You are looking for financial help from payroll funding and vendors to add more investment in your capital to expand your business. Unfortunately, you don’t have enough revenue to cover your all expenses or dreams. But you see your business will give you great revenue in the near future, you don’t need to worry because Singapore provides helping hand in the form of business loans.
The future of Business in Singapore is very bright because they borrow money to entrepreneurs or business owners at very low and flexible interest rates. Singapore offers a business loan for every industry.
The future of Business in Singapore is very bright because they borrow money to entrepreneurs or business owners at very low and flexible interest rates. Singapore offers a business loan for every industry. Here’s the detail of a few business loan interest rates Singapore.
Payroll Financing Business loan:
Payroll financing is a type of business loan which you get to fulfill the company’s payroll requirements. Every owner is trying to manage the cost to grow their business. If owners realize, the company is not generating enough money they go for payroll financing business loans. SBL Bank in Singapore gives loans to borrowers on suitable terms. They fund you the amount of S$5000-S$5000,000 in 1-3 working days with a 9% interest rate. The repayment schedule is daily or weekly and tenure is 3 years.
Pet Stores Financing:
If you’ve got a strong entrepreneurial spirit and you are a pet lover. You want to start your own pet store business. But you are worried how would you get funds to turn your dream into reality? Well, you don’t need to worry because KapitalBoost has the solution for you. You can borrow S$500,000 in 30 days. The processing fee is 2% which is an industry standard. The interest rate is 6%-10%, you can repay it in 3-5 years with easy monthly instalments. Your personal financial statement is necessary to get this loan. Once you get the money, open your store, purchase essentials, equipment, and inventory.
IT solutions Company Business loan:
In the 21st century, software tools are important for both business and personal use. Every industry needs IT and its services. IT companies made a lot of profit because of the growing need for software and their maintenance. If you’re running an IT company and wants to expand it in order to earn more profit, you’re good to go with the Business loan. FundedHere in Singapore gives you the opportunity to get the loan of S$100,000- S$1, 000000 with 10% interest rate. Tenure is up to 5-7 years. The processing fee is 5%. To get this loan, your business should be owned by Singaporeans and you must have positive net tangible assets. Your application will get processed in 30 days.
Food Stall business loan:
What is the most famous thing in Singapore? You would get “Food” as an answer if you ask anyone in Singapore. If you’re passionate about cooking and like to share your love for cooking with the public, Enterprise Singapore will help you to do so. It offers unique SME microloan. The maximum loan amount is S$100,000 and the interest rate is 3.5%-6%. The administrative fee is 3%. You can repay this money with fixed repayment schedules. Tenure is 3 to 7 years.