Jurong East is one of the residential towns that you can find in the western part of Singapore. It was once a mangrove swamp before it became an industrial estate in 1961.
If you happen to be in Jurong East, definitely check out these attractions that are just within walking distance of each other: Science Centre Singapore, Snow City Singapore, Chinese Garden, Japanese Garden, and Jurong Lake Gardens.
Have a business in the area that needs immediate funding? Getting a SME business loan may be the right move for you.
What is a SME business loan?
A SME business loan is a special loan that is designed specifically for small to medium-sized enterprises (SMEs). Generally, people apply for this when they need capital to get their business started, expand their current operations, or keep their business afloat.
Advantages of taking a business loan with money lenders
- Convenient application & approval: Banks typically take up to a week to get loans approved. With licensed moneylenders, you simply have to submit your application online, and you can get approved within an hour.
- Transparent interest rates: Moneylenders tell you right off the bat that interest rates for business loans range from 5-15%. This gives you an idea of how you should plan for your repayment.
- No worries about credit history: Banks require borrowers to have a good credit score to approve a loan. If your credit history isn’t exactly good right now, moneylenders can still approve your application.
- Flexible repayment terms: Moneylenders see to it that they create flexible plans that meet your needs and repayment abilities.
How to apply?
Here are the criteria that businesses should meet to be approved for a SME business loan:
- Operational for at least 1 year
- Minimum turnover of SGD 60,000
- NRIC of all directors and partners
- Recent business profile/information report from the Accounting & Corporate Regulatory Authority (ACRA)
- Recent income tax assessment notice (personal and business)
- Recent business contracts or invoices
- Recent financial statement
- Recent utility bills under the business
- Bank statements from the last 6 months
- List of assets owned by the business, directors, and partners
- Office/shop tenancy agreement, if applicable
1. Submit your loan application: Apply for a loan by filling out the form on the moneylender’s website or by calling them to schedule an appointment.
2. Attend the consultation: Come to the moneylender’s office and discuss the specifics of your loan plan in person.
3. Receive cash upon agreement: Go over the terms and conditions of the contract. If you agree to everything that’s written there, you can receive your cash as soon as you sign it.
How can Bugis Credit help you?
Bugis Credit has been helping businesses succeed since 2007. As business owners ourselves, we are well aware that businesses go through various phases depending on their goals, and even on the economy’s current state.
Regardless of where your business currently is, Bugis Credit has the means to provide the capital you need to get back on your feet and stabilize your cash flow.
When your business needs a helping hand, a Reliable Licensed Money Lender can be the one that provides it. This is especially true if you can’t wait too long to have access to funds. Let Personal Loan Jurong East help give your business a financial boost!
Contact us at 6345 9123 or email@example.com to get your SME business loan approved in no time.
List of Licensed Money Lender Near Me
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