Loan perniagaan | Pinjaman kl
A business loan, also known as "loan perniagaan" in Malay, is a financial product specifically designed to provide funds to individuals or entities for the purpose of starting, expanding, or managing a business. It is a type of debt financing where a lender, such as a bank or financial institution, provides the borrower with a specific amount of money that must be repaid over a defined period of time, usually with interest.
Here is a description of some key aspects of a business loan:
Purpose: Business loans can be used for various purposes, including purchasing equipment, inventory, or real estate, funding working capital needs, expanding operations, or consolidating existing debts. The loan amount and terms may vary depending on the specific needs of the business.
Loan Amount: The loan amount is the total sum of money borrowed by the business. It typically depends on factors such as the business's creditworthiness, financial history, revenue, and the lender's policies. Lenders may have maximum and minimum loan limits.
Interest Rates: Business loans usually come with an interest rate, which is the cost of borrowing the money. The interest rate can be fixed or variable, and it is determined based on factors such as the borrower's creditworthiness, the loan term, prevailing market rates, and the lender's policies. Lower credit risk borrowers typically receive more favorable interest rates.