Singapore is a land of unlimited opportunities. Businesses keep springing up daily, and this helps keep the economy of the country thriving. However, the majority of these businesses are small and medium-sized enterprises, and we know how difficult it gets to run enterprises of these sizes here. But it gets easier with the availability of sufficient funds and credit sources. This hindering factor, therefore, necessitated the rise of different types of options for financial assistance for enterprises within Singapore. One of these variants includes the Trade Credit loan.
Trade credit loans are the kind of business loans that are offered to enterprises to facilitate their instant purchase of supplies/goods, especially at points when immediate payment to suppliers cannot be made on the strength of the business’ purse. Trade credit is commonly used by business organizations, particularly good-based enterprises, although few service-based enterprises also patronize the credit loan as a source of short-term financing. Several money lending outlets in Singapore offer the trade credit loan.
ABMcreditz is one of the foremost of Singapore’s licensed moneylenders. We offer several different loan types, one of which is the Trade credit loan. We provide enterprises with the opportunity to buy goods or services on account from their suppliers without having to make an immediate cash payment to them.
We understand that for many businesses, trade credit is always an essential tool for financing growth. Start-ups most especially, they see the trade credit loan as usually their first financial support up their ladder of growth. This is so because, when a business starts, it doesn’t enjoy much credit facilities. This is because banks and suppliers have nothing with which to judge the productivity of the enterprise. Suppliers won’t offer trade credit, and they will make every order c.o.d. (cash or check on delivery) At least until when over time, you have successfully established that you can pay your bills on time. So, we make the terms and condition around your application, collection, and repayment of loans as easy and affordable as possible.
We are a financial institution that is authorized by the Monetary Authority of Singapore and licensed with the Registry of Moneylenders under the Ministry of Law. By implication, we are on the list of licensed moneylenders in Singapore (MAS). The flexible, short-term borrowing facility, is available to firms regardless of the method they use to trade, whether open account, collections or documentary credit basis.
To get our low-interest, no pressure, Trade credit loan, make sure to have a good credit rating. You should understand that without a good credit rating, trade credit loan may not be offered to your business.
Ready for a loan? Submit an application and get your business up and running.