Raising more funds for your company or planning to make a business expansion? Looking around to find a financial institution in Singapore that can grant SME business loans of $500,000 funds in 2 hours (and up to 1 million)?
MPM Capital is here to help you and your business.
We have only basic business requirements that is prior to handing out business loans to you. Our only criteria is that we look at how much revenue your business is making on a yearly basis, and also how long you have been running your business. Compared to local banks and many other financial institutions in Singapore which have long, tedious loan approval process that can take up to months, we offer fast and flexible business loans to our valued clients.
We understand that securing funds for a small or medium-sized business in Singapore is not easy. Our highly competitive economy largely favors established businesses over smaller SMEs, making the whole process of securing funding almost impossible. To make matters worse, the journey for businesses in Singapore have not been made rosy by the endless economic slowdown and global uncertainties. It can be quite difficult to secure a sum for opportunities or to resolve problems.
That is why at MPM Capital, we wish to change this paradigm. We know businesses, especially SMEs in Singapore, are worth the investment since they are the backbone of every nation. Most notably, we believe in the individuals managing these ventures, that they have what it takes to be successful and that all they require is someone to have faith in them and help them develop.
While many banks are hesitant to offer small business loans in Singapore, mostly because of the risks associated with them, we are willing to provide funding with minimal hassle. We offer affordable business loans in Singapore. We are supportive of SMEs and you can pay off our business term loan over short/long term, whichever is the best option for you.
The Loan Process
We have been offering business loans in Singapore for many years and we know most SMEs do not make the grade for traditional bank loans. Our main objective is to help them survive the tough economic environment regardless of the banks’ viewpoint. We have streamlined and simplified our loan process and businesses are always guaranteed of funding as long as they have the few required documents with them. No matter the situation, we want the best for our clients.
Rather than going through the long application process for banks which might not even be fruitful at the end, contact us and we are always here to help. To qualify for our business loan in Singapore, simply complete the simple online application and email/fax the following details to us:
- NRIC copies of the owners or business directors
- Bank statement of the business for the last 6 months
- Most recent ACRA printout
- Tenancy proof for the business premises
- Income tax statements
- Proof of assets/Title deeds
- P&L statement
Upon verification, your business loan request will be accepted and we will contact you immediately so as to not delay the processing to you. We target to serve you at the quickest time possible.
Best Time To Take A Singapore Business Loan in 2018
If you are hesitant about taking a loan in Singapore or unsure if business loans are necessary, let us evaluate for you. Our assessment is based on our years of experience and feedback from the SMEs that we have helped.
A Business Loan Can Help You When You Are Expanding Your Business
If your venture is doing well, you may opt to expand by branching out or by opening new outlets. It could be new outlets at different locations or a bigger store to reach a wider audience or to gain larger market share. Unless you have been saving money for this very purpose, you should consider taking a business loan. Expanding your business in Singapore is great but it should not disrupt your company’s finances too much. With a business loan, the funds can help you purchase or rent a commercial space, employ new employees, or buy new stock. Business loans will allow you to secure more funds, meaning that your expansion plans will not meddle with the existing branch’s operations or profits.
A Business Loan Can Help You Achieve Marketing Success
One of the common reasons companies in Singapore fail is because they neglected marketing. They focused more on other aspects and did not deem marketing as a priority. However, one must understand that marketing is more than just doing sales.
In today’s world, especially in tech-savvy Singapore, marketing is actually one of the most important cores in the company, touching on a business’s direction, branding, product and business strategies. Sometimes, a good marketing campaign will require a huge budget. From researching to planning to executing, it is not wise to cut down too much on marketing costs which will affect the business in the long run. Therefore, consider applying for a Singapore business loan to help you boost your marketing strategies. With a good source of funding, you will have the resources to generate a strong marketing campaign that can help you achieve excellent results which will subsequently translate into larger profits.
A Business Loan Can Help Your Business Get Advanced Equipment And Technology
For any business wishing to keep up with competition in Singapore, there is a need to have the necessary equipment and be up-to-date with the current technology. It is important not to fall behind your competitors and have enough resources for your research and logistics. A small business loan can help you purchase the latest equipment and thus improve your product and service executions.
Accessing Your Business Needs
In order to make the most out of your Singapore business loan, it is essential to carefully evaluate your past, present and future state. As a matter of fact, this will give you an opportunity to find out exactly how much you require to expand your venture. Remember not to borrow in excess as this will present you an extra repayment burden, which is completely pointless.
Why Choose MPM Capital For Your Small Business Loans
While there are many Singapore business loan providers, our loan products stand out. We truly care for our clients and only want the best for them. The following are some good reasons why you should choose us to get your business loan in Singapore:
Easy Application And Processing
After you have provided all the required details, our team will contact you and schedule a meeting to complete the application process. Once you have checked through and signed the loan agreement, the funds will be reimbursed to you on the spot. It’s that simple!
Flexible Loan Products
We understand every business is unique. Our team will discuss the options available so as to offer a personalized Singapore business loan which suits your needs.
Flexible Payment Schedule
We have designed our loan products in a way that makes it easier for businesses to pay back. Our Singapore business loan interest rates are way lower compared to the ones offered by typical lending institutions, with reasonable repayment schedules.
No long waiting hours or processing time for business loans. We understand the importance of time and that good opportunities don’t come by often. We offer fast disbursement services as long as you have met our few simple criteria and we would never want to keep you waiting.
Excellent Customer Service
Our knowledgeable and friendly team is always ready to respond to any issues concerning the loan application process or terms of agreement.
Banks Say No, We Say Yes!
Many banks in Singapore may be hesitant just to even have a sit down with you. Do not worry. At MPM Capital, we recognize the bittersweet journey of Singaporean entrepreneurs and that is why we are always ready to support their businesses with alternative financing.
Simply contact us for business loans and we will be glad to schedule an appointment where we can talk about your needs and your possibility of getting a loan.
What are the SME Business Loan Requirements and Criteria for MPM Capital?
We encourage both responsible borrowing and responsible lending and would not want to put you in a position where you were overextended and could not make your loan payments without straining. Our simple requirements are as follows:
- Yearly minimum revenue of not less than $5,000.
- The business should be incorporated and operational for not less than 6 months.
If you meet this criteria, simply get in touch with us and we will be happy to speak to you about the money you need.
Our SME business loans can be used for the following reasons among others:
1. Expanding Business Location
If you have outgrown the location you are currently operating from and need to find a bigger space, speak to us about taking out a loan to help with the costs that accompany that move. A bigger space can be in the form of finding an additional location or it could mean moving your premises altogether. In Singapore, you will need to consider the high upfront costs and also the change in overhead costs at the bigger facility. Remember that expanding your business location may help you reach a wider target audience or provide better services and increase your profits.
2. Equipment Purchase
If you need additional equipment to help you improve service delivery such as IT equipment, machinery and the like, you may need a loan to finance that. It is important to ensure that you get the equipment that you need, not just equipment that would be nice to have.
3. Purchase Inventory
In Singapore, most businesses find inventory purchases to be among their biggest expenses. Every small and medium sized business needs to ensure that they keep up with customer demands by ensuring that inventory is replenished in a timely fashion. To be successful, you will need top quality options in plenty. When you need to purchase inventory in large amounts (be it for expansion or to enjoy the benefits of economies of scale), we can offer you the cash to do so.
4. Take Advantage Of A Great Opportunity
Sometimes an opportunity presents itself and it may be too good to ignore. Whatever the opportunity may be, you will need to weigh its potential versus the potential of debt. Look at the return on investment by comparing the loan cost to the revenue you can generate from the deal. If the opportunity outweighs the debt, then you should definitely take out a loan to ensure that you take advantage of the opportunity.
When starting your business in the first year, chances are that you need to be carrying out a variety of roles to keep the company spending to the minimum. However, as the business continues to grow, you need to start finding other people to help you. It may be time to hire a bookkeeper, marketer, fundraiser and customer support. At this period, you may need to take out a SME business loan to hire specific talents to help increase your revenue. The rule of thumb is that if hiring this talent will increase how much you are making, then taking out a loan for recruitment purposes may pay off.
Of course, you can always speak to us if what you need the money for differs from the above. We are flexible and are always ready to hear from you and walk you through the loan process.
What Should You Look Out For In A Loan? Here Are The 6 Points To Consider When Assessing A Company Business Loan
SME business loans are offered by more than twenty financial institutions and banks in Singapore. Rather than just impulsively jumping onto the institute that provides the lowest interest rates, you should look at the various offerings and settle on the best. There may be a catch. Here’s variety of things to consider when getting business loans in Singapore:
1. Credit Criteria
Some institutions are a lot stricter than others. The traditional banks in Singapore for example, have stringent guidelines that makes it very difficult for an SME to get funding without first meeting all their requirements. Other funding institutions like MPM Capital have easier credit criteria, meaning that chances of getting funding are higher.
Also, financial institutions in Singapore will definitely look at your credit score. Credit scores measures how likely you are to repay your debt and is affected by your previous or current debts and loans. If you have a poor credit score or poor repayment records, it is unlikely that banks will want to provide a loan or to even have a meeting with you. Here at MPM Capital, we are more than willing to have a chat with you, listen to your views and ideas and construct the best business loan plan just for you.
2. Interest Rates
Interest rates tend to be different in the various institutions in Singapore. This is important because it lets you know how much you will be paying above and beyond the principle amount. Find out what percentage the institutions in Singapore are charging and also look to see whether the interest rate is fixed or flexible.
3. Monthly Payments
If you have a fixed interest loan, then you will know exactly how much money you will be paying from month to month. This allows time for planning, which is great. If the rate is flexible, then you can expect that monthly figure to vary from month to month as the interest rate fluctuates. The business should be able to comfortably handle its monthly financial obligations and pay the loan without too much strain.
4. Loan Term
It is important to see how long it will take you to pay off the loan. Of course, it is better if the term is shorter because even though the monthly amount you pay will be higher, overall, you will pay less in interest. On the other hand, a longer term will give you respite in monthly payments, but you will pay more in interest.
5. The Total Amount
Always look at the bottom line to see how much you will owe when all is said and done. This figure usually includes the principle amount, the total you will pay in interest and the fees charged to process the loan. The loan that offers you the least amount owed is ideal provided that you can afford to make the monthly payments with ease.
6. Terms and Conditions
Be sure to read the fine print. In this section, you will be able to tell if there are any penalties for late repayments of the business loans. You will also be able to detect any hidden fees that may be covertly placed in the contract.
Carrying out a comparison of the terms of every financial institution that offers businesses loans in Singapore can be time consuming and frustrating. That is why we offer you a solution that allows you to quickly and easily assess SME loans in one minute!
By using our free loan assessment tool online, you are able to compare the various business loans that your business is able to qualify for. This will help you save time and it will make sure that you get the very best business loan offers that you are eligible for.
If you feel that your business growth is hampered by lack of capital, you can secure the future of your business by accessing the funds that you need to grow and expand the business. Feel free to try our business loan assessment tool now to immediately see the most suitable SME business loans in Singapore available to you.
Have you decided? Click here to apply for your desired business loan through our online form now, and we will get back to you within 2 hours time.