Thomson is a popular spot for nature-lovers since it is in close proximity to Singapore’s largest water catchment area. It is a narrow area stretching from Novena in the Central Region of Singapore up north to Sembawang. Dotted with several local restaurants and hip cafes, you will always find exciting things to do in Thomson like an afternoon hike along MacRitchie Trails, or be bold on the TreeTopWalk suspended bridge for a great view and a thrilling experience.

Summary of Top Legal Money Lenders of 2022

Thomson has easy access to the Central Area which houses popular schools and parks. This part of Singapore is favored by expatriates and locals alike due to its unique vibe.

What Is SME Business Loan and How Does it Work?

A small to medium-sized (SME) business loan is a type of loan that aims to fund small and medium-sized businesses, whether they are looking to expand the business, acquiring additional equipment, or in need of extra operational funds.

A SME business loan is similar to a personal loan. The borrower is given a fixed lump sum that must be paid together with a reasonable interest rate in a flexible term.

Advantages of Taking SME Business Loan With a Moneylender

Traditionally, most people go to banks to get funding. However, today, licensed moneylenders are rising as trustworthy sources of loans. The following are the advantages when you consider loaning with a moneylender:

  1. Low credit is not a bar to your application
    Unlike banks, moneylenders do not deny loan applications based on low credit scores. For them, they just want to look at the company’s current ability to repay the loan amount. If your credit score is low, consider getting a loan from a moneylender.
  2. Quick loan approval
    Moneylenders require fewer documents for loan approval. Thus, the approval of a loan may be done within hours. If you need immediate financing solutions, licensed moneylenders are the way to go.
  3. Customised loan packages and repayment plans
    Unlike uniform bank requirements, packages and repayment plans, moneylenders are more lenient and concerned with your personal experiences. Thus, they are more flexible to adjust the loan terms depending on your capacity to repay.

How to Apply?

To be eligible in a SME business loan, here are the qualifications: your business (1) is registered in Singapore, (2) has been operational for at least one year, and (3) has a minimum turnover of $60,000 per year.

You need to prove eligibility by providing your moneylender with the following documents:

  • 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)

How Can Our Company Help You? Why Us?

At Moneylender Review, we aim to bridge the gap between moneylenders and borrowers. We have an updated directory of the best licensed money lenders Singapore. We can also provide personalised loan quotes from multiple licensed moneylenders all at once!

We understand that getting a loan may be difficult for you. Thus, we only give relevant information that you need to know. We also provide for the review of services of different moneylenders.

Lastly, we want you to have a convenient and hassle-free experience in getting your best business loan. Thus, your inquiry may only take three steps!

  1. Submit a loan request using our online form.
  2. Receive up to three loan quotes from the best licensed moneylenders near Thomson.
  3. Visit the licensed moneylender office to sign the papers and secure your loan!

Moneylender Review partners only with the best licensed moneylenders. We have helped several SME businesses in Singapore in finding the right financial solution for their business needs, with ease and confidence.

List of Money Lenders in Thomson