Laying out a business plan is one of the many ways you can map out how your business will go–what industry will it belong to? Who is its target market? What are the goods or services that it will be providing? And so much more. Once you’ve carried that out, it’s down to laying out how you can get from point A to B. Does your business have the logistics to get you there? How about the resources? This is usually the first hurdle that most business startups run into. Some would resort to “bootstrapping” where one would gather up all of his finances together, be it from his credit cards, savings, or even home equity lines, for the purpose financing the startup. But if that is too risky for you, we have compiled 4 of the best loan agencies in East Singapore’s Paya Lebar to help your business get on its feet.
Note: This list is strictly not in order.
1. Orange Credit
Another loan agency in the Paya Lebar area that offers a business loan option is Orange Credit. Driven by their goal to provide a helping hand to business startups and their respective growth in the industry that they are in, the folks from Orange Credit understand the need for financial assistance. They know that starting a business comes with its own stresses, that’s why they made it a point to make every transaction with them very convenient and seamless, from your application all the way to your re-payments (which are flexible, by the way).
With their wide variety of services, transparency towards their fees, and competitively low interest rates, Orange Credit has established itself as one of Singapore’s most reliable loan agencies since its conception in 2012. Happen to have a solid and reliable business plan for your ambitious venture? If so, then you can definitely apply for a business loan with them!
Customer Reviews
Viggy Iyer
Came here to take up a loan. Met up with grace and she was very friendly and helpful. Explained all the T&C carefully. Really jovial and helpful.
Raymond Ng
A pleasant experience with this team of professional consultants. Mr. McCoy Goh was very understanding and patient to know my needs for my business expansion, and has provided sound advise on repayment scheme offered. A trust worthy credit company that is strongly recommended.
Website: https://orangecredit.com.sg/loan/business-loan/
Contact Number: +65 6748 2320
Address: 810 Geylang Rd, #01-91 City Plaza, Singapore 409286
Opening Hours: Mon-Fri 11AM-8PM | Sat 11AM-3PM | Closed on Sun
2. IFS Capital Limited
Established in 1987, IFS Capital Limited is a financial institution to make it to our list. They are affiliated with the PhillipCapital network of companies, which is an integrated Asian financial house that has established itself globally to provide solutions to various sectors–from individuals to large institutional clients. IFS Capital Limited provides commercial finance services to SME’s (small and medium-sized enterprises) for various logistic demands, such as factoring, leasings, trade finances, government-assisted schemes, to name a few. IFS Capital Limited has also established its presence, not only in Singapore, but also in Thailand, Malaysia , and Indonesia. You might wonder how their international affiliations might be beneficial to you? Well, since their facilities are available in the domestic currencies of thai baht, malaysian ringgit, and indonesian rupiah, there’s no need for you to limit against transacting with these currencies! More growth opportunities, right?
If you have plans for having international affairs with your business, going with IFS Capital Limited could possibly be the smoothest route towards it!
Customer Reviews
Collin Cheong
Innovative company that provide out of the box solution.
Jonathan Ong
5-stars
Website: https://www.ifscapital.com.sg
Contact Number: +65 6270 7711
Address: Singapore Post Centre, 10 Eunos Rd 8, #09-04, Singapore 408600
Operating Hours: Mon-Fri 8.30AM-6PM | Closed on Sat & Sun
3. Lendingpot
Lendingpot is a business-to-business service that offers financial loan assistance. But what makes them unique from the ones we have on our list is that they are the first digital business loan broker in Singapore. They links SMEs (small to medium-sized enterprises) with requests for a business loan to a variety of financial institutions… free of charge! They have a digital marketplace on business loans where both borrowers and lenders can gather. This eliminates the high rates and long approval times that you would usually encounter with traditional lenders since their platform aims to improve on the financing experience of SMEs. But beyond business loans, Lendingpot constantly finds different ways to increase the engagement of SMEs by providing them with information, different tips and strategies with regards to business loans.
If the digital approach of Lendingpot sounds like an efficient way for you to kickstart your venture, why not give them a call?
Customer Reviews
Yong Guan Jer
Great service and support. They are helping the SME for FREE by introducing a list of financial institution that is suitable for your business and cash flow needs. Highly recommend to have a chat with them.
I really like how they follow up on all the introduction and even more proactive than ourselves. Good to know there is such entity in Singapore providing consultant and support to the SME for FREE which some how even better than some government or paid service. =)
XY Linn
Really appreciate the services and help provided by Lending Pot, in particular, Eric! It is a good platform that helps to connect small businesses like ours to more institutions to explore more opportunities. Thank you for the effort!
Website: https://www.lendingpot.sg
Contact Number: +65 6303 0918
Address: Singapore Post Centre,10 Eunos Rd 8, #09-04, Singapore 408600
Opening Hours: Mon-Fri 9AM-6PM | Closed on Sat & Sun
4. Affinity Financial Services
If you’re going to be needing that business loan as soon as possible, then Affinity Financial Services might help. Their team has developed a proprietary system which enables generating the agreement & disbursement of the loan in no more than 7 days! They aim to provide opportunities & better deals for business-starters and investors, motivated by their vision of a “better financial world”. Affinity Financial Services is also committed to efficiency, getting borrowers approved in less than 48 hours after the completion of all necessary documents. The maximum amount you can loan from Affinity Financial Services for your business is up to $250,000, just as long as you are registered and operating within Singapore, have at least 30% local shareholding, and if you are a legal citizen of Singapore.
Don’t have Corpass & Singpass? Never fear, Affinity Financial Services has an online form on their website for you if you wish to apply!
Customer Reviews
Wendy Koh
I got my business loan approved in 48hrs! Now I can expand my cafe!
Jasline Koh
AFS is a reliable, profitable with high returns and truly trusted Financial Services Company. I would like to especially thanks to Cathy and Joe for sharing their expect insights and help me understand what is the stock market and how does it works. Yes, i make a right investment with AFS and i am very happy with their professional service and definitely will recommend my friends and family working with them.
Website: http://www.afs.fund
Contact Number: +65 6909 9108
Address: 60, #06-47 Paya Lebar Rd, Paya Lebar Square, 409051
Opening Hours: Mon-Fri 9AM-5PM | Closed on Sat-Sun
5. Minterest Money
If it sounds unfamiliar, Minterest Money is actually yesteryear’s QianNow. This loan agency uses their own algorithm on credit scoring to provide you with a financing cost, and they can lend you finances of up to 6 times of your monthly income! You might think that they might charge you with high interests, but you’ll be glad to know that Minterest Money agrees with your concern–you should not be overpaying for your loans. This is the motivation behind their unconventional but efficient approach to assess and provide you with the lowest rates possible; they don’t follow the standardized interest rates that most loan agencies adhere to. But instead, they determine your interest based on your education or working experience! And if you want to get an even lower interest rate, having a security and a guarantor (which by they way is not required) can definitely make it possible!
Minterest Money‘s views and approach towards financial interest definitely makes them a worthy starter for this list.
Customer Reviews
Biswanath Nanda
Suzy was very friendly and patient, the process was seamless and the amount was disbursed the same day after signing the documents.
John Lum
The loan officer was professional and friendly, good value as well interest rates are lower than normal moneylenders.
Website: https://www.minterestmoney.com
Contact Number: +65 6387 8623
Address: Paya Lebar Square, 60 Paya Lebar Road, #07-32, Singapore 409051
Opening Hours: Mon-Fri 8.30AM-8PM | Sat 8.30AM-1PM | Closed on Sun
Conclusion
There are a lot of things to consider when you want to start your business, but you can’t set one up in the market without the necessary fundings. If you happen to be running short of cash from your bank account to even see the fruition of your dream venture, you can count on the different agencies and institutions that we have listed here to help you out!
