Singapore Loan Rates: Business Term Loan
Business term loan is a loan of money for a business to use as capital finance, cash flow management or plant and equipment financing. Business term loan is a type of term financing provided by Singapore banks, financial institutions and other commercial entities.
The requirement for a business term loan is simple. The company or business applying for the business term loan must be a registered-Singapore small and medium size company. The business applying for busines term loan must usually be in business for at least a year, with a minium turnover and substantial shareholding by a Singaporean or Singapore PR.
What are the business documents need for a business term loan application? Documents needed include a copy of the subiness directors or owner’s IC photocopy, banks statements on the business, personal income tax assessment and company financial reports.
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