My dear friend and readers,
I thank you for the likes and always keeping an eye of the new posts. Also welcoming the new readers too. Thank you for following this humble blog all these while.
If you are wondering.. why this title.. let me explain, this post will be filled with frustration, maybe thought-provoking and some anger as well.
I just got to jot this feeling down now to tell myself, this is a growing and learning process. Something which if I ever succeed later and if I ever look back in time (through this blog), I will smile at this later.
So… here goes…
As many of us know that Christmas is just round the corner.. (really.. is like less than 3 months away), my DH has been thinking of getting in more goods to sell during this festive period. We have recently been rejected by this Bank for a business loan. (To be honest.. all these while, our business has been funded by ourselves, through our personal loans.. Yup.. no help whatsoever)… The thing is.. to apply for a business here at where I am/live, we have to produce 2 years of working accounts to show to the bank, before we can apply for any Small-Medium Business Loans (also know as the SME loans).
For many months, we have been struggling to get this kind of business loans, so that we are also trying to be solvent by FY 2017. (As our accountant said that our company is not solvent–> seriously like whatever this means; cos’ according to them, we have too many personal loans)
*** Okie.. hold that thought.. I want to say, money did not fall from the sky for us, or neither are we born with a silver spoon. *** okie.. holding my cool for this
Anyhow.. after the failure of the first try, we seek help from another bank and they also say they cannot give us a business loan. the same reason as the first, as we are not earning last year (we were in the RED)..
** OKie.. DH then went on explaining to the bank administrator that we had our first retail shop and also we had to get a company van, we were at the edge of expansion** so that bought us to be in the Red…
Anyhow.. by now, you can the picture, it seems like we are not able to get any business loans… that simple.. cos we are not earning last year.
Now my questions here is..
1) what kind of criteria (as a Bank) is looking at?
So you just think that the first two years, a small business like ours (which is trying to grow here have to make money within two years? ) I’m seriously frustrated here. All of us hope for the obvious too…
but oh hello… even if you have a baby.. that baby will take 1-2 years before he can walk and then may 2-3 years before he/she can speak and maybe 3-4 years before running? what I’m trying to say here is.. THINGS TAKES TIME!!!.. I also would want the business to earn money too. Seriously who do not want it.. but, it is just that we are not seeing it this last year…
2) Is it just a cookie-cutter list that (as a Bank) you are following?
–> We have been paying back our loans duly, we have been paying our rent duly, we have sales daily and we are growing daily. How do I know this? Cos I’m really busy all these while. I have not taken any break since April.. really!! Can’t the part where we have been paying back our loans duly be a plus point. Oh for goodness sake, we are also paying back the interest too.. and banks earn these interest from us.. The money we loan are not FREE.
3) We are just Small-Medium businesses, which also support other Small-Medium businesses. Some has been owning us money and we are also trying our best to get back from them. (But we didn’t ask them to pay back interest.. cos We know that this is a bad period and everyone in business is trying to stay afloat!
I seriously have endless questions…. to ask and ponder…. To seek help desperately. Seriously like what’s seems t be the issue here.
anyhow.. the anger and frustration has somehow subside now.
When I ask DH what are we going to do from here. (He just say.. let’s look elsewhere)
This man is really god-send.. He has seriously no effect from not getting the things he want, and he will move on to find somewhere else. I think from his smile and positive outlook, I’m no longer frustrate anymore. Yes.. Let’s look somewhere else my DH, we will find help elsewhere.
In short, I think the system here (where I live) uses a cookie cutter list to ostracize businesses/people. How I know, cos I’m living in it, and I have not been happy about it. In this system where people are not looking out of the box, not looking elsewhere, scare to fail and not able to be creative. I despise this system to the max.
I know for sure, we will survive though this bad times. It is just this bad period. I will continue to pray and look elsewhere like what DH says. And how I know that.. Cos we have been living very minimally over the past years. I Know, as what we have been doing here is for our dreams. For our love and passion of what we are doing. We are not doing a job, we are living our passion. I know deep down the business is not failing, it just needs time to grow.
I want to add-on that people will grow stronger in times like that. (Maybe this is a lesson for me which I have to go through…)
I will stop grumbling here and move on to a current project (which by the way needs Huge amount of time to grow)
<Chose this project to bring a point that: even in craft.. we are not cookie-cutting anything.. each item looks different in their colours and tension even as it is made from the same crafter. The Back and the front part looks different too>