Business owners often think "Jitbai Jialat" that if they can’t get a business loan from their bank, they’re either too young and have to suffer for the next few years. But that’s not the case. SME in need of financing have so many options now as compared to before. Singapore is flushed with lenders who have deep pockets. However, the different lenders have different requirements, tenor, rates, and terms and criteria. Each is designed for a different business need, and you have to which type is more beneficial.
Here’s a quick summary of the types of business loans available to SMEs, explained in detailed at other posts:
- Short term working capital
- Unsecured business term loan
- Invoice financing
- Factoring
- Equipment Financing
- Business Startup Financing
- Microloans
- Merchant Cash
- Cash Advances
- Secured with Property
- Trade financing
- Personal financing