7 Sources of Business Capital Assistance to Start a Business!

Business capital assistance can now be considered as an alternative when you want to open or build a business. It cannot be denied, that capital often becomes the main problem for someone who wants to start a business. This constraint is what makes people bury their intentions in opening a business. However, in this advanced technological era, you don't need to be afraid of failing to realize your dreams of starting a business, because there are now many business capital assistance services available for those of you who want to start a business but are constrained by capital. You can choose and adjust according to your needs and abilities to pay installments. So now there is a way out that you can do in doing business.

Here is Business Capital Assistance to Start Your Business

1. Business Capital Assistance from Banks

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Banks become a solution for some people who need business capital, including those applying for capital assistance. Unsecured Loans (KTA) are one of the bank products that you can use as business capital. As the name suggests, the submission of this bank product does not require collateral or guarantees. Prospective borrowers can also have credit card requirements or not. Even with this assistance, it can reach a nominal value of 500 million rupiahs.

2. Business Capital Assistance from Fintech

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Fintech abbreviations for financial technology companies are now widely circulating. Included in it is Fintech P2P Lending as a distributor of financing or assistance. However, it is important to note that online assistance submissions here must be registered and directly supervised by the Financial Services Authority (OJK) so that you can avoid high-interest rates.

3. Business Capital Assistance from E-Commerce

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For now, finding capital assistance for businesses is relatively easy. E-commerce now not only becomes an online buying and selling website but also provides online assistance services and facilities, especially to its seller partners. An example is online assistance from Tokopedia. Here there are already two types of online assistance and instant funds. Generally, E-commerce will provide assistance ranging from 1 million rupiahs to 1 billion rupiahs. Meanwhile, for instant funds with a minimum amount of 600 thousand rupiahs and a maximum of 2.4 million rupiahs, the maturity period is up to 6 years.

4. Business Capital Assistance from the Government

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KUR or People's Business Credit is an official program from the government. This one assistance type has also been subsidized by the Indonesian government so that small, micro, and medium-sized business actors or MSMEs can also obtain very cheap interest rates. Micro KUR from the government has been channeled through banks. With a total of up to 253 trillion rupiahs this year. Meanwhile, BRI Bank has received the most allocation of around 170 trillion rupiahs. For the maximum assistance ceiling at BRI bank can reach 50 million rupiahs, with an annual interest rate of 6 percent, and a term of 24 months. Regarding the requirements and procedures for assistance through KUR micro BRI, among them are:

- Individual, having a business that has been running for a minimum of 6 months, running a business in one of the online companies or e-commerce, not currently receiving credit from other banks, except credit cards, KKB, and also mortgages

- Willing to complete important documents, such as ID cards, family cards, and business licenses

- Assistance submissions can be online through the official KUR BRI website, or offline by visiting the BRI Bank branch office or BRILink agent directly.

5. Business Capital Assistance from Pawnshops

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Another solution in looking for business capital is to borrow directly from Pawnshops. This SOE has business assistance products along with guarantees. Pawnshop's creative business capital assistance is the provision of credit in installments per month for MSMEs by applying a fiduciary system. The guarantee can be in the form of a motorbike or a motorbike BPKB. The assistance ceiling here starts from 1 million rupiahs to 500 million rupiahs, with a term of 48 months and an interest of 1 to 1.5 percent per month. The requirements for applying for Business Capital Assistance at pawnshops are relatively easy, make sure you are an Indonesian Citizen (WNI), have a valid ID card, have a fixed income, and have collateral (for certain products).

6. Business Capital Assistance from Cooperatives

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Savings and loan cooperatives can be one alternative for those of you who are looking for funds. This cooperative is simply an organization in the economic field that is run to maintain common interests. Its activities usually carry out various savings and loan activities based on family principles. assistance here is specifically for its members only. However, you can apply for funding for business capital because the entire process of applying and becoming a cooperative member is straightforward to do.

7. Business Capital Assistance from Personal Funds

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It may be the right step for those of you who choose to use personal funds as business capital. At least you can be a little calmer because you don't have to think about the profits of the business that is currently running. You also do not have a responsibility to anyone, but only to yourself. However, you should also think about the future of the business that has been run. 

Those are some tips regarding Business Capital Assistance that you want or can run, but it must be emphasized that when applying for funds, it is not entirely guaranteed to be safe. There are several risks that you need to consider such as the risk of rising interest rates, and the risk of fraud by targeting people who will assist. So make sure to be careful when borrowing funds for business capital.