Loan Do I Qualify?
There's no fixed value for this as several variables influence the size of the loan amount you can get. It includes factors like the size of your annual income, your Credit Score, and type of business. For instance, if you own an Sdn Bhd company, you can choose either Boost Credits or Vanta Capital. But if your company is sole proprietorship, you can opt for Boost Credits, which have a lower entry-point for the loan.
For Sole proprietors, enterprises, and any kind of company:
- Boost Credits
- Minimum 1k to maximum 100k of loan
- Full digital AI approval process within 3 minutes
- For larger companies (Only Sdn Bhd)
- Vanta Capital
- Minimum 200k to maximum 10 millions of loan
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Why Are Loans Important to Businesses?
Because it gives businesses the resources they need to better themselves, especially in developing countries.
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Why is it Difficult For Small Businesses to Get Loans?
It is often due to several reasons, including insufficient credit lines, limited cash flow, and too many work applications.
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How Long Should it Take to Process an SME Business Loan?
It depends on the financial institution. For example, FinCrew can get you the resources you need in 24 to 48 hours, and it usually takes much longer for many other financial institutions in Malaysia. Take the first steps towards securing that business today!