All About Loan In Singapore
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Start Up Business Loan Singapore For Capital Finance

The biggest hurdle to start up a business in Singapore is in seeking out the capital financial funds required to execute concrete plans for your business. This is hardly surprising as there are many crucial cash outlays required to start business operations to generate revenue. Without generating revenue, no company will be able to logically survive.

Putting into perspective, funds required to start up a business has many expenses. These will include registration fees for registering your company business, hiring a proper corporate secretary to adhere to Singapore ACRA requirements, down payment for an office space you are renting, basic renovation of the office to look more professional to your clientele, computer hardware and servers to work on, hiring support staff to help you if necessary, vehicles if they are essential for your business, and many more extra unforeseen expenses. This can easily come up to between $10,000 to $50,000 depending on your type of business and how you want to operate it.

You might have also tried looking for investors to raise capital. But too often these shrewd capitalists only want to listen to people’s ideas and scrutinize them to feel good about themselves without ever putting any investment in any company. They should be made to sign a water tight non disclosure agreement for every idea presented to them anyway.

The most common form of start up business loans in Singapore are actually loans from family members and relatives. If this avenue fails you, the next easiest form of Singapore business loans are from licensed money lenders. These lenders can give out small sized start up business loans without very strict criteria. But they do charge a higher interest than the financial institutions and banks.

If you have explored all avenues and have to get a start up business loan from a bank, here are some things you should take note. Have a good personal credit record. Prepare a business plan. Show proof of your impressive track record with management experience. Show contracts that you have already secured if you have them. Finally, you might want to apply for the loan through a government agency or one of the many business loan consulting companies that can be found online. Do practice due diligence and ensure that consulting companies you engage are legitimate experts.