- June 4, 2021
- Posted by: avantconsulting
- Category: SME Loans
Business Loans available to more industries – As the interest rates start to rise after the pandemic lowered rates are no more. The banks are starting to loosen their requirements.
Last year in the year of 2020, we have seen the interest rates for the bank loans in Singapore go to the lowest we have seen at 2-2.5% effective interest rates which is unprecedented.
This is something that cannot last forever as this will lead to other problems.
Rates have since slowly adjusted upwards to about 4.5% effective interest rates.
With a higher interest, the banks can take on more risk.
Previously some sectors that were considered high risk are, contractors/builders, manufacturing and retail.
Right now, with the new rules in place, it is likely that you will find it easier to gain access to funds than before.
If you are a business owner that needs your funds to help with cash flow and also to make sure you are able to continuing hiring and running your business, this is a good time to get into the SME business loan.
The Temporary bridging loan is a good way to help you pull through this tough business climate.
For business owners that require consultancy on how to gain access to the funding, you can speak to us.
Sometimes, there are just a few small reasons why you application is not strong and require more help.
We are able to guide you and also help you understand and connect you with the best bankers in the banks to help you gain access to the loans.
We speak for you and work for you to ensure you are able to work on your business.
Avant Consulting was founded with customer service in mind and we keep to this.
We work closely with our friends from K Cloud Accounting to provide a holistic service business as well.
Speak to us now and thank you for reading our article on “Business Loans available to more industries”.