Singapore Business Loans
If you’re looking for a business/trade loan, SmartLoans is here to help. We take the time to understand our clients’ businesses and requirements and help their businesses realize their full potential by securing the best business or SME loans in Singapore. Read more about the types of business & SME loans we handle and fill in the form to the right to get started.
What is a Business Loan and what can I use it for?
A business loan is a source of financing for businesses and companies to expand and improve, purchase supplies and equipment or to help you through a rough period when business cash flow might be bad.
Where can I get a business loan?
You can get business loans from banks and other financial institutions. Banks typically are more stringent with their criteria, and it can be hard for companies not established for 2 years to get a loan from a bank.
We’re connected with alternative financing companies that are more supportive of small businesses that are established as little as 6 months before.
Because we know the bank’s underwriting criteria, we can help you save time by zooming in on the ones that are likely to grant your loan and we help you get your paperwork in order and prepare a compelling application so that your loan has a higher chance of getting approved.
What types of businesses can get a loan?
Most businesses are eligible to take up a business loan. The more common ones are:
- Bars and clubs
- Trading companies
- Service based businesses
What are some of the things that banks and lenders look at?
At the end of the day, the banks want to get back their money together with interest. The less risky your business is, the more likely you’ll get approved. Typically, companies just getting started are not eligible to take up a business loan, because there is a higher chance that the businesses might not succeed.
Stable cash flows, number of customers, company ownership, purchase orders from clients and your past track record are just some of the things that the banks and lenders will look into when determining whether to grant you the business loan.
As business loans are complex and vary from case to case, it’s always best to speak to a Business Loan Specialist who can advise you on your best options. Fill in the form to the right and we’ll get back to you to as soon as possible.