Tech
GX Biz FlexiLoan, business loan up to RM150,000 for M’sian SMEs
[This is a sponsored article with GXBank.]
Disclaimer: This article is for educational and informational purposes only. It is not intended to be a substitute for financial advice. Readers are encouraged to do their own research before arriving at any conclusions based solely on this content. Vulcan Post disclaims any reward or responsibility for any gains or losses arising from the direct and indirect use and application of any contents of the written material.
Picture this: you’ve built something real. Maybe you’re a home-based F&B business pulling in steady orders every day. Maybe you’re a freelance designer with a growing client list. Maybe you own an online store that’s ready to scale, if only you had the capital to stock up.
The hustle and drive is there. But when it comes to accessing financial assistance, the journey can feel like it wasn’t quite designed with you in mind.
Because the reality is that most conventional financing options often come with lengthy requirements, such as audited financials, lengthy processing times, and collaterals.
This might work well for more established businesses, but it’s not as easily suitable for sole proprietors and side-hustlers who are still building their paper trail.
If that sounds familiar, GXBank, a digital bank licensed by Bank Negara Malaysia and a member of Perbadanan Insurans Deposit Malaysia, has designed GX Biz FlexiLoan specifically to solve this headache.
Dictionary time: Sole proprietorship is a one-owner business. There is no legal separation between the company and the owner, who receives all profits but is liable for all debts and losses. It’s the easiest type of business to establish and a popular choice for small businesses, individual contractors, and consultants.
Source: Investopedia
What exactly is GX Biz FlexiLoan?
Simply put, GX Biz FlexiLoan gives SSM-registered sole proprietors in Malaysia access to up to RM150,000 in financing.
What sets it apart from a typical business loan is that it works like a revolving line of credit. Instead of receiving one fixed lump sum, business owners are given a credit limit they can draw from multiple times whenever they need, as long as the amount stays within their approved limit.
It’s a model that, according to CGC Digital CEO Yushida Husin, opens more pathways and support for financial institutions to serve segments that have traditionally been underserved, such as MSMEs.
And yes, no interest or fees will be charged for the amount that you don’t borrow from the credit line.
To better serve entrepreneurs and sole proprietors, GXBank is challenging the system by removing some of the other common hurdles in getting business financing.
How GX Biz FlexiLoan makes your entrepreneurial life easier
1. You don’t need a business bank account (yet) to apply.
One of the most frustrating catch-22s of traditional banking is that they want to see a business bank account before giving you a loan. They often demand for years of formal corporate financial history, strict P&L statements, guarantors, and collaterals.
But in most cases, you’re applying for the loan to grow your business in the first place.
GX Biz FlexiLoan breaks that cycle by accepting your personal bank statements as alternative underwriting documents. You just need six months’ worth of statements from any bank and you’re good to go.
And no, you don’t need any collaterals or guarantors to secure it.
2. You can get approval within minutes, not weeks
Anyone who’s applied for a business loan the traditional way knows the drill: Submit your documents, then wait. And wait. And wait some more, sometimes for weeks, only to receive a response that still isn’t a definitive yes.
For a sole proprietor trying to move quickly on a business opportunity, this kind of timeline could mean the difference between landing a deal and watching it slip away.
With GX Biz FlexiLoan, you apply once through the GXBank app and your credit line can be approved within minutes. You don’t have to visit any physical branches to queue for hours or chase down bank managers to make your case.
The straightforward digital process is intentionally simple, acknowledging just how limited your time is as a business owner.
3. When you drawdown, the cash hits your Biz Account instantly
Getting approved for credit is one thing, but actually being able to use it when it matters is another.
A lot of financing products come with a delay between approval and disbursement, which doesn’t help much when you need to cover an unexpected expense immediately or pay a supplier by the end of day.
With GX Biz FlexiLoan, you can receive cash in your Biz Account within minutes of your credit line being in place. You only pay when you actually drawdown, so having the credit line sitting ready in the background costs you nothing.
Think of it as a financial safety net that’s always on standby without the maintenance fee.
4. You can borrow from as low as 3.8% p.a., with repayment terms that fit your needs
One of the quieter anxieties around taking on business financing is the fear of being locked into a rigid repayment schedule. It’s a scary thought, especially because you can’t predict when your business will have a slower month.
Instead of providing flexibility, the business loan could end up adding pressure on top of the usual ups and downs of running a business.
The team at GXBank understands this and has structured GX Biz FlexiLoan to avoid exactly that. You can borrow from as low as 3.8% p.a. (EIR from 7% p.a.) and repay over up to 36 months. There are no processing fees and no early repayment charges.
So if you have a strong quarter and want to clear the balance ahead of schedule, you can do so without being penalised for being financially responsible.
How you can get started
In line with GXBank’s digital banking concept, GX Biz FlexiLoan is embedded directly into the app itself, offering a more seamless and accessible financing experience compared to traditional loan processes.
All you have to do is:
- Download the GXBank app from the Google Play Store or Apple App Store.
- Tap on “Business Banking” and fill in your business details.
- Check your eligibility by verifying your MyKad and upload the last 6 months of your business or personal bank statements (from banks other than GXBank).
- Enter your 12-digit SSM Business Registration Number (BRN).
- Tap “Get Both” to accept the credit that is you’re offered.
That’s it. The whole thing is designed so that you can conveniently get it done directly from your phone, at any time, anywhere, without stepping into a single branch.
To qualify for GX Biz FlexiLoan, you need only be a Malaysian aged 18 and above, with an active SSM registration.
If all of this sounds great but you’re thinking, “I don’t actually run a business”, GXBank has you covered on the personal side as well. GX FlexiCredit is GXBank’s personal financing product for individuals, giving you access to credit on your own terms.
After all, financial flexibility isn’t something only business owners need, but everyone has moments where a little financial flexibility goes a long way.
Disclaimer: Terms and conditions apply. GX Biz FlexiLoan and GX FlexiCredit are subject to eligibility criteria.
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