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Business loans are mostly taken by entrepreneurs to start a new business. But nowadays, the situation is quite different, competition and unemployment rates are higher. Many businesses are dealing with bankruptcy and revenue loss every year. Thus, a lot of business owners and companies are getting a business loan Singapore to fulfill their funding needs on time. Business loans are considered as the best option to get funds fast in a safer way compared to other options.

If you are running a business and want to get the advantage of business loans, then it is essential to always choose a reliable money lender. Luckily, there are a plethora of money lender agencies in Singapore from where you can get loans to start a new business or to get funding to deal with the financial crisis. Before you meet a money lender for business loan, you need to consider a few things.

Below are some requirements to obtain SME business loans in Singapore:

· Businesses need to provide tenancy agreement and must be registered in Singapore

· Financial agreement

· Received income tax notice of assessment

· 3 Months company bank account statement

· Business profile with a certificate of production (ACRA)


The next step is to choose a money lender who can offer you business term loan Singapore with attractive interest rates to increase the working capital of your business. You need to make sure your money lender will provide you required funds within at least three days and has flexible terms for the repayment. Business owners should also check that money lender is licensed and provide funds without assessing credit history. Money lenders like OT Credit offer business loans to provide cash in the emergencies with tailored interest rates and flexible repayment terms.