Getting a business loan for your company or business is important, especially if you experience issues with your day to day operations. It’s not all the time that a business will always profit, and there will be times when a breakdown in operations occur because of lack of funds. In times like these, getting a loan is the best course of action, especially if you know that you can pay for the loan after a small hiccup that your business encountered. A business loan can also help your business function smoothly without any problems.
Equity is a company that offers different Business Term Loans for every business in Singapore. As long as your business is eligible, you can apply and get the loan approved in no time. Choose the ideal business loan for your business now with Equity.
Check Your Eligibility and Apply for a Business Loan Now
If you are interested in applying for a business loan in Equity, you need to ensure that you are eligible first. For one, your business needs to be incorporated in Singapore for at least two years. Next, there must be at least 30% Singaporean or Permanent Resident Shareholding. Lastly, the annual group sales are up to S$100 million, or the group employment size is not more than 200. These are the only eligibility you need to check for you to apply for a business loan with Equity. The lenders are mostly major banks in Singapore or financing companies.
Find the best financing solution for your business for a very low cost at Equity. They offer easily accessible information regarding the many business loans in Singapore. They have provided many financing resources to companies both in Singapore and overseas. Find out what kind of business loans you need only here.
The Different Business Loans for Every Company
There are currently four types of business loans in Singapore. The SME Working Capital Loan, Temporary Bridging Loan, Business Term loan, and SME Micro Loan. These are great for SMEs and can help your business grow effectively and operate efficiently.
The SME Working Capital Loan is a type of business loan that’s a government-supported initiative for SMEs and other businesses. All qualified SMEs can obtain up to S$1,000,000 compared to the previous amount, only S$300,000. The Temporary Bridging Loan is a business loan by the Singapore Government and administered by Enterprise Singapore for SMEs and Businesses in Singapore. If your business has been registered in Singapore and operates with at least 30% Singaporean or Permanent Resident shareholding, you can apply for this loan.
Business Term Loans are mostly used for expansion, purchasing and paying for goods, cash flow, and more. The SME Micro Loan is shared between the Singapore Government and the respective issuing bank. It enables businesses and SMEs to get a foothold and use it for business development.
Choose the best business loan for your business now. As long as you are eligible and are facing some financial challenges at this time, you can make use of the business loan to help you grow your business for many years to come!
John leads a busy, corporate life, but he makes sure that he has time for himself. And that means writing articles that he is passionate about. He shares his content on his personal blog or with clients who need them.