Understand that starting a business requires you a lot of resources and among the other things, capital investment is a major concern. This capital can be raised in so many ways, one of which is applying for business loan. Contrary to popular perception, a business loan is relatively easier to access and pay off. All you need to do is a little homework to determine the amount of funds you need, the integrity of the money lenders, and the loan repayment period. Please go through the list of money lenders on Minstry of Law (MLAW) to make sure that you are about to engage a licensed money lender in Singapore instead of the “the loan sharks”.
Once you are through with these assessments, you can now proceed and apply for a business loan from your money lender of choice. If you need supplemental information, we at EasyFind have a valuable section that can help you understand further about business loans.
Apply for Business Loan in Singapore
Understanding Business Loan
Business loan falls under two major categories namely the Short-term business loans and the Long-term business loans. Short-term business loans are the loans a business takes in order to finance some of the daily-operations of the company or firm. As expected, such loans are characterized by their relatively small size and shorter repayment periods. Usually, businesses apply for Short-term loans when they are on a temporary cash flow crisis. Could be your suppliers have defaulted and in a bid to not disappoint your customers, you opt for a loan so as to temporarily source for products from other suppliers as you wait for your regular suppliers to make their deliveries. Another instance where businesses may take short-term loans is when they wish to pay off their temporary staff as they wait for invoices on sales to be processed before their permanent employees get remunerated. One example of short-term business loans in Singapore is the Working Capital Loan.
On the other hand, long-term business loans are loans taken to finance the operations of a business on a larger scale. As these loans are the exact opposite of short-term loans, you can expect the amount borrowed to be higher and the repayment period to be longer. Also, the threshold for applying for such loans is usually higher and the terms are more stringent. An ideal example of long-term business loans is SME Loans. Some of the projects commonly funded by long-term business loans is expansion of a company’s offices, acquisition of major assets such as machinery, land and motor vehicles etc.
It really does not matter the kind of loan you are looking for, our focus here at EasyFind is to ensure we assist you to get your business from its knees and onto its feet. Whether your firm is on the verge of collapse and you’re looking to pump some new life into it, or you have identified an ambitious expansion plan you wish to take, you can always trust us to deliver.
Here at EasyFind, we understand the pains business people have to go through and the rigor involved in vetting loan applicants. Usually, you are subjected to lots of waiting time when your application may never be approved in the first place. However, regardless of the kind of business loan you apply for from our recommended licensed money lending institution, we can ensure that their vetting process is done within the least expense of time. We see no reason why your business should be interrupted in the very process of trying to salvage it. The professionals will go through your documents and ensure their immediate processing and verification so the loan can be granted to you as soon as possible.
You will also find our customer-oriented approach quite resourceful for you. For instance, you could be a newbie in the dynamic world of commerce and not necessarily understand the repercussions of the loan you are applying for. Our money lenders will make it our business to explain everything for you; from the amount appropriate to the repayment period and even the interest rates expected. In the end, you will find it easy to determine the feasibility of the loan applied for the project earmarked for financing.
EasyFind works as a boundary spanner that communicate between the money lenders and the public as we will recommend you the best money lender that offers all manner of loans for various business needs. From cash payday loans to personal cash loans and even quick foreigner loans, we offer it all. It doesn’t matter what your loan requirements are; we will surely help you meet them.
Last but not least, the money lenders offer some of the most competitive rates in the industry. While we are a business entity, we do not let the profit motive get in the way of our service delivery. Our aim is to ensure we help you secure the loan you are looking for and enable you launch your business into new heights.
In order to take advantage of our loan services, it is general practice that you meet certain requirements. The following are what will be required of you;The business must be Singapore-Registered.
- Photocopies [both front and back] of all partners, shareholders or sole proprietors.
- The income-Tax Notice-of-Assessment of all the partners.
- The financial statement of the company from the previous financial year.
- The bank account statement of the company for a period no longer than 6 months.
EasyFind is your one-stop solution for all types of loan requirements in Singapore. For more information on our services, visit our website or give us a call and have one of our able staff take care of your concerns.