Getting a business loan doesn’t have to be complicated. Poss makes it easier so you can get access to your funds in just 4 simple steps! But how do you get started? Read on to find out more.
What Documents Are Required During The Application?
- A copy of your NRIC (front & back) or Passport;
- Credit Report dated within the last 30 days which you can purchase from Credit Bureau Singapore;
- Latest years’ Notice of Assessment which you can obtain from IRAS; and
- Exported PDF copy of the last 6 months bank statements from your business bank account.
Who Should Submit These Documents?
We will request for key stakeholders within the business to act as personal guarantors for the loan. So personal documents should be included for the business owner, directors and shareholders of the company. Ideally, the loan application should be made by the business owner since they understand the business the most.
Any Other Requirements For The Business Loan?
You’ll need to be a Limited Liability Partnership or Exempt Private Company limited by shares incorporated in Singapore. In addition, you’ll need at least 6 months of transaction history in an operating business bank account. Unfortunately, we are unable to lend to Sole-Proprietorship and Partnership at the moment.
Once ready, fill out your application and submit it online in less than 10 minutes. Upon successful submission of your loan application, we will revert back to you on the results within 48 hours.
I will like to take loan for my businesses