Yes, you can.

Please let us know about your preferences either via email (ask@lendingpot.sg) or when we contact you after you have submitted your online application.

These lenders will not be able to access any of your contact details or documents.

We take your privacy very seriously.

Firstly, your contact details (company name, director’s name and number) will only be shared with relationship managers who are interested in financing your business loan request.

You will also be notified daily, via email, about the financial institutions that have obtained your documents and other details.

Please check out our Privacy Policy & Terms and Conditions for Platform Services for more details.

Yes, they can.

We welcome your participation as we believe that family offices are an under-tapped source of financing for SMEs.

Once you have subscribed to our network, you will be able to access business loan requests via our Business Loan Marketplace.

Please drop us an email at ask@lendingpot.sg or WhatsApp us at +65 8806 5245 for further discussions.

Yes, they can.

However, depending on your objectives, we may have different on-boarding processes.

Please contact us directly via WhatsApp at +65 8806 5245 or email us at ask@lendingpot.sg for further discussions.

Yes, they can.

Do drop us an email at ask@lendingpot.sg or WhatsApp us at +65 8806 5245.

Our team will contact you as soon as possible to discuss the synergies of collaboration.

Yes, you can.

However, it may be harder to secure your desired financing amount.

Many financial institutions in Singapore prefer to lend to companies that have been operating for at least 12 months so they may evaluate the company’s financial track records.

However, having said that, we do have a few lenders who specialize in providing small and short unsecured term loans for new companies.

Alternatively, business financing can also be easily obtained if you are able to pledge collaterals such as properties.

Unfortunately, no.

Currently, Lendingpot’s Business Loan Marketplace only operates in Singapore and we only work with financial institutions with local operations.

Most of these financial institutions are only able to support SMEs that are incorporated locally.

However, we have plans to expand into other countries in the near future.

Yes, you can.

This is because we have financial institutions in our network that look beyond the traditional credit criteria and prioritize other metrics such as cash flow or existing business contracts.

Relationship managers are also encouraged to examine your loan request and suggest/structure the best way to provide the financing you need.

Lendingpot works with over 90 relationship managers from over 45 financial institutions such as banks, non-bank financial institutions, peer-to-peer lenders, private lenders and family offices in Singapore.You may find out more here.

Yes, if you have available collaterals, you can consider taking a secured loan using publicly traded shares. You can also cash out your property with a property-backed loan which commands interest of less than 3% p.a. Alternatively, if you can also sell your invoices through invoice financing whose interest is also lower at 3-4%.

• The Temporary Bridging Loan is an ESG initiative to help small local businesses with an unsecured working capital loan of up to SGD 1 million. This was announced during the Solidarity Budget in 2020 and has been extended until 30 September 2022. Under its current iteration, the Singapore government undertakes a 70% risk share of the loan; borrowers are still responsible for repaying 100% of the loan amount.

• The SME Working Capital Loan, offered under ESG's Enterprise Financing Scheme, provides an unsecured loan of up to SGD 300,000. The default risk share is at 50%, while younger companies (incorporated within the last 5 years) enjoy a higher risk share of 70%.

• Most Bank’s unsecured working capital loan offer financing to SMEs of up to S$350,000.

• As for non-banks, unsecured business term loans are usually capped at S$200,000 although there are outliers that can go up to S$1,000.000.

Document required are quite standard across most banks and lenders. They include:

• Past 6 months bank statements

• Financial Statements for the past 2 years (Management Accounts are acceptable)

• CBS report for the guarantor(s) (At least one)

• Personal Notice of assessment for the 2 latest years for the guarantor(s) (At least one)

• Money Lender Credit Bureau Report (Optional)

Non-bank lenders can take a much shorter time as fast as 1-2 days but typically a loan application takes at least 1-2 weeks. As for banks, these can take up to 1 month as the time for assessment is longer.

Most banks have a early repayment penalty applicable of about 2-5%. Some non-bank lenders allow for an early repayment without fee and some have a minimum loan period of 6 months and is without fee after.

Typically at least one personal guarantor is required. The guarantor needs to be qualified such that they:

• Have at least an annual income of more than S$24,000

• Is a Singaporean or PR

• Has no default or bankruptcy records outstanding

Different banks might arrive at substantially different valuation estimations, implying that some of the process is based on guessing rather than established appraisal rules. It's most likely from the Singapore Institute of Surveyors and Valuers (SISV) for private homes. If the property is owned by HDB, you can acquire a valuation report from their own panel of valuers, who are all IRAS-licensed professionals.

• Legal and appraisal expenses may be subsidized depending on the bank with whom you take out a commercial property loan. It's also worth noting that most commercial property loans cost a little more than equivalent residential property loans.

• When you take out a commercial property loan, you're usually locked in for two to three years. If you opt to pay in advance or sell the property before the deadline, you will almost certainly be charged a penalty cost of roughly 1.5 percent.

• You can choose between a fixed and a flexible package when getting a business property loan. You'll be locked in for around 2 to 3 years with any form of business property financing. There will very certainly be consequences if you opt to prepay or sell your home during this window.

• Fixed packages provide firms with more confidence, as they have a predictable cash outflow for the next two to three years. Variable packages tend to be somewhat less expensive at first, but this might change depending on how interest rates fluctuate.

Brokers deal with a wide range of lenders, giving them access to a wide range of products at various pricing points. That means you may go to a single mortgage broker and examine a variety of lending options. To select the best financing, the broker will assist you comprehend the interest rate, LTVs, and other information of each offer. This is opposed to you applying with each direct lender independently and analyzing them on your own.

A typical application can take as quickly as a few weeks and drawdown and cash out arrangements can take an additional month to complete as there will be legal arrangements that needs to be made especially if there is a transfer of charge over the asset.

Apart from the standard business documents like your bank statements, financials, guarantor’s NOA and CBS report. The more important documents are:

• Receivables ageing list

• List of buyers and the forecast purchase amount

• Contracts or agreement with your buyer

• Sample invoices

Most of the time, it can take up to 1 month to get a credit line approved. This is typically due to the fact that they need to get you set up on a system as well so that you can be familiar with the operational process with the financier.

You can finance your invoices as many times as you want as long as it is within the credit limit that is approved and you have the buyer approved. You do need to note that most financiers have a minimum amount for each invoice and there is a minimum fee per invoice. Hence, it is important to weight the cost when financing smaller invoices.

Invoice financing services are divided into two categories: recourse and non-recourse. Non-recourse financing has higher costs, but the financier will bear the risk if the consumer does not pay. Recourse financing is less expensive, but you must purchase back invoices if they go unpaid for a certain number of days as specified in the financing agreement.

Invoice financing allows businesses to get paid up to 90% of their invoice amount early, allowing them to bridge or improve cash flow that would otherwise be locked in unpaid bills due to payment conditions or delayed payments. It is a cost-effective, cash-flow-friendly alternative for SMEs who require a short-term capital infusion.

Most financiers can offer a credit limit of up to S$10 million depending on the credit quality of your end buyer.

There is a one time disbursement fee on each invoice and an interest fee that is charged pro-rated to the tenor of the financing.

Apart from the standard business documents like your bank statements, financials, guarantor’s NOA and CBS report. The more important submissions are:

• Sales records from sales software or sales management providers like Stripe, Shopify, Shopee, Grab, etc.

• Forecast of future sales

• Connectivity to accounting software like Xero

Due to level of administration involved in doing projections and forecast, and also linking of certain sales systems, a revenue based financing can take longer than a regular unsecured loan. Nonetheless this can take a short as 2-3 weeks to as long as 1-2 months depending on the level of administrative capacity of the SME.

The beauty of revenue based financing is that you do not have a fixed interest rate but rather a fixed cost determined upfront. This is because regardless of how long the tenor of your loan, the total fees are fixed. By that way of calculation, if you have stronger revenues and make repayment quicker, your interest rate would be higher. But this is a good problem to have as it means that your business is doing well. The opposite is true, if your revenues are lower and repayment slower, it means that your interest rate is lower.

One of the key disadvantages is the level of administration that is required. As monthly repayments are not fixed, you will need to either connect your sales system to the lender or provide periodic reporting to them so that they can calculate the repayment amount. For many small businesses with haphazard book-keeping, this can be a real struggle and pain and a financing structure of such is not suitable.

As the name suggest, it really depends on your revenue. Some of our lenders can lend up to S$10 million for start-ups. A good gauge would be 3x of your monthly revenue.

While there is no application fee. There is typically a fee involved when you make a drawdown which can range from 3-5% of the loan amount. Hence it makes more sense to have a longer tenor loan since you are paying the same amount on processing fee.

It takes roughly the same time as an unsecured business term loan which could be as fast as 2-3 working days.

Typically a credit line is available for 6-12 months upon approval and is subject to renewals after these periods. Some lenders might require certain documents like your latest bank statement prior to a drawdown.

A line of credit is a standby loan option and it does not incur interest cost or any fees unless a loan is drawdown. This means that it can be kept for emergency purposes. A total amount, max tenor and interest are predetermined.

This is typically the same as an unsecured business loan which is typically up to S$200,000.

This can be fairly quick with full submission of documents. It should take no longer than 1 week for a business card to be approved. In the event no physical card is issued, a virtual card can still be utilised for expenditure.

Typically the same few documents will apply to the business which include your bank statements and financials. For those requiring guarantor, this might include your notice of assessment and your credit bureau report (CBS).

The quick answer is no, but some lenders do require guarantors. This is great as it reduces reliance on many personal credit points like your notice of assessment and credit bureau score.

The maximum unsecured credit is S$500,000 but many assess based on two factors. One is your cardable spends which will act as a base for the limit. The limit would then be 2.5x your expenses. The other will be your revenue and it should usually not be more than 2x your monthly revenue. So a combination of both factors will determine your credit limit. Of course, other credit factors will apply.

For a classic personal loan, the golden standard is the same day. However, this might take longer for some lenders including banks. Some banks can facilitate same day disbursement while others might take more than 2 weeks. For shares and insurance backed, these might take at least 2-3 weeks as transfer of shares and assignment of proceeds will need to be completed before the loan can be disbursed.

There will not be any margin calls. However, lenders can ask for a top-up on your loan should the market price of your shares held in collateral is not able cover at least 90% of the value of your loan.

No. Shares held as collateral cannot be sold until the loan is fully redeemed. You will still get to enjoy upside capital gains and dividends from your owned shares.

Fear not, there is no credit review for personal loans and your bank will not call for a demand for early repayment. However, you will still need to make good on your instalments.

Here’s a few reason, one is the lack of vintage and track record for your business which many banks set as a minimum criteria, even for some of the start-up loans that are much touted by some banks, these are highly selective and require companies to be post-revenue. Also if you have a full-time employment, this enables you to obtain a much cheaper source of financing than a business loan. We would advise you to take a loan while in employment with the longest tenor. Most personal loan can stretch up to 5 years.