It was down to the banks to lend me the money.
The obvious choice was to apply for a personal loan. After doing some research, it seemed like the best package and rate offered was provided by Bank Rakyat (5-6.5% based on tenure). It was surprising to see most of the commercial banks in Malaysia have high interest rates for personal loans (between 8-12%)...and we wonder how on earth do the banks make a lot of money.
The only problem with getting a personal loan with Bank Rakyat, is that my company has to be in the list of panels with the bank. My company, however, is not a panel. The panel registration with Bank Rakyat would take at least a month for approval.
That was when I decided to fall back on my last option, the one which I've learned a year ago from financial blogs and web sites but haven't really mastered or put it to use effectively. I'll write about how I used OD or Overdraft Facility to start my new business in my future post.