Most people recognize Changi as the area that houses Singapore’s international airport. Situated in Singapore’s eastern coast, Changi isn’t only an aviation hub, but it’s also a jump-off point to known attractions like the Smith Marine Floating Restaurant and Pulau Ubin.
Of course, Changi has a few noteworthy spots of its own that don’t require a ferry trip. This includes Changi Boardwalk, Changi Point Coastal Walk, and Constant Wind Sea Sports Centre, where you can go sailing, kayaking, and windsurfing.
If you’ve got a business in the area that requires capital, then applying for a SME business loan with a licensed moneylender can help.
What is a SME business loan?
A SME business loan is a loan that’s catered to SMEs, or small to medium enterprises. This can be used to fund a startup, upgrade business equipment, renovate existing property, or keep a business running.
Advantages of taking a business loan with money lenders
- Great for urgent matters: Banks may take up to 7 business days to go through your documents and get your application approved. Moneylenders, meanwhile, can approve your application in as quick as an hour.
- Transparent interest rates: Fast cash loans from moneylenders can only charge up to 4% in interest per month. SME business loans have a different rule, though. Depending on a business’ profile and credit analysis, the monthly interest can be anywhere from 5 to 15%.
- Flexible repayment plans: A1 Credit can adjust your repayment plan based on your current financial situation. As a general rule, repayment period is usually between 6 to 24 months.
- Accessibility for different clients: If you’ve incurred an unsatisfactory credit score from trying to make your business work, and you’re still determined to persist, A1 Credit has the resources to help you achieve your goals.
How to apply
To be eligible for a business loan, your business must meet the following criteria:
- Registered in Singapore
- Operational for at least a year
- Has a minimum turnover of SGD 60,000
To approve your application, listed below are the documents that you must have:
- NRIC of the business’ directors and partners
- Latest business profile or information report from the Accounting & Corporate Regulatory Authority (ACRA)
- Latest income tax assessment notice (personal and business)
- Latest financial statement
- Latest business contracts or invoices
- Latest utility bills under the business
- Bank statements from the last 6 months
- List of assets owned by the business, directors, and partners
- Office or shop tenancy agreement
You can get your SME business loan in three simple steps with A1 Credit. Here’s how:
- Submit application: Go to our website and fill out our online form or call us if you prefer to speak with one of our loan professionals.
- Meet us to discuss your plan: Schedule an appointment and you’ll be invited to meet us at our office. Here, we’ll explore the details of your plan further.
- Get your funds upon agreement: You can get your funds as soon as you agree to the plan’s terms and sign the contract.
How can A1 Credit help you?
Throughout the years, A1 Credit has helped many entrepreneurs build their businesses from the ground up and overcome financial challenges.
No matter what you need the funds for, we know exactly how to create a plan that fits not just your immediate business needs, but also your ability to repay.
Need a business loan? Check out Changi Personal Loan to kickstart your business. Your business doesn’t have to get sucked into a financial trap. Thanks to A1 Credit, you can be sure that there’s a Licensed Money Lender Changi that you can readily trust.
Contact us at 6336 0833 or [email protected] to get funding for your business today.