Where to Get SME Loan in Singapore

If you're looking for funding for your business in Singapore, then you've come to the right place. Linkflow Capital is an SME business loan consultancy firm in Singapore. Its mission is to help small business owners secure the financing they need to keep their businesses going.

As a regional finance hub, Singapore has a range of alternative lenders that offer different types of financing to SMEs. Many of these lenders can offer financing at much lower interest rates. Small businesses typically don't have much experience with a range of different types of financing options. They tend to only apply for funding when they need to secure large contracts or expand every few years. Because of this, it can be difficult to know where to turn when they need financing.

One place to start looking for a loan is online. There are several online loan portals that will help you find a suitable loan. One such service is Lendingpot. It connects SMEs with 45 different lenders in Where to get sme loan in singapore, including private lenders and peer-to-peer lenders. The service is aimed at helping SMEs overcome the information asymmetry and lack of transparency in the SME finance market. It offers various types of business loans, including working capital loans, invoice financing, and property loans.

OCBC is another good choice for SMEs looking for a large loan. This bank offers flexible repayment terms and has a S$500,000 minimum turnover requirement. In addition, it has an easy application process and instant loan status updates. In addition, if your business is less than six months old, UOB's SME loan is a good alternative to government-subsidized loans.

Banks will look at your business credit score and other factors when assessing whether or not to grant you a loan. A high credit score will make you more appealing to lenders, while bad credit can lead to a declined loan application. Some banks allow multiple applications for SME financing, but it doesn't necessarily improve your chances of approval. In addition, banks will often perform personal credit searches on the directors of businesses during the application process. Too many searches can damage a director's credit score.

Another option for SMEs looking for financing is to sell their ownership shares to investors. This method allows businesses to raise up to 90% of their invoice value in cash. While this option requires sacrificing some revenue upfront, it's less expensive than an unsecured loan. The downside to this type of financing is that you can still be held liable for unpaid invoices.

A business can apply for an SME loan for a number of reasons, including expansion. For example, a business may need money for equipment purchase, stock purchase, or renovation. An SME loan from a bank can help you get the financing you need to make these improvements.