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The majority of small businesses are started with personal funds from savings, a company buy-out/retirement lump sum, or a loan from family members. Some people take part-time jobs so that they'll have a steady source of income while their business gets going. If your needs are greater, EPIC PLANNING SDN. BHD. offers several financing solutions to help you establish and grow your business.

Again, this will depend on the nature of your business. Some office equipment found in small businesses includes: - Computer - Printer (many prefer laser printers for the professional image they create for marketing materials, etc.) - Fax machine - Separate telephone line for business number with voice mail - Separate telephone line for fax number - Internet connection (including e-mail and web browsing capabilities) - Photocopier You might consider investing in a multi-function machine that combines a printer, fax, scanner, and copier in one unit. If you require other specialized equipment or tools, you'll want to be sure to include these purchases in your budget when you're planning your business. To find out more, contact a SMI Commercial Facility Solution near you.

Common grounds for declining credit applications include: - Applicant does not have ability to repay the facilities applied for - Purpose of borrowing not in line with facilities applied for - Unsatisfactory financial results of the applicant - Applicant has other substantial borrowings resulting in high gearing (i.e. amount of loan is higher than capital) - Unsatisfactory conduct of current account by the applicant - Unsatisfactory repayment records with other lenders - Applicant has cases which are pending legal action - High business risk such as over dependence on single buyer or supplier - Lack of financial commitments from business owners (i.e. not willing to commit additional working capital) - Weak management of the applicant - Sole proprietor/partners/directors/shareholders/guarantors etc. facing bankruptcy actions from other parties It is a requirement by Bank Negara Malaysia that financial institutions should inform the borrowers formally in writing, clearly identifying the areas in which the borrower failed to satisfy. This will ensure that the borrowers are aware of the reasons for the rejection as well as assist the borrower to improve in the areas concerned for future loan applications.

Bank Negara Malaysia requires all commercial banks and finance companies to maintain a dedicated complaints unit within their institutions. You should initially attempt to resolve your complaint directly with your financial institution. If you remain dissatisfied with their response, you may escalate the issue to Bank Negara Malaysia. For concerns specifically related to Bumiputera business loans, you can also approach ERF Sdn. Bhd., a special-purpose vehicle established by Bank Negara Malaysia to serve as a one-stop centre for Bumiputera financing matters.

If your business loan application is declined, it is often due to one or more of the following reasons: -Credit History Issues: Negative records such as Non-Performing Loans (NPL), bankruptcy, or BMC entries on your personal or business credit report. -High-Risk Business or Industry: Your business or the industry it operates in may be considered too risky or unpredictable. -Insufficient Collateral: Not enough security to support the loan. -Incomplete Business Plan: Missing or unclear information in your business plan. -Cash Flow Limitations: Insufficient cash flow to ensure regular repayment of the loan.