Sembawang is a residential town that is situated in Singapore’s Northern Region. The area was named after Mesua ferruginea which is colloquially known as the Sembawang tree.
Because of its proximity to the Straits of Johor, Sembawang served as a home to one of the major British naval bases during the colonial period. Today, Sembawang is mainly known for its laid back vibe, which you can feel when you go to places like Sembawang Park and Sembawang Hot Spring Park.
Should you ever plan to put up a business near Sembawang, getting a SME business loan may be the solution that can help you boost it.
What is a SME business loan?
A SME business loan is a loan that is specifically targeted at small and medium-sized business ventures. Unlike the usual fast cash loans that have a maximum limit of 4% in monthly interest, SME business loans have an interest rate of 5-15% depending on the business’ credit analysis and SME profile.
- Fast approval rates: No need to wait for days to confirm your application’s status. With licensed moneylenders, you can get approved for a loan in as little as 1 hour after submission.
- Manageable requirements: Getting a business loan from moneylenders is accessible to more businesses, thanks to their manageable requirements (see below).
- Flexible repayment terms: Most business loan plans can be arranged to be repaid within 6 to 24 months.
- Tailored to your needs: Moneylenders see to it that all the terms and conditions of your loan plan match your needs perfectly. This gives you a better opportunity to budget your finances accordingly and drive your business towards success.
How to apply?
- Business should be registered in Singapore
- At least one year in operations
- At least SGD 60,000 turnover
- NRIC of all business directors and partners
- Recent business profile or information report from ACRA (Accounting & Corporate Regulatory Authority)
- Recent income tax assessment notice (business and personal)
- Recent financial statement
- Recent business contracts or invoices
- Recent utility bills under the business name
- Bank statements from the last 6 months
- List of assets owned by the business, directors, and partners
- Tenancy agreement (if applicable)
- Apply online: Submit your application through our website. You can also call us if you’d rather speak with one of our loan experts.
- Discuss terms in person: Upon your application’s approval, you’ll be asked to visit us so we can finalize the terms of your loan in person.
- Get your loan: After signing the loan contract, you can get the amount that was agreed upon within minutes.
How can A1 Credit help you?
A1 Credit knows how challenging it can be to grow any business, especially when finances are an issue. That’s why we’ve made it easy for business owners to loan the capital they need, regardless of their credit score.
You simply need to present a feasible business model plus your capability to repay and your loan can be approved as soon as possible.
Should you ever need to apply for a SME business loan, we are the Licensed Money Lender Sembawang that can help you out with that. Check out Sembawang Money Lender Singapore for business loans to help kickstart your business!
Contact us at 6336 0833 or [email protected] to learn more about our business loan options.