Many might ask what is the alternative to bank financing? Is there any other ways for me to get loan for my business? Or do I need to resort to the ‘Ah Loong’s’ to get a loan?
In the past, the only source of financing are the traditional banks. Furthermore the process to get a loan requires a lot of documentations. Not to mention you’ll need to have collateral for a better chance in securing your loan.
Nevertheless, these days many banks don’t lend to SME businesses like they used to. Furthermore the traditional banks approval rate is rather low. It is to ensure that the bank never puts itself at too much risk.
Why is it so hard to get a business loan from your bank?
Here are some reasons why traditional banks rejects a large number of small business bank loans applications. There are chances are you’ll be rejected if :
- The assessment shows that your income will not be able to pay for your current expenses plus additional loans.
- The business proposal and projections are not good enough to make a risk-free decision.
- Your employment in a stable position is not long enough to meet bank requirements.
- Your credit scoring is poor or no collateral is available.
- You have plenty of loans and excess debt in your name at this time.
- The bank don’t understand your business concept or have lack of faith in it.
Modern Alternatives to Financing Solutions
Growing your business costs money and time. Therefore for most SME owners an alternative to bank financing to get a loan is a must.
As a matter of fact in this modern era comes exciting innovative financing options. You can get the loan you need to build and grow your business without hopping through hoops at the bank around your corner.
Now let’s take a peek at what type of financing solutions are available right now.
- Licensed Finance Company
- Angel Investor
- Crowdfunding
- Venture Capital
- Business Incubators & Accelerators
- Microfinance Providers
- Government Grants and Subsidies
Alternative Financing with Limra Assets
At Limra Assets, we give you the financial flexibility to help you move on. Taking your financing to the next level has never been easier. Hence, our Shariah Compliant Financing Solutions & Flexible Business Loans are customised to meet your distinctive needs.
Given that our expertise in corporate finance and sizeable network of investors enables us to finance a variety of circumstances. As a result we are able to offer an exclusive range of Shariah Compliant Financing Solutions to meet the needs of a diversified client base involving corporations as well as high net worth individuals.
We offer innovative shariah financing models – the only of its kind in Malaysia. Basically our shariah financing structures are fully compliant with the policy standards established by the Shariah Advisory Council (SAC) of Bank Negara Malaysia.
As the reference body and advisor to Bank Negara Malaysia on Shariah matters, the SAC is also responsible for validating all Islamic banking and takaful products to ensure their compatibility with the Shariah principles.
Lastly, if you have exhausted traditional financing options, we can be the fast, easy solution to your financial hurdles. Our services revolutionise the way the industry operates in Malaysia.
About Limra Assets
Limra Assets is a Shariah-compliant financing solutions financier that provides loans for property financing, SME businesses loans and gold investment. We offer a range of financing options to help individuals and businesses, including alternative financing for businesses that are unable to obtain funds. Our goal is to provide access to funds for investments in a Shariah-compliant manner that focuses on transparency, customer service, and competitive rates, Limra Assets can be a valuable partner in your gold investment journey.
If you’re interested in learning more about Limra Assets and our Shariah-compliant financing solutions for property purchases, gold purchases or business loans, please contact us for more information.
Disclaimer:
It is important to note that taking out a loans for any purchases and gold investment, whether through Limra Assets or any other lender, carries risks and should be approached with caution. It is important to carefully consider your financial situation and investment goals before taking out a loans, and to ensure that you fully understand the terms and conditions. Additionally, investing in gold carries its own risks and should be done with the guidance of a financial professional. This information and all external links are provided for educational purposes only and should not be considered financial advice.