Bank Business Loan Requirements: Documents You Need to Apply

Many people want to start a business but don't have capital that fits their budget. One way to get started without worrying about funds is to apply for a business loan at a bank. Several banks in Indonesia now offer business loan programs for their customers. You do have to meet the requirements each bank sets, though. These requirements assure the bank that you are able and ready to repay the loan in installments until it is fully settled. Here are the requirements banks commonly ask for when you apply for a business loan:

1. Prepare documents that prove your identity

Banks ask for this one very often when you apply. It includes a photocopy of your national ID card (Kartu Tanda Penduduk, or KTP). The address on your ID must match where you live now. If the data doesn't match, you will usually be asked for a letter from the kelurahan (the local village or ward office) in the area where you live. If you are married, a photocopy of your spouse's KTP is also needed for the loan application.

2. Marriage certificate (if you are married)

If you are married, a marriage certificate is a mandatory requirement, and a photocopy is all you need. The certificate serves as proof that the assets belong to both spouses and that both must be informed. If anything goes wrong with the business loan later, both parties have to take responsibility.

3. Photocopy of your Family Card

You also need to prepare a photocopy of your Family Card (Kartu Keluarga, or KK). It lets the bank see how many family members depend on you. With that, the bank can decide whether you qualify for a business loan.

Those are the requirements typically needed when you apply for a business loan at a bank.