The first step to starting your own business is to develop a particular idea. Figure out the skill or resources available to you that you would like to focus on. The answer to the question of how to start a business with no money and the first step to start your own business is to find something appraisable without the need for a high capital; selling services is one of them. Household, lifestyle, and labor-heavy services such as cleaning, dog walking, and car washing can also be transformed into an enterprise to start your own business.

Choosing the service to sell depends on what suits one’s abilities, talents, schedule, and personal preference. There are various types of services you may offer to sell, from highly in-demand abilities such as writing and photography to technological assistance such as becoming a virtual assistant or social media marketer; there are a lot to choose from to start your own business. Another business model that requires low budgetary cost is selling handcrafted goods, including artworks and unique crafts. This is another type of business where one can turn their ability, talent, or hobby into a money-making strategy.

Technically, you can start your business idea with no money, but it is impossible to execute and maintain it without one. So, it begs the question, how to get money to start a business? There are two ways to acquire money to start your own business: to ask for financial assistance from family and friends and to engage in loans. Asking for financial assistance from loved ones is not bad, but such activity has emotional constraints and limitations. On the other hand, loans give you more freedom on the amount of money to start your own business.

To answer the question of how to get money to start a business, you must first be familiarized with two common types of loans–personal loans and peer-to-peer lending. A personal loan refers to borrowing money from banks and other financing companies to gain capital to start a business. Banks and other financing institutions profit from this method by adding interest on the return of the money. The lower the claim, the better it is for you.

Another type of loan is peer-to-peer lending which offers relatively low-interest rates than banks and other financial companies. iLending, an institution that supports starting businesses by providing bang-for-buck deals, is one of the institutions where these kinds of offers exist.

After brainstorming for a business idea, choosing a business, drafting a business plan, and finding a financial source, the final step to starting your business is creating a maintenance plan. This involves actions to preserve the company after its launch.

A personal loan is an unsecured loan from a bank or non-banking financing company that can secure a borrower’s needs through flexible funding. It is a non-collateral loan suited for professionals or other credit-worthy people who need quick cash for education, business, or travel at flexible payment terms. It is considered one of the most convenient loans as its personal loan requirements and qualifications are less strict and can be done online, with no collateral, compared to when done in a bank.

iLending offers flexible and convenient online = loans that often fit a borrower’s terms, unlike any other loan options. It allows the borrowers to apply for a loan based only on personal reasons. Hence, it can be best considered when one plans to start your own business and how to get money to start a business. So, if you are planning to start a business, then iLending can be a good start in looking for topics that will serve as your guide.

More reasons to get a personal loan through iLending are paying for education, starting a business, paying off credit card or debt, buying a car, funding travels, buying a car, and availing of home improvement services.

iLendings personal loan rates also offer online loans with only 1 to 3 percent of low-interest rates. Risk type A will have 1.5% per month, Risk type B will have the 2% per month, and Risk type C will have the 3% per month. Borrowers can get a loan amount ranging from RM 50,000 to RM 2,000,000 for 12 to 36 months.

Once all of the necessary documents are accomplished, the expected processing time of the team is only 1 to 2 days. Once verified, the loan application will be endorsed to partner lenders. The individual will be immediately notified when a lender decides to fund the loan or if the funds are already ready for disbursement.