These days, Dhoby Ghaut is recognized as one of the MRT’s major interchange stations. In the early 1900s, Indian washermen (“dhoby”) washed clothes in a stream nearby. The steps that led down the stream were called “ghaut”.
For those who’ll stop by Dhoby Ghaut, you can check out attractions like The Istana, which is known as Singapore’s “White House”, the National Museum of Singapore, and Fort Canning Park. Clarke Quay is also nearby, which is a riverside commercial area.
If your business in Dhoby Ghaut requires financial backing, applying for a SME business loan can provide that much-needed safety net.
What is a SME business loan?
A SME business loan is a loan that’s specifically designed to cover business-related finances. It can be anything from providing business capital, upgrading equipment, or simply keeping the business afloat amid a crisis.
Advantages of taking a business loan with money lenders
- Quick approval times: Licensed moneylenders can approve your loan in as little as 1 hour — something that’s incredibly important if you need the finances immediately.
- Flexible repayment terms: Depending on your particular case, your repayment schedule can be anywhere from 6 to 24 months.
- Transparent interest rates: For business loans, licensed lenders make it known right away that monthly interest rates range from 5% to 15%.
- Eligible to businesses that don’t have good credit scores: A1 Credit remains supportive of any business, regardless of their credit history. Even if you currently don’t have the best credit score, we will be able to work out something for you.
How to apply?
Here are some factors that you need to keep in mind during the application process:
- Your business must be registered in Singapore
- It must have been running for at least 1 year
- Its minimum turnover should be SGD 60,000
- NRIC of all directors and partners
- Latest information report from ACRA (Accounting & Corporate Regulatory Authority)
- Latest income tax assessment notice (personal & company)
- Latest financial statement
- Latest invoices and business contracts
- Latest company utility bills
- Bank statements from the last 6 months
- List of assets held by the company, partners, or directors (if any)
- Shop or office tenancy agreement (if any)
- Submit application: Apply for a loan by going to our website, sending an email, or calling us.
- Visit our office: You will be asked to come to our office so we can further customize your business loan.
- Get your cash: If you agree to all the terms that have been discussed, you can sign our loan contract and get your cash instantly.
How can A1 Credit help you?
No matter what size your business is, you can trust that A1 Credit will back you up with your financial needs. We are always determined to provide businesses with the right financial solution because it is our mission to help you succeed.
With a feasible business model at hand, we know that your business will thrive, and you should have no issues paying us back on time.
Maintaining a business is no easy task. As a renowned Licensed Money Lender Dhoby Ghaut, A1 Credit knows this much, so we’re here to lend you a helping hand if you need it.
Contact us at 6336 0833 or [email protected] to get a customized business loan plan today.