LINE OF CREDIT

Never get caught in an emergency

With a line of credit, you can be assured that you have sufficient cash flow to withstand short term liquidity shocks. Never be caught off guard with an order surge again.

Pre-approved amount up to 3x
monthly cashflow
Approval applicable for a year
Pay interest and fees only when
you draw down
Rates as low as 1.5% per month
and 5% processing fee
Repayment tenor up to 1 year
Stretch out your repayment to a
year, no prepayment penalty.

Explore Line of Credit options from our leading lenders

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What is the difference between a Line of Credit and a Business Loan?

As the name suggest a line of credit is a facility that is made available to you within a period of time. This means that you have the option to tap on the facility as and when you may require. This is particularly useful when you are not able to ascertain a specific time and amount of funds required. The last thing you want is to sit on borrowed cash, paying interest while not making any use of the funds. A business loan on the other hand is drawndown straight after it is approved with the amount and tenor preset.
Drawdown Period
Amount
Tenor
Fees and Interest
Line of Credit
Within 1 year
Flexible within approved limits
Flexible within approved limits
Starts only when
utilised
Business Term Loan
Immediately on Acceptance
Fixed on acceptance
Fixed on acceptance
Immediately upon disbursement

When is a Line of Credit useful?

Loan disbursement is typically the same as a business term loan which is unsecured with a maximum loan amount of up to 3x of your monthly cashflow. The key difference is in the flexibility of timing in disbursement. Below are some of the most popular reasons why you should consider having a line of credit. It is also to note that a business term loan and a line of credit are not mutually exclusive, you can have a business term loan and a line of credit for additional cushion when required.
Sudden surge of orders
A cashline can provide the liquidity to help you fulfil short term spikes in order flows. The funds can help you hire new staff or purchase inventory.
Delay in payment from buyer
A delay in payment from your buyer can cause short term liquidity shocks. Having a cashline can give you additional buffer for your cashflow.
Equipment
Replacement
A sudden need for a large ticket purchase can eat into vital operating cashflow. A cashline can help provide comfort to liquidity when an emergency happens.

Tip: A business term loan and a cashline are not mutually exclusive, you can have a business term loan and a cashline for additional cushion when required.

How does it work?

Quite simply, once you draw down on your line of credit, it operates entirely like a business term loan. You will be required to pay interest and principle on a monthly basis through an equal repayment schedule. Here are some of the key terms you should take note:
Amount
Tenor
Interest Rate
Processing Fee
Up to 3x monthly cashflow
Up to 12 months
1% - 3% per month
5%
It is also important to note that while a credit line is pre-approved, there is no commitment from the lender to fully oblige to the drawdown when called upon. This means that there is a risk of the lender cancelling the line when required. Therefore, a line of credit should not be a replacement for a business term loan.

Eligibility

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

Receive up to $100 worth of vouchers when you apply for your Line of Credit with us.

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 your Line of Credit 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 your Line of Credit 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

Is there a processing fee involved in taking on a line of credit?
How fast is an application for a line of credit?
How long is my credit line approved for?
What is the key difference between a line of credit and an unsecured business loan?
What is the maximum amount you can get on a line of credit?

Quickly compare against 45 lenders. Get your your Line of Credit through Lendingpot.

Still have doubts?
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