Microloans refer to the smallest loans available to Singaporeans; the microloan is a short-term business loan for SMEs starting with a minimum funding of S$3,000. Micro business loan in Singapore is a simple financing solution to ease your business; without cash, you cant grow your business and beat your competitors.
Micro business loan in Singapore is the most flexible choice for small business as they can be used for different purposes. For instance, you can go for microloans to meet your daily operation needs, boost your business or invest in a project.
If you hope to expand your business but have cash flow issues, these microloans are the best options for you. Microloans are easy and flexible financing for your SME; they meet your urgent needs as you get the cash as soon as you apply for it.
Don’t have much idea about the micro business loan or how it is beneficial for your small business? What are the criteria for applying? Or do you fall in the criteria? Here well will discuss microloans so you can have a better idea about how to finance your business.
Small businesses are facing a lot of challenges, and a shortage of finance is one of them. In such situations, even slight funding to such businesses can go a long way as the banks don’t consider giving loans to small enterprises due to the risk that comes along. At such times, microloans are the perfect choice to fund businesses that are short on cash.
Moreover, it is an instant solution to meet cash needs for your business. Are you wondering how? The process of loan we offer is quite easy. Once the application is submitted, we allow the eligible applicants to take the cash within 24 hours. So they can fulfill their urgent needs and release their stress.
With microloans, you can never miss out on a business opportunity, or you won’t have to worry about investing in projects that are important for the growth of your business.
The microloans that bank offers have higher rates, but the bank rules and requirements are strict, i.e., higher eligibility criteria. Further, banks prefer giving loans to larger companies. Interest rates of microloans Generally, short-term loans, including microloans, have higher interest rates in comparison with long-term loans. The reason for higher interest rates is that lender requires higher returns from short-term investments.
The interest rate for microloans lies between 6-10%, and the repayment time is up to 6 months.
Step 1: Fill The Application
Fill the application form and provide all your personal and business-related information asked in the application.
Step 2: Processing Time
We review your documents thoroughly, check your eligibility and make a tentative offer accordingly and get back to you within few hours.
Step 3: Get The Cash.
Once your application is approved, you will receive an email, and funds will be transferred to your bank account.
Please apply for a microloan now; it’s time to forget all your cash flow problems.
We bring you the best suitable offers for your business at low interest rates. We understand your worries, and we are here to provide you the quality services. Avail of the micro business loan Singapore based on your documents rather than having a good credit score.
We don’t take extra charges, and we offer discount service fees for customers who repeatedly come for loans—no worry about early repayments. You can always ask us to tailor the loan amount and repayment schedule that suits you the best.
Our staff is cooperative and responsive and will guide you with what’s best for your small business. Our services are available 24/7.
So what are you waiting for? Speak with us now to get more information about our services.
If you meet the given three requirements, congratulations; you can now apply and support your business.