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FAQ
What it means
What is Private Financing?
Private Financing is a form of short term borrowing which is extended by the bank or a lender to clients based on unpaid invoices.
What is the Process like?
Compared to non-bank lenders, Private Financing empowers you to obtain short, or long term financing. Each private financing option has individually tailored criteria to your needs so you might find it much more flexible compared to traditional lending. To find out more about the process click here.
How does Private Financing benefit me?
Private Financing enables you to get tailored and custom solutions for your business. Short and Long Term funding is available for different scenarios. If you have not qualified for bank lending OR require tailor made solutions, then private financing might be for you.
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About Private Financing
What is Private Financing?
Private Financing is a form of short term borrowing which is extended by the bank or a lender to clients based on unpaid invoices.
Who is Private Financing suitable for?
Lenders / Factoring Companies are typically willing to finance your company if you are a growing business with moderate sales, or a larger business with strong sales and a plenty of opportunities.
Why do Businesses use Private Financing?
Companies often engage Private Financing to meet Short Term Liquidity needs. Higher liquidty allows companies to grow and run business operations efficiently.
How do I qualify for Private Financing?
Ideally, you'd meet the basic criteria if you sell goods or services on normal credit terms to various creditworthy businesses or government agencies, and your invoices are for fully delivered goods or fully provided services. The age of your business, its trading results and your asset position are less important when it comes to invoice financing or private financing approval. Lenders are generally more interested in the Creditability of your customers (Debtors).
How much will you advance to Invoice Sellers? How do you determine that value?
Depending on the Credit Analysis on your company, the Lenders determine a LTV & Interest Rate that matches the best interests of both parties.
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Our business loan consultants will call you within 1 working day and will compare with you the rates from the different banks at no obligation.
Did you know that LoanOwl saves you time by handling your entire business loan application from start to end.
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A LoanOwl specialists will call you based on your selection
We work with you on for documentation
You relax, and let us get you financing
We contact you when business financing has been approved
FAQ
- How Long Does It take for a Loan To be approved?
- Depending on the application the loan approval process will take between 3 to 10 working days
- What is the interest rate that I can expect?
- For the Micro Loan scheme, you can expect an interest rate from 3.7% flat per annum. You can pay off the loan at any point of time and the interest will be pro-rated
- How do I know which loan I Quaify for?
- If you are a Singapore incorporated company, you can potentially qualify for business financing, no matter how long your company has been incorporated. To know your options simply enquire here or call us.
- Which lenders do you work with?
- We work with all local and foreign banks in Singapore, Private Financiers and other lenders.
- How do I get started with an application?
- Simply enquire here, or drop us a call.
