BUSINESS LOAN

Starting up, maintaining or expanding a business is not a simple task. It requires long term commitment of not only time and effort, but capital resources.
Sometimes a company will encounter cash flow problems when there is inadequate cash on hand or asset liquidity to cover the financial needs, especially during the most recent Covid-19 pandemic period. Therefore, Trillion Credit has decided to extend financial assistance for businesses to overcome their financial hurdle.

There are generally 3 types of loans offer to a company for business purposes:

1) SME Working Capital Loan / Business Term Loan

A working capital loan is a business term loan that is a convenient way to help your SME with its day-to-day operating expenses, cashflow, and even expansion.
As a small business or small-to-medium enterprise (SME) owner, often you are required to furnish resources to maintain your business sustainability.
SME Working Capital Loan is mainly to finance a company’s daily operations or short term operational needs. This includes costs such as payroll, rent, advertising expense and short term debt payment.

2) Bridging Loan / Business Interest Servicing Loan

Also known as interim financing, gap financing or swing loans. As the name suggests, basically this is a loan to bridge the gap during times when financing is needed urgently but not ready or available yet.
It allows the company to meet current obligation with immediate cash flow and reduce its monthly cash outflow with deferral of principal repayment.
That means you would only need to service the interest during the loan period, and make the full payment in a lump sum once you have received the sales proceeds from your asset or property transaction.

For example,
You are expecting to conclude a sale of an asset and use the proceeds to buy another asset. However, you are in need of cash to buy the new asset before receiving the proceeds to bridge the settlement periods between accounts receivable and payable; or
When you receive a contractual project but pending proceeds from end-purchasers or end-financiers, so bridging loan covers the cost of the project before obtaining long term funding.
Trillion Credit provides you with the necessary fund to make up for the shortfall until you receive the proceeds.

3) Startup Business Loan

A Startup Business Loan is basically an Unsecured Term Loan for young business founders planning to incorporate a business in Singapore or young startups that are registered and operate in Singapore.
Banks typically don’t lend to businesses with no operating history. Trillion Credit provides small businesses with loan packages tailored to suit your need.

We will advise you accordingly, depending on your company status and your individual situation.

Why Trillion Credit?

Trillion Credit offers short to long term business loans to meet with different financial situations a company encounters. As a reputable licensed moneylenders in this industry, our business loan packages provide the following unique features:
1) Fast Application Process
2) Low Interest Rate
3) Professional Advice
4) Customise and Flexible Loan Tenure
5) Quick Approval
6) High Confidentiality and Security of your Information
7) Credit Score Improvement

Eligibility:

• Be a business entity incorporated for at least 1 year, except for Startup Business Loan
• Be registered and physically present in Singapore
• At least 30% local equity held directly or indirectly by Singaporean(s) and/or Singapore PR(s), determined by the ultimate individual ownership

Requirement:

Trillion Credit requires all the director(s) / shareholder(s) to be guarantor(s) for a business loan, and they will be liable to pay the outstanding should the business fails to repay.

1) Copy of NRIC and latest 2 years NOA of all owners/directors/partners/sole proprietor/guarantor(s)

2) Last 3 months’ corporate bank statements

3) Latest ACRA business profile

4) Existing Loan Facilities (if any) – if you have existing SME financing facilities from other banks, financial institutions or licensed moneylenders, you would need to furnish the details: Name of the Lenders, Type of Facilities, Outstanding Amount and Tenure, Interest Rate, and Monthly Instalment

5) Proof of future source of fund such as business invoice and contract (if any)

To further improve your profile and increase the chances of approval, you may provide the following documents:
6) Financial reports
– Last 2 years’ audited accounts or certified financial statements; or
– Internal draft management accounts which minimally reflect the profit and loss statement and balance sheet for companies who qualified for audit exemption.

7) Last four quarters of GST Form F5 for GST registered company

8) Latest debtor’s and creditor’s ageing payment list
– Lists down the name of your clients and the amount that you are expected to receive from them for the products or services you have rendered.

9) Tenancy Agreement for the company premises (if any)

10) Brief write up on company’s information
– Including company’s business nature, key customers, management profile, working capital requirements and projected future plans

*Collateral offer lower interest rates and/or administrative fees: Assets such as real estate, business equipment or unpaid customer invoice receivables.