Money lenders provide money to businessmen to meet business needs. There are many requirements that a person running a business has. These business needs are generally met from his own bank balance or from his family or from Licensed money lender Singapore. A businessman requires money to start a business and to keep it running. In times of profit, he should always set aside a certain portion of his profit for hard times. Hard times occur when business is slow or when profit is low. He will need money to put into his business, as additional capital. There are many requirements that a businessman has and money is always in demand to meet these expenses. If he does not have surplus profit, he can get additional resources from banks. But some businessmen will not have the necessary collateral to produce to banks. In such cases, he will have to get loans from licensed money lender Singapore.
- Loan for Business: To help in the running of a business, a businessman will require loan to keep his business running. He will have to pay the interest for the loan amount.
- Term Loans: The businessman gets a loan amount as upfront, which he will have to pay along with the fee over a period of time.
- Finance for Equipment: when a businessman has a need to purchase new machinery or to repair the existing machine he can get a loan amount to purchase the machinery.
- Line of credit: with a business line of credit, licensed money lender Singapore provides a loan that the businessman can draw any time. It is almost like a credit card.
- Short-term Loans: This is loan obtained for a short-term and the businessman has to repay it within the stipulated duration along with the fees.