Frequently Asked Questions


I am a small business owner

Before Application

+ What kind of companies can apply for a business loan?

Currently, we only accept applications from Singapore-registered companies.

This is because financial institutions in Singapore generally do not provide small business financing to foreign-registered companies.

+ What kind of loan can i apply for?

Lendingpot encourages you to request for a specific amount of money rather than specify a loan type.

We believe that there are many ways for small business owners to obtain business financing in Singapore.

After presenting your case and requirements, Lendingpot will encourage our partner RMs to offer their best product to suit your business needs.

+ What kind of loan offers will i receive?

This depends on the purpose of your loan as stated in your business financing application.

We encourage you to be upfront about the purpose of your loan so our partner RMs may offer you the most suitable package in accordance to your needs and requirements.

+ Will i get personal loan offers?

This is possible.

All proposed business loans solutions are crowdsourced from participating RMs.

We aim to solve your business financing need, so if a personal loan taken by a director can more effectively address your business problem, this can be one of the proposed solutions.

After application

+ What are the costs associated with applying for a business loan

Each financial institution sets their own fees. Some are negotiable while others are not. We recommend asking your chosen banking provider about all costs involved.

As a platform, Lendingpot does not charge you for services rendered. This service is free.

+ I applied and nobody has contacted me so far. What should i do?

To ensure that Lendingpot provides good value for both the SME and our partners, we verify each application thoroughly before sending it out to be assessed by our team of partner RMs.

However, we are currently working with a very lean team, and we often experience a high volume of requests. We will call you shortly to run through the contents of your application.

If you have any questions, please call us at 8774 9895 or chat with us via the Messenger app on our website during office hours. Thank you for your patience.

+ I've received several loan offers, but i don't know which one to choose. What should i do?

We recommend that you run through each and every loan offer in detail to weigh its pros and cons.

You can refer to our loans guide for details.

We would also encourage you to clarify any questions directly with the banker.

Once you have decided, you are free to liaise directly with the banker without going through Lendingpot again.

+ I've got multiple offers, can i take up more than one loan?

Lendingpot does not encourage this.

Each lender makes an offer on the assumption that you’ll be taking up only one loan. Taking up more than one loan at the same time will affect your financials, credit rating and your ability to make repayments.

+ My lender cannot deliver on the promised loan amount/interest rate/term. What should i do?

If the lender is unable to deliver, feel free to work with other lenders to reach a decision that will benefit your company.

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I am a relationship manager

+ How do i view all active loan requests?

You can no longer view all loan request since we have removed the marketplace function on Lendingpot. However, this function is expected to be recreated in the near future.

+ I need more information about the company before i can proceed. What should i do?

You can either ask the client directly, or WhatsApp us at +65 8774 9895 during office hours to request for more information. We will forward your questions to the SME and update you when we have received their answers.

+ I would like to offer a loan package to the SME. How do i proceed?

Contact to connect and set up your account.

Further information will be provided upon connection.

+ What if the SME does not respond to my quotation?

If they did not respond to your quotation, you may follow up with them via SMS/WhatsApp, email or call. All contact details have been verified by LendingPot.


I am concerned about my privacy

+ Why do you need my company documents?

In order to be fair and do our part as a platform, we need to ensure that all information presented on Lendingpot is accurate.

This also allows the lenders to provide you with an accurate & realistic quotation.

We will never reveal your company documents unless you approve us doing so.

+ Are my business and contact details available for everyone to view


However, your personal information (i.e. name and contact details) will only be made available to our partners who have indicated that they are able to provide you with a loan package.

Your confidential information will not be used for anything other than the purposes of this business loan.

+ Can i restrict my busines information to selected lenders?

Yes, although we encourage business owners to allow all lenders to view your information in an attempt to get the best loan offer available.


I have more questions about Lendingpot

+ What does Lendingpot do?

We’re an online business loan marketplace, matching SMEs’ business loan application to multiple business loan lenders such as financial institutions, banks or fintechs.

+ How is Lendingpot different from peer-to-peer fintechs, financial insitutions and banks?

Lendingpot is not a direct lender. We are an intermediary that links borrowers and lenders and we do not handle or facilitate any fund transaction between a lender and you.

+ Who does Lendingpot partner with?

We work with a number of relationship managers from banks, financial institutions, peer-to-peer lenders & private lenders who provide legitimate and reasonable business loans to SMEs.

+ How does Lendingpot make money?

Our core service, the business loan marketplace, is currently completely free. We do not charge SMEs or our partners any fees.

This is to ensure that we provide real and tangible value to the small business community in Singapore.

We plan to monetize this platform in the future by through advertising & other value-added services.