A business that continues to experience growth and continues to show progress is certainly a matter of pride as well as providing challenges to the owner. In this case, the business owner is obliged to continue to work to make this happen continuously until the business becomes large. There are so many things that business owners must strive to keep developing, one of which is to keep cash flow or money flowing smoothly. To ensure this, a capital injection that is not insignificant is needed so that external sources of funding are needed. In this case, the bank is one of the most promising goals, although not infrequently the complexity of the process and the difficulty of the conditions that must be met makes the debtor dizzy.
Another problem that often arises when a customer submits a loan or loan application to a bank is that the request is not granted or approved without a clear reason. Such a thing is certainly very annoying and of course gives new problems. To avoid this, it is better before applying for a loan from the bank, the customer knows and understands the business portfolio owned in detail. This is a very important thing so that later credit applications can be approved by banks and other credit providers.
Well, here are some important things that customers must always remember and do before applying for a loan, namely:
Choose the Best Bank
In Indonesia there are many banks and financial institutions that offer loan products. Before applying for credit, customers should know which bank or financial institution is best able to provide what they need. There is no harm in comparing several banking companies and credit providers to find out the level of service, products and professionalism they have. it is also important to find out the ins and outs of credit offered, ranging from the interest rate, tenor, the amount of installments to the facilities provided to customers.
Know Your Needs
The lender will generally ask where the money will be allocated. In this case it is to provide capital injections to the businesses that are run. Not infrequently, lenders will explore deeper about the business being run and how the money will be used. Here, customers should master and understand what their needs really are; provide clear and detailed information so that the lender no longer has doubts.
Know the Amount Needed
Customers must be able to adjust the amount of credit to the needs. It is better not to apply for credit beyond the requirements because it will be very burdensome expenses per month. The greater the credit number, the greater the amount of installments that must be borne every month.
Calculate the ability to pay installments
Customers who want to apply for credit to advance the business should have calculated the amount of installments that can be paid every month. This is important so that there will be no late payments that can result in credit records.
Consider the Period to Be Taken
The longer the credit tenor, the smaller the installments that must be paid. However, too long a credit period also means that the burden of expenses that must be borne is also getting longer. So, calculate what is the most ideal time period so that later it does not burden expenses.
In general, both banks and credit providers always ask for collateral or collateral in the form of valuable assets, such as BPKB vehicles or land certificates and industrial machinery. In this case, the customer must be wise, namely by considering the amount of funds needed with the value of the collateral to be used. Indeed, applying for credit with a small value but with large collateral will be easier to approve but it is very risky. It would be better if adjusting the collateral value with the credit value to be submitted.
Get to know the loan products that will be taken
There are many credit products offered by banks and loan service providers. Each product has advantages and disadvantages that customers should understand. That way, customers will be able to easily choose which loan product that suits their abilities and needs.