What is a Business Loan?
A business loan in Singapore is also often referred to as a bridging loan. This type of loan is to offer you instant cash loan to meet challenges of running and growing a business such as finance company growth, purchase new premises and pay employees’ salary and bonuses. As you will need to borrow money fast, you may not have the time to jump through endless hoops at the banks before being finally rejected.
Rarely a great business opportunity will present itself, and you would not want to lose this chance to reap a good profit. In such a case, you can turn to a licensed money lender in Singapore for a commercial loan. The short-term repayment duration ranges from daily, weekly, bi-weekly to monthly repayment. Flexible repayment scheme can be arranged depending on the financial situation of your company.
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Handling your situation can be less stressful. Simply send an online loan application to get your funds now!
Short Term or Long Term?
Short Term Loan
Legal money lenders offer either short term or long term business loan in Singapore. When companies take up a short term loan, they need a small amount of cash urgently. Such immediately dispensed small business loans can be important in managing daily demands of staff, clients as well as day-to-day cash flow in other areas. It does not require any security but it needs to be repaid back within a short period time.
Long Term Loan
As for long term commercial loan in Singapore, it is applicable to companies that need a large sum of money fast. They find it beneficial to re-invest the loan in high income-generating activities which allow them to earn more than what they have borrowed (including interest to be paid). Although it also does not need any collateral and it can be repaid over a longer period of time, the interest rates will naturally be higher.
Size Does Not Matter
Most companies are able to obtain a business loan in Singapore from a private money lender irregardless of their size. Whether you are a small business or a big firm must be a private limited company registered with ACRA, you are eligible to apply. There are various kinds of loans available to cater to needs of different scale of business. Especially for those in small businesses, you should not be deterred and go ahead to apply for one if you need to.
Cash flow is king in the business world and we are able to put that money in your hands at the best possible interest rates, together with flexible repayment options. Contact us today to enquire about your business loan!