Inspired by the bay’s cooking pot shape, Telok Blangah literally means “cooking pot bay”. In Malay, telok means “bay” and blanga refers to a clay cooking pot usually used by the Southern Indians.
Telok Blangah is a beautiful neighbourhood. In fact, a few residents have gone on to start small businesses in the area and continue to run them despite challenges. Are you one of the SMEs in the district?
The current situation may have affected your operations. If you need extra cash to keep your business afloat, a licensed money lender in Telok Blangah can help.
What Is SME Business Loan And How It Works?
SME business loans help small and medium enterprises, as well as startups, gain access to financing at competitive loan interest rates. With a business loan, a business can inject capital into its operation.
Here are a few features of a SME business loan with a licensed moneylender:
Minimum Income | No minimum income required |
Maximum Loan Amount | Up to S$200,000 |
Interest Rate | 5-15% |
Loan Tenure | 6-24 months, subject to the terms and conditions of the loan |
Fees | No processing fees |
Eligibility | The business must be registered in Singapore Has been operating for at least a year Has a minimum turnover of at least S$60,000 |
Advantages Of Taking SME Business Loan With a Money Lender
- Easier to Qualify Than Traditional Bank Business Loans: Moneylenders have more attainable eligibility criteria than most banks. For instance, your business only needs to be operating for at least a year to qualify. This means even startups can apply.
- Hassle-Free Application: You can apply online or visit the licensed money lender’s office. Additionally, licensed moneylenders only require basic documentation and have a less stringent verification process.
- Get Cash Within The Day: A SME business loan with a licensed moneylender is a good alternative when you need emergency funds.
- Custom-Tailored Loan Package: A licensed moneylender can offer flexible repayment terms. You can find a loan package that will suit your specific needs.
How To Apply?
Before visiting a moneylender’s website, verify their credibility first. You can do so by going to the Ministry of Law Singapore’s website. There you can find a complete list of licensed moneylenders in Singapore.
Step 1: Call or Apply Online
Once you’ve verified their credibility, you can then apply via the licensed moneylender’s website. Make sure to submit a filled-up application form and provide a copy of all the basic documents.
Step 2: Visit The Moneylender’s Office
Licensed moneylenders are obligated to provide in-person consultation. During this consultation, the loan officer will provide a thorough explanation of the terms and conditions of the loan. Make sure that you understand all details and ask questions for clarification.
Step 3: Receive Your Cash On The Same Day
Once you’ve agreed to the terms, you need to sign the loan contract. You will then receive your cash loan without any hassle.
How Can Fortune Credit Help You?
Established in 2010, Fortune Credit has been in the money lending business for more than a decade. They are recognized as one of the top 10 licensed moneylenders in Singapore.
Over the years, they have helped individuals and businesses get through financial difficulties by providing custom-tailored loan packages. Its mission is to provide hassle-free and lightning-fast financial assistance to its customers.
Conclusion
Need extra funds to keep your business afloat? Fortune Credit is a licensed money lender in Singapore that offers a full suite of loan options. Let Licensed Money Lender Telok Blangah help give your business a financial boost!
We offer the best low interest on SME business loans, personal loans, payday loans, and more.
Get a FREE Loan quote today! Contact us at 6777 1887 or enquiry@fortunecredit.com.sg for a fast and hassle-free application.
