Licensed Money Lender Personal Loan Aljunied

Nearly 4,000 businesses in Singapore closed down due to the pandemic– and the numbers are still rising. And with the heightened pandemic measures, remaining SMEs are still struggling to stay afloat.
Fortunately, there are financial support and numerous loan packages available for businesses from the government, local banks, and other financial institutions.
Here are some business loans with the most favourable terms you can tap right now:
Government-Funded Business Loans
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SME Working Capital Scheme
With a maximum loan tenure of 5 years, eligible borrowers can take a loan of up to $300,000 per borrower. Borrowers are subject to an overall borrower group limit of S$5 million.
To apply, applicants must approach participating financial institutions.
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Temporary Bridging Loan
With this scheme, you can borrow up to $3-M per borrower. Borrowers are subject to an overall borrower group limit of $20-M. The interest is capped at 5% per year.
Check out the list of financial institutions to apply to.
Bank Loans
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OCBC Business First
WIth OCBC, you can take a maximum of $100,000 loan payable within 4 years. The interest rate depends on bank assessment.
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OCBC Business Trem Loan
The maximum loan amount for a Term Loan is relatively higher than Business First, amounting to $300,000, payable up to 5 years.
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Standard Chartered Business Installment Loan
Same with OCBC Business Term Loan, you can get up to $300,000. However, the repayment period is a little shorter at 3 years. The interest rate is up to 11% per year.
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UOB SME Loan
Like OCBC Business First, UOB offers up to $100,000 maximum loan. However, you can only pay it within 3 years. The interest rate depends on the bank’s assessment.
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Maybank Business Term Loan
The highest loan amount you can get from Maybank is $500,000, with a repayment period of up to 5 years. It also has the highest loan amount among other banks.
Eligibility
Most banks in Singapore require the business to have at least one year of operational history. Plus, your company must be 30% owned locally.
Check out their respective websites for detailed eligibility and requirements.
Loans from Moneylenders
In general, licensed money lenders in Singapore can offer business loans up to $200,000 with 5-15% interest rates. The repayment period is up to 2 years, subject to the terms and conditions of the agreement.
While banks can give you higher loan amount and lower interest rates, moneylenders’ business loan is easier to qualify to due to their relaxed requirements and lenient requirements when it comes to credit score. This is your best option if your company needs an urgent financial buffer.
Eligibility
More often than not, licensed lenders require the business to be operational for at least 1 year and have a minimum $60,000 per annum turnover.
Check out one of the best licensed moneylenders near Aljunied to learn more. Get your loans from Aljunied Personal Loan today!
List of Licensed Money Lender Near Me
Licensed Money Lender Personal Loan Aljunied
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Licensed Money Lender Personal Loan Little India
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Licensed Money Lender Personal Loan Marine Parade
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Licensed Money Lender Personal Loan Redhill
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Licensed Money Lender Personal Loan Tanglin
Licensed Money Lender Personal Loan Tanjong Pagar
Licensed Money Lender Personal Loan Telok Blangah
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Licensed Money Lender Personal Loan Seletar
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Licensed Money Lender Personal Loan Yio Chu Kang
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