You have worked pretty hard for your business startup, but somehow, financially you are not quite supported. You have asked your friends and families for monetary help, but they have limited resources of their own to support your cause. So, the only way to get things straight is by asking lenders to help you with small business loans, which will help your business to stand out. These companies have been presenting loans for a long time to some new ideas, and those ideas have turned into reality, thanks to their unending support. Now it is time to get your share of support from them.
Understanding about SME micro loan and working capital loan:
SME micro loan and working capital loans are expanding of Enterprise Singapore initiatives. These options will help the smaller businesses to gain unsecured working capital financing, right under the LEFS. Right from the business loan singapore under SME Micro loan to the working ones, local enterprises have the chance to get a total sum of around $400,000 loan. But for that, they need to follow the required criteria. The company should get registered and operate in Singapore with a 30% local shareholding, minimum. The group annual sales need to be equal or more than S$100 or the group employment size has to be equal or more than 200.
Learn about the monthly installments:
To help you with your planning, the reputed teams offering sme loan can offer you with loan repayment schedule for the working capital requirements. For example, for a loan amount of S$100,000, the indicative interest rate will be 8.5%. The tenure is up to 5 years and the estimated repayment on a monthly scale will be S$2,052. Now, depending on the high end loan amount, the monthly payment will increase accordingly for your needs now.