Introduction

Running a business in Singapore requires a steady flow of capital. Whether you need to expand your operations, manage cash flow, or cover unexpected expenses, a business loan can provide the financial support you need. At Trillion Credit, a trusted and reliable licensed moneylender in Singapore, we offer flexible business loans to help your company grow and succeed. In this guide, we’ll walk you through how to get a business loan from a licensed moneylender and the benefits of choosing a licensed loan agency.

Why Choose a Licensed Moneylender for a Business Loan?

Choosing a licensed moneylender for your business loan ensures that you are working with a reputable and regulated loan agency. Licensed moneylenders in Singapore are governed by the Moneylenders Act, which sets clear guidelines on lending practices, interest rates, and loan terms to protect borrowers.

Some key benefits of working with a licensed moneylender include:

Fast Approval: Licensed moneylenders offer quick and hassle-free loan approval, so you can access the funds you need without long waiting periods.
Transparent Loan Terms: Clear and transparent terms and conditions with no hidden fees or charges.
Flexible Loan Amounts: Choose the loan amount that suits your business needs, whether it’s for small-scale funding or larger capital injections.
Legal Protection: Your loan agreement is legally binding and regulated by the Registry of Moneylenders under the Ministry of Law, offering you peace of mind.

How to Get a Business Loan From a Licensed Moneylender in Singapore:

Determine Your Loan Requirements:

Before applying for a business loan, assess your financial needs. Determine the loan amount required, the purpose of the loan (e.g., working capital, equipment purchase, expansion), and how quickly you need the funds. This will help you choose the right loan package and terms.

Choose a Licensed Moneylender:

Ensure that the moneylender you are applying to is licensed by the Registry of Moneylenders under the Ministry of Law. You can verify the list of licensed moneylenders in Singapore on the Ministry’s official website. At Trillion Credit, we are a fully licensed moneylender, adhering to all regulatory guidelines to provide you with a safe and reliable lending experience.

Submit the Required Documents:

To process your loan application, you will need to submit certain documents, including:
Business Registration (ACRA): Proof that your business is legally registered in Singapore.
Bank Statements: Typically, 3 to 6 months of bank statements to show your business’s financial health.
Financial Statements: Profit and loss statements or balance sheets to demonstrate your business’s performance.
Identification Documents: NRIC or passport of the business owner or directors.
Loan Purpose: A brief explanation of how the loan will be used (e.g., for business expansion, purchasing inventory, etc.).
At Trillion Credit, our loan officers will guide you through the documentation process to ensure you have everything needed for a fast and smooth approval.

Loan Assessment & Approval:

Once you have submitted your application, the licensed moneylender will review your business’s financial health and repayment ability. Licensed moneylenders are required to assess whether your business can comfortably manage the loan before granting approval.
Our team at Trillion Credit ensures that all loan assessments are done quickly, often within 24 to 48 hours, so you won’t have to wait long for approval.

Review the Loan Offer:

After approval, you will receive a loan offer outlining the loan amount, interest rate, repayment schedule, and any additional fees. It’s important to review the loan offer carefully and ensure that you understand all the terms and conditions.
At Trillion Credit, we provide clear and transparent loan terms, and our team is always available to answer any questions you may have.

Sign the Loan Agreement:

Once you are satisfied with the loan offer, you will sign a legally binding loan agreement. As a licensed moneylender, we will clearly state all terms in the agreement, including the interest rate, repayment plan, and any applicable fees.

Receive Your Funds:

Upon signing the loan agreement, you will receive the funds in your designated bank account. Licensed moneylenders in Singapore disburse funds promptly, often on the same day or within 24 hours after signing the agreement.

Eligibility Criteria for a Business Loan:

To qualify for a business loan from a licensed moneylender, you generally need to meet the following criteria:

Your business must be registered in Singapore (with ACRA).
Your business must have been operational for at least 1 year.
You must demonstrate financial capability to repay the loan (through bank statements or financial reports).
The loan application must be for business purposes, such as working capital, inventory, or equipment.

Conclusion:

Getting a business loan from a licensed moneylender in Singapore is a fast and reliable way to secure financing for your business. At Trillion Credit, we are dedicated to helping business owners thrive by offering transparent, flexible, and regulated loan options. Whether you need a short-term loan for cash flow or long-term financing for expansion, we’re here to support your business journey.

Ready to grow your business? Apply for a business loan with Trillion Credit today or contact us to learn more about our loan packages.

Contact us today 65090111 or apply online https://trillioncredit.com.sg/apply-for-loan/ to get started on your financial journey!