May 29, 2015

Applying for Credit at the Bank

Need investment for your own business? Actually, getting a bank loan is not that difficult as once thought. Many people are getting it, so why can't you?

In principle, banks will only provide loans to people they can trust. So the first thing you have to do is to get the bank to have confidence in you. How? Fulfill all their requirements!

Debitors
The banks divide loans into two types: individual or corporate. Of course, the requirements for each are different.

If you have filed a loan application under your name, then you are making a personal (individual) loan. Individual loans are usually given out to people in various professions such as doctor, government employee, architects, fashion designer, merchants, etc.

If you send in an application in the name of a group or company, then you are under the corporate loan program. All businesses valid under law (such as PT, CV, Firma, etc) can apply for credit.

Individual Loans
The Bank then categorizes individuals into three groups, which are entrepreneur, employees and professional, based on the profession of each loan applicant. The requirements are more or less the same, which requires:

  1. Photocopy of identity document(KTP, SIM, or passport).
  2. Photocopy of a marriage certificate (for those who are married).
  3. Photocopy of the Kartu Keluarga (family card).
  4. Photocopy of the savings, checking or current accounts for the last 3-6 months.
  5. Photocopy of a salary slip along with a letter testifying the applicants status within a company (for employees only).

Corproate Loans
The requirements for this group of loans, include:

Legal Documentation of the company

  • Photocopy of the identities of each of the directors and commisioners of the company.
  • Photocopy of the company tax number (NPWP).
  • Photocopy of the incorporation license (SIUP).
  • Photocopy of the Declaration of the launching of the company signed by a notary.
  • Photocopy of the TDP (Tanda Daftar Perusahaan).

Financial Performa

  • A photocopy of the saving, checking or current account in any bank for the past 3 - 6 moonths.
  • Other financial information such as proposed budget, profit and loss statement, cash flow, sales records, and other records.

Collateral
Banks usually require a collateral to guarantee a loan. It can take many forms such as certificates, bonds, as well as in the form of land, buildings, vehicles, etc. Most importantly, the value should be greater or at least the same as the value of the loan recieved.

Give it a try. Good luck! 
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