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What is an Personal Loan?
Equipment loan provides a business with access to capital to purchase equipment and in turn, the equipment will secure the loan as a collateral. This would mean that the lender reserves the right to seize and liquidate the equipment in the event of default.
Lenders consider the nature of the equipment, the creditworthiness of the borrower, and financial ratios when evaluating equipment loans.
Age 21 to 65 years old
Minimum annual income: $20,000 (Singaporean/PR) or $42,000 (foreigner)
Loan Amount: 4X your monthly salary or 10X if your income is $120,000 and above
Repayment Period: Up to 7 years
Processing fee of 1-3%
Our finance consultants have processed hundreds of applications for business term loans, we can help you reduce processing time, compare to get the lowest rates and maximize your financing amount.