10 Ways to Get a Loan for Initial Business Capital

Admin BFI
25 January 2022
10 Ways to Get a Loan for Initial Business Capital

There are many varieties of getting a loan for initial business capital. Along with the development of technology, applying for loans to get business capital is getting faster and easier. Business capital is not the main factor in starting a business, indeed. There are also businesses that run without capital, such as the drop shipper system. However, with true capital, it can be used in the short and long term to pay for monthly operating costs, employee salaries, or as capital for business equipment and supplies.

This time, the BFI Finance team would like to give recommendations for BFI friends who are confused about where to get business capital from. We provide 10 ways to get a loan for initial business capital. Let’s go!

How to Get a Loan for Initial Business Capital

1. Multipurpose Financing (BPKB Guarantee)

Multipurpose Financing is financing intended for the procurement of goods, funds/or services needed by the debtor for use/consumption and business purposes by pledging assets to the lender. The assets used are usually in the form of vehicle BPKB and house certificates.

The advantages of applying for a loan through multipurpose financing are:

  • High loan ceiling
  • Long tenor
  • The amount of funds obtained is greater

In addition to having advantages in submitting, there are several risks including the risk of losing assets and the long application process compared to Unsecured Loans (KTA). The process takes a long time due to the need for a field survey to determine the creditworthiness of the credit.

Through BFI Finance, you can get a loan for initial business capital with low interest and the approval process. As one of the oldest financing companies in Indonesia, BFI Finance offers various waivers in applying for financing and prioritizing customer needs.

Requirements that must be met include a copy of identity, vehicle BPKB and original STNK, maximum vehicle age of 10 to 15 years for cars and 10 years for motorbikes, and not having a profession that violates Indonesian law.

2. Online Loans

Online loans can now be said to be on the rise. To apply for financing on an online loan is quite easy because it does not require complex requirements and is unsecured. Therefore, this type of financing is starting to be favored by the public because of its convenience. Usually, this online loan financing method does not require asset guarantee requirements. Thus, it is relatively easier than applying for financing that requires collateral. As of October 2021, there are 106 online loans in Indonesia that already have official permits and are registered through the OJK. However, you must remain careful, because there are also many illegal online loans, not officially registered with the OJK.

The submission requirements include the original attachment of the ID card, NPWP, and salary slip. If you register through the application, you will usually be asked to take a selfie with your ID card. The age of the prospective debtor is also required to be at least 21 years old to 60 years old.

3. Capital From Cooperatives

You can also apply for a loan for business capital through the Savings and Loan Cooperative. Considering the cooperative principle is family, you must become a member of the Savings and Loans Cooperative if you want to apply for a loan. The advantage that exists in the Savings and Loans Cooperative system is that there is a division of the remaining operating results. Any remaining funds will be divided equally among its members.

Generally, the requirements for applying for a loan at a Savings and Loan Cooperative are a photocopy of your ID card, family card, salary slip, loan application form, photocopy of PBB, or electricity account.

4. Pawn Assets

Another way to get a business capital loan is to pawn your assets. Choose a pawn company that is legal and has a good track record. Don't let your assets disappear for no apparent reason after you pawn them. You can pawn assets such as vehicle BPKB, electronic goods, gold bars, gold jewelry, and others.

If you pawn your vehicle, then the requirements for submission are a photocopy of your ID card or other identities, submit collateral, original BPKB, and STNK, and sign a Proof of Credit (SBK). In addition, the physical condition of the vehicle is generally in the last 5 years from filing for a motorbike and the last 10 years from applying for a car. Prospective debtors will get a loan amount based on the physical condition of the proposed vehicle.

5. Capital From Savings

This method is probably the most commonly used way of getting business capital. If you have a large enough total savings and it is not used as an emergency fund, then you can use it as business capital. The thing to remember is that you must be able to use it wisely. You must be able to return the savings funds if the business capital has returned.

6. Unsecured Credit Capital (KTA)

As the name implies, prospective debtors can borrow funds without collateral or guarantees from the lender, in this case, the Bank. Then how do lenders review the creditworthiness of a prospective debtor? Prospective debtors will be reviewed through a credit history of use on credit cards, car or motorcycle loans, mortgages, or online loans. Generally, banks will provide a maximum KTA limit of IDR 200 to 300 million. Another advantage of KTA is that banks usually provide low interest and fixed installments every month.

The submission requirements are relatively easy, which generally consist of a copy of personal identity, proof of latest income/salary, business license for entrepreneurs, bank accounts, and TIN.

7. People's Business Credit (KUR)

This type of business capital financing is intended for MSME owners. A requirement is to have a business that has been running for at least 6 months (requirements can be different for each lender). You can apply for it at several state-owned banks that have partnerships. Generally, the loans offered are low, ranging from 10% to 15% per year.

The requirements for submitting individual KUR include administrative requirements such as ID cards, family cards, and business licenses. Then, the prospective debtor has been running his business for at least 6 months and is not currently receiving productive credit from the bank and/or program credit from the government.

8. Loans from Family or Friends

How to get business capital on this one does sound easy, but in fact, there are several things that must be considered so that your loan remains smooth without obstacles. Family or friends are indeed the closest to us, but this opportunity does not make us do things that exceed the limit, especially when it comes to money. Make an agreement on a stamp that regulates the amount of the loan, the term of the loan, when to return the capital, and the profit-sharing system if any.

9. Working Capital Credit (KMK)

Working Capital Credit is a method of financing offered by several banks to business owners engaged in trading, services, and/or related to the procurement and production processes. Working Capital Loans are still included in the Business Capital Loans. The scope of use of Working Capital Loans is wider, that is, it can be used as business operational capital or to pay trade payables. The credit period is generally only 1 year. Therefore, this type of credit is classified as short-term credit.

The requirements for applying for a loan for individuals include an application form, KTP, KK, NPWP, current/giro account for at least the last 6 months, business license, and homeownership documents. Meanwhile, for the submission of prospective debtors in the form of a business entity, it is a photocopy of the ID cards of all management and shareholders of the company, a copy of the Financial Statements, the Deed of Establishment of the Company and its Amendments, a business license, as well as a copy of the collateral ownership documents.

10. Crowdfunding

The last way to get a loan for start-up capital is crowdfunding. Crowdfunding is a way to collect business funds through an online platform. There are various types of crowdfunding, namely Donation Crowdfunding, Reward Crowdfunding, Equity Crowdfunding, and Debt Crowdfunding commonly referred to as P2P Lending. Financing with this method has also become very popular recently as the number of existing start-ups grows. The tip is to always use a crowdfunding platform that has obtained an official business license from the OJK to avoid unwanted things.

In addition, tips to successfully get crowdfunding are to make a business proposal that is attractive and as detailed as possible. The information presented can be in the form of business prospects and objectives, as well as long and short-term projections. You also have to create an account on the online crowdfunding platform so you can see the exposure.


Those are the ten ways to get a loan for initial business capital, BFI friends! After reading this article, we hope that you will not take the wrong steps in making decisions in getting business capital. Choose a method that you feel is not burdensome and safe. There is good news in August 2022, BFI Finance is holding a #PastiMerdeka promo! Get cashback of up to IDR 77 million for every loan application through the BFI Finance website! You can access more information via the following link. Wish you the best in starting a business!

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