Yes, debt consolidation loans are available for businesses in Malaysia to help streamline debt repayment. These loans combine multiple debts, like credit card balances and equipment loans, into one loan with potentially lower interest rates and better repayment terms. Several banks and financial institutions offer such loans, typically requiring collateral like commercial property or equipment. The loan amount depends on the collateral value and business creditworthiness.
Consolidating debts into one loan can simplify financial management, improve cash flow, and boost credit scores by demonstrating responsible debt handling. However, the consolidated loan still needs to be repaid in full. For businesses struggling with multiple debts, exploring debt consolidation could reduce overall interest costs and improve their financial situation.