Yesterday I met a few Malay Malay home based entrepreneurs who have some brilliant ideas for their businesses but lack the financial means to do so. From what I have heard, they tried approaching some local banks to secure some business loans but they were returned on the spot because they are home based business entrepreneurs. Luckily, I knew of one particular organization in Malaysia that is quite friendly with home based business entrepreneurs and told them to give it a try some time soon.
If you are facing the same problem too, maybe the information that I'm about to share in a moment would help you in your home based business. All right, the organization that I was referring to was actually MARA or Majlis Amanah Rakyat. I'm sure you know them pretty well and let's not waste too much time talking about them. They have a number of credit facilities specifically for Malaysian Malays (Melayu) or Bumiputeras. Which one of them is okay for home based business entrepreneurs then?
Sorry to say that not all credit facilities that they have is okay for home based business entrepreneurs. To the best of my knowledge, I knew of only one. It is their Small Business Easy Loan facility. Unlike their other business loans, this one does not require applicants to have physical business contracts addressed to some commercial shops or offices. You can send in your application even though you are only planning on running your business from home. However, you must have a company registered under your name, at least a SP (Sole Proprietor) business registration. That should be easy for most, is not it? An SP business registration only costs Malaysian ringgit $ 60.00. You can seek for financial assistance up to a maximum of Malaysian ringgit $ 10,000. It's not much but it would give you some financial relief. 🙂 By the way, no guarantors or collaterals are required. Hassle free!
If you are interested in knowing more about this Easy Loan facility, feel free to drop by at your nearest MARA office. Good luck and all the best!