Punggol is a scenic waterfront town perfect for outdoor lovers. The Punggol Waterway Park stretches far and long where locals walk, cycle, and relax. You can also hike in Coney Park, ride horses in Punggol Ranch, or attempt a food crawl among the seafood restaurants in the area.

Summary of Top Legal Money Lenders of 2022

If you’re a business owner in Punggol needing financial help, consider a moneylender!

What Is SME Business Loan and How it Works?

SME business loans are loans targeted to finance small and medium-sized enterprises, which make up at least 99% of the businesses in Singapore. Business owners usually take out these loans to expand the business, increase working capital, purchase inventory, and much more.

You can borrow up to $200,000 from licensed moneylenders in Singapore, which charge interest rates ranging from 5 to 15%. The repayment term is usually 24 months, but it can vary based on the terms and conditions you negotiated.

Advantages of Taking SME Business Loan With a Moneylender?

Although the government and banks offer SME business loans, there are advantages to obtaining these loans from licensed moneylenders for the following reasons:

  • No High Credit Score Required
    A low credit score can be unappealing to banks and finance companies. However, moneylenders are much more concerned with your current ability to repay the loan.
  • Fast Transactions
    It can take days for a bank to approve and release your loan. But if you need a loan for an immediate business need, getting a business loan from a licensed moneylender can immensely help. You can receive your loan within an hour after submitting your loan application and relevant requirements.
  • Customized Loan Packages
    To suit your company’s unique requirements, moneylenders can recalibrate their loan packages and repayment plans to help you repay your loan in the best possible way.

How to Apply?

To begin taking out a business loan, you have to fill in the loan application form of your chosen moneylender or a loan comparison service, which can give you multiple loan quotes at once.

You have to be at least 18 years old to apply for this loan. Moreover, your business must be operating for at least a year and has a minimum turnover of $60,000 annually.

Most moneylenders require the following documents as well:

  • All directors and partners’ NRIC
  • Recent information report (Business Profile) from the Accounting & Corporate Regulatory Authority (ACRA)
  • Recent Income tax assessment notice (both personal & from the company)
  • Recent financial statement
  • Recent invoices or business contracts
  • Recent utility bills under the company name
  • Recent six-month bank statements
  • List of assets owned by the company, directors & partners (if any)
  • Office/shop tenancy agreement (if any)

Finally, visit your chosen moneylender’s office to sign your papers and receive your money!

How Can Our Company Help You?

If you’ve decided that an SME business loan from a licensed moneylender in Singapore is the best financing option for your company, then Moneylender Review can help you find the perfect loan for you.

Moneylender Review has the best algorithm that gives you the three best quotes (free of charge) from top licensed money lender in Singapore. Fill out this online form to get your personalised business loan recommendations now!

List of Money Lenders in Punggol

No licensed money lenders found in the area