A newly established business needs capital to operate is very necessary. Borrowing capital from a bank is always a stable source of loans and is the optimal solution for businesses to choose with confidence. So can newly established businesses borrow capital? The article in the News section below, SeABank will share the necessary information for you to grasp.
What is a new business loan?
First we need to understand the term: “What is a start-up business?”. That is the business carrying out legal procedures at the competent state agency to determine the legal status of the business and ensure legal protection of business activities.
Loan for newly established businesses is simply understood as newly established businesses that need to borrow capital from credit institutions.
Can a newly established business borrow capital?
The answer is Yes. Currently, some financial institutions and banks have provided capital to newly established enterprises with the condition of providing a business license to apply for a loan. However, not all banks provide credit to this group of subjects and SeABank is no exception.
At SeABank, credit is only granted to businesses that have been operating in the industry for at least 06 months. So how can businesses borrow capital from SeABank? Please refer to the following content.
Each bank will have different loan conditions.
How can businesses borrow capital at SeABank?
To be able to borrow capital from SeABank, businesses need to meet the conditions on business time in the industry, in addition, they need to prepare related documents such as: legal documents, financial documents, loan plans...
Below are the general conditions that businesses need to know when borrowing capital at SeABank.
- Have a business license and clear legal documents.
- The business has been in operation for 06 months or more.
- The business and its legal representative must meet the requirements on reputation and credit history at other credit institutions and SeABank
- Healthy business financial situation, ensuring debt repayment obligations for current loans and other loans.
- Effective loan solution, high feasibility.
- Other conditions as prescribed by SeABank from time to time.
SeABank has many loan packages for businesses to suit all needs.
Loan packages for businesses at SeABank.
Below are some loan packages for businesses at SeABank.
- Business loan packages by industry: SeABank currently has a capital program by industry such as: Financing construction and installation enterprises, financing pharmaceutical and medical supplies enterprises, financing according to supply contracts, etc.
- Chain financing loan packages: SeABank is currently implementing financing for distribution dealer chains such as Thaco and Honda car chains, financing dealers, distributors, suppliers of FMCG industry partners...
- In addition to loan packages, SeABank also has basic loan forms such as: Overdraft, working capital supplementary loan by limit/by item, installment business capital supplementary loan...
Loan application and process at SeABank.
To have a complete set of documents and grasp the most basic information, businesses need to understand the list of loan documents and the basic process as follows.
Loan application:
- Legal documents.
- Loan application profile.
- Financial capacity profile.
- Collateral profile.
Loan process:
Step 1: Business prepare loan application
Step 2: SeABank receives documents and conducts appraisal.
Step 3: Decision to grant/not grant credit.
Step 4: If SeABank approves the credit, the business will proceed to sign the related documents.
Step 5: Complete related procedures and make disbursement to Customers
Step 6: SeABank conducts post-loan checks.
Conclude
Thus, SeABank has answered the question of whether newly established businesses can borrow capital. At SeABank, there are always policies to support businesses quickly and conveniently. To learn more about business loan packages, you can refer to the "Products" category on the official website of SeABank or contactHotline 1900.599.952 (KHDN) for advice.
