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Build Your Dream Business with the Help of Equity

Having passion and skills are not enough if you are looking to start a business. The important aspect of it all is money. If you don’t have the money to build a business, then all of your skills and passion are for nothing. And so, before making plans for your future business, you should look for ways to make those plans and dreams a reality first. Kickstart your dream business with a Business Loan from Equity. With their help, you can successfully put up a business under your name, with all of your plans into action!

Yes, some people taking a loan are not worth it, especially if you’re unsure if your business will grow. But in reality, taking a loan out for your business means you believe in it. Plus, you could easily pay it off once it starts booming. It will be slow at first, but it will eventually begin to rise once you have a stable workflow.

The Many Kinds of Business Loan Equity Offers

Equity offers different kinds of business loans, which will help you start your business. Getting a loan from Equity will enrich your business even further. There are currently four types of Business Loans in Singapore. But first, you have to make sure that your business or company is incorporated in Singapore for a minimum of two years, has at least 30% Singaporean of PR shareholding, and with an annual group sales of up to S$100 million or a group employment size of not more than 200.

Business Loans in Singapore

Once you have checked that your business is eligible, you can start browsing as to what kind of business loan you will need. There are SME Working Capital Loans, Temporary Bridging Loan, Business Term Loans, and Micro Loans. Each has its own terms, which you will need to follow.

The SME Working Capital Loan is a government-supported initiative for SME businesses. All qualified SMEs can obtain up to S$1,000,000 compared to the previous, which was only S$300,000. A Temporary Bridging Loan is financed by Singapore Government and administered by Enterprise Singapore for SMEs and Businesses in Singapore. If your company has been registered in Singapore and has a PR Shareholding, you are eligible for this loan. Both the SME Working Capital and Temporary Bridging Loan can be stretched up to 5 years.

Business Term Loan is offered directly by the Banks in Singapore. It is separate from Government initiatives such as the Working Capital Loan and Temporary Bridging Loan. Most businesses use this for expansion, cash flow, payment for goods, and purchase of goods from suppliers. Lastly, Micro Loans is a financing scheme shared between the Singapore Government and the respective issuing bank.

Take a Loan for Your Business Needs

Every business needs a working capital that can help you with your everyday operation. There will be times when you encounter problems in your cash flow, which can hinder your business from operating properly. Prevent these problems from happening by getting a safe business loan that can help your business work seamlessly and smoothly.