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Business Loan Application Process
For the entrepreneur who wants to expand her business but the knock limited capital owned by short-sighted, it never hurts to access capital from banks. Here are some step guide to get to the source of that capital. Because, rather than business people who need capital, banks also need the borrower. So, in fact not cheap capital poured from following some criteria must be met.
Banking much lately giving credits to businesses KUKM segment. There are even banks that set up the unit / special division that handles micro credit, such as Bank Danamon formed KUKM Center. Bukopin for example, from the beginning has been put Cooperatives and SMEs as a core business. This is intended to get closer to the KUKM bank. But unfortunately, many entrepreneurs among KUKM still giddy with the subject of the credit. This may be because of their ignorance about the ins and outs of credit application and pengucurannya. If you or your co-operative wanted to get a loan from the bank, then you need to know step by step that must be passed. Well, here is a process or workflow application and disbursement of loan:
1. Preparation Prior to the Bank
Before going to the bank, you should first prepare some important documents, such as: a) Creating bankable proposals (bank qualified) which includes, historical data business, business development (balance sheet and income statement); sources and uses of funds, type of , number, and credit usage; receipts and expenditure in the form of cash flow (cash flow). b) Administrative and legal business. If you have prepared all documents and files as supporting the loan application, the next step to meet a bank officer at the credit. Usually you will be given a form (field) application for credit.
2. Credit Application Form
In certain banks, your credit application form filled out by a bank officer. So, you just interviewed alone. However, it is possible, on the other bank you will fill out the form itself. Formlir it generally contains about personal data, business profiles, business experience, the number of managers, number of employees, type and marketing of products (goods or services) including raw materials, business turnover, profit margins on average, capital, collateral, purpose of the use of credit , credit needs, ownership of Guarantee, and so forth. Once the form completed and signed by you, and then handed back to the bank officer, then the bank will perform a variety of analysis on your loan application is.
3. Preliminary Analysis of Bank Officer
Initial analysis conducted by the bank, among others, a). Interview, which is useless to seek the truth data in the credit application form and required additional data bank. b) Call visit (visit the bank to your business premises). c) Call report (trip report)
4. Advanced Analysis by Banks
a. Financial analysis on several points, namely: i) Liquidity, the ability of a prototype effort in repaying debts due. ii) Leverage, measure how much the assets of borrowers being financed by a bank (lender). This calculation can be seen through a comparison of total debt held by its own capital, the ratio of total debt with its own capital, and the ratio between the net revenue interest to be paid. iii) the business activity, assessed by the bank through a comparison of payments received by inventory, sales comparisons with the stock's total assets and working capital turnover in a year. iv) the profitability or the ability to generate profits, measured by the ratio of net income by total assets, and net income comparisons with their own capital; b. Business Analysis / industry; c. Management Analysis; d. Juridical Analysis of Business; e. Character analysis; f. Security Analysis.
5. Approval / Denial of Credit
After doing the above analyzes, the bank will approve or reject your loan application. If the banks agree, then you (the debtor) will acquire offering letter (letter of conditional approval in principle) from the bank concerned.
6. Fastening / Credit Agreement
When you (the debtor) agree to the terms contained in the offering letter, it will be followed by binding of financing (credit) and guarantees.
7. Disbursement Credit (Financing)
After offering leffer followed by the binding / credit agreement (debts), then the next process is the withdrawal of funds. Each bank has different policies. For example, Bank Muamalat, you will not be given money in the form of cash, but the items you need according to your business. Selection of manufacturer or trader who sells regulated in agreements between debtors and creditors.
8. Monitoring
The Bank will conduct monitoring (supervision) of your efforts to run a sustainable (continuous) and rose to major. Nomitoring system implemented is at the discretion of each bank. Typically, the nature of reciprocity, you create a business activity report, and the banks will come to your business.
9. Debt Repayment
Debt that you get from the bank, have the right to be paid. Make budget provision for the budget every month from your business income. Good luck trying to become a successful entrepreneur, joined by hundreds of thousands of successful SMEs actors.
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