BUSINESS TERM LOAN

A simple straightforward
Collateral-free loan.

A business term loan is the most common type of financing that allows businesses to obtain financing without the need of any collateral. They can be used for pretty much any business need from working capital to purchasing of new equipment.

Interest Rate:
As low as 5.5% p.a.
Subject to credit assessment
Tenor:
3 months - 5 years
Subject to credit assessment
Loan Amount:
S$5,000 - S$1 mil
Subject to credit assessment

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How does a business term loan work?

As the name suggests, a business term loan is a lump sum loan that is provided at the start and repaid over a pre-determined period of time (3 months - 5 years) with a fixed monthly instalment.

Multi-functional usage

The benefit of a business term loan is its flexibility of usage. This includes:

   • Purchasing of inventory
   • Hiring of new staff / payroll
   • Refurbishments
   • Rental downpayment
   • Purchasing of equipment

Interest Rates

Depending on your credit quality, your interest rate might differ. For most banks, interest rates fall between 5.5% to 11% p.a, while alternative lenders start at 1-3% per month. Do note that loans typically come with a processing fee of about 1-5%.

Business Term Loan
Banks
Alternative Lenders
Interest Rate (EIR)
5.5 - 12% p.a.
0.85% - 3% per month
Processing Fee
1 - 3%
3 - 7%

Repayment Calculator

It is extremely important to calculate your monthly repayment and to see if you are able to afford it.  Use our calculator to help you evaluate your options.

Eligibility

Business registration
Incorporated in Singapore (including LLP, Sole proprietorship)
Business ownership
At least 30% of the company owned by Singaporeans / PR
Credit of shareholders
No existing default records
Time in operations
At least 3 months of operating revenue

Lendingpot Found Solution

Lendingpot Found Solution

Background:
Client is in the business of sale and training of horses in Singapore with an annual turnover of approximately S$500,000 with profit of S$245,453. The loan request was S$100,000 for 1-2 years for the purpose of buying more horses. The company has an existing loan with DBS and the single shareholder has a credit score of EE with no default records.
How did Lendingpot help?
Through our 45 available lenders we managed to find a lender that was comfortable with the request.
Loan amount
Tenor
Interest Rate
Processing Fee
$145,000
12 months
1% per month flat
3%
On disbursement:
Client receives $140,650 after deducting 3% in processing fee ($4350)
Monthly repayment for next 12 months:
As calculated by our loan calculator: $12,883.07
Loan amount
Tenor
Interest Rate
Processing Fee
$145,000
12 months
1% per month
3%

How to apply

Apply for your loan through Lendingpot to be directly connected to 45 different possible lenders.
Apply on our website
Complete Verification with Loan Specialist
Case gets listed on marketplace
Lenders reach out on offers
Get funding

Why get your property loan through Lendingpot?

Why get your Business Term Loan through Lendingpot?

A team that will support you

We have a dedicated team that will walk you through your entire loan process and help you do the market research you need.

We let lenders compete for your loan

Be ready to be spoilt for choice when we help you compare the best deals across all banks and non-banks so you only get the lowest interest rate and the highest cash out amount. Our rates are same as what the banks can offer or even better.

It’s Free! Plus get Rewards!

We do this entirely without cost to you. However our lenders pay us a referral fee to let them compete and win your business. Hence, you can be assured that our advice is unbiased and true to you.  Additionally, we give rewards to our members when they get a loan as a way to share our joy.

Why get your Business Term Loan through Lendingpot?
A team that will support you
We have a dedicated team that will walk you through your entire loan process and help you do the market research you need.
We let lenders compete for your loan
Be ready to be spoilt for choice when we help you compare the best deals across all banks and non-banks so you only get the lowest interest rate and the highest cash out amount. Our rates are same as what the banks can offer or even better.
It’s Free! Plus get Rewards!
We do this entirely without cost to you. However our lenders pay us a referral fee to let them compete and win your business. Hence, you can be assured that our advice is unbiased and true to you.  Additionally, we give rewards to our members when they get a loan as a way to share our joy.

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FAQs

Are there cheaper financing to an SME business term loan?
What is the maximum amount I can take from a business term loan?
What are the required documents that I need to prepare before I apply for a SME business loan?
How long does a business loan application usually take?
What are the penalties for paying my business loan earlier?
How many guarantors are needed and how do I know if they qualify?

Quickly compare against 45 lenders. Get your business term loan through Lendingpot.

Still have doubts?
Let us help!

We’re happy to address any doubts you may still have. Let us know in the message box or simply book an appointment with us below.

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