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Understanding Unsecured Loan in Singapore
An unsecured business loan in Singapore is a type of financing provided to businesses without the need for collateral. Unlike secured loans, where the borrower must pledge assets (such as property, equipment, or inventory) as security, unsecured business funding is extended based on the borrower's creditworthiness and financial history. This makes unsecured loans particularly attractive for small and medium-sized enterprises (SMEs) or startups that may not have significant assets to offer as collateral.
Key characteristics of unsecured corporate loans include:
- Credit-Based Approval: Lenders evaluate the credit history of the business and its owners, along with other financial indicators like cash flow and revenue, to determine eligibility, unsecured loan limits, and other terms.
- Higher Interest Rates: Due to the higher risk to lenders from not having collateral to fall back on in case of default, unsecured company loans often come with higher interest rates compared to secured loans.
- Flexible Use: Funds from unsecured loans can typically be used for a wide range of business purposes, including operational expenses, expansion, inventory purchase, or to improve short-term cash flow.
- Quick Access to Funds: The application and approval process for unsecured loans is often faster than that for secured loans, as it involves less paperwork and no valuation of collateral. This allows businesses to access needed funds more quickly.
Experience the power of next-day cash, tailored for companies with challenging credit histories and limited financial track records. At Tembusu, an unsecured business loan lender, we believe in your potential and are dedicated to assisting your business. Our loan offers competitive interest rates, flexible repayment terms, and swift approvals.
Our unsecured loan products in Singapore are underwritten and disbursed by TBS Capital, a subsidiary of Tembusu Financial Services.
Why our Unsecured Business Loan
1 Day Loan Approval
Low Interest Rate
Flexible Payment
High Approval Rate
No Additional Charges
How to Apply for an Unsecured SME Working Capital Loan?
| Step 1: Receive Expert Consultation |
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Contact us at (+65) 6741 2588 or WhatsApp us for free unsecured loan consultation and advice from our loan specialist. |
| Step 2: Submit Your Documents |
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Send us the required documents and we will expedite the approval process for your unsecured loan. |
| Step 3: Unsecured Loan Approval |
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Once your unsecured loan is approved, you will be notified by our loan specialist who will also explain the loan features and charges. |
| Step 4: Unsecured Loan Disbursement |
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After you have accepted our loan offer, we will formalise the legal paperwork and disburse the loan to your company. |
FAQs on Unsecured Loan & SME Working Capital
An unsecured company business loan in Singapore is a financing option where businesses can access funds without pledging collateral. It provides quick access to capital for various business needs.
Our unsecured business loans are tailored for small and medium-sized enterprises (SMEs) seeking funding for their daily operational requirements. To be eligible, businesses generally must be registered and conducting operations in Singapore, with the majority of shareholders being either Singaporean citizens or Permanent Residents.
Yes, startups and businesses with less-than-ideal credit may qualify for unsecured corporate loans or SME working capital loans, especially if they demonstrate strong potential for growth and a solid business plan. However, terms and interest rates may vary based on perceived risk.
The primary difference lies in the requirement for collateral. Secured loans require some form of security (e.g., property, equipment), which the lender can claim if the loan isn't repaid. Unsecured loans in Singapore rely on the borrower's credit history and financial stability, often resulting in slightly higher interest rates due to the increased risk to the lender.
Loans can be approved within 1 day, depending on documentation and loan complexity. Disbursement typically occurs within 2 days.
To apply for a business loan, you'll need to provide essential documents such as your financial statements, bank statements, credit bureau report and identification documents of directors/partners.
Find out more about our unsecured business loan
Our team is always ready to answer questions about our unsecured working capital loan in Singapore and guide you through the application process.
Personal Loan
Accredited investors can get an unsecured loan to be used for various purposes.
Business Loan
Companies can get our loan for their business needs in the form of overdraft, fixed term loan and equity loans.
Mortgage Loan
We offer loans to companies and individuals secured against their property as collateral.
Caveat Loan
We offer loans to companies and individuals based on the equity in their property.
