A working capital loan is generally used as a short-term business financing solution for costs that are incurred on a regular basis such as rent, salaries, and loan repayments. There are also variable costs such as deposits, marketing, investments or paying suppliers and vendors that may require temporary funding from time to time.
Businesses can apply for a working capital loan for a range of business needs as stated above, unlike other more restrictive business loans. They can also use the loan to bridge cashflow gaps for capital-intensive projects, adapting to a new product or service, or hiring more staff in lieu of expanding their business.
At Bukit Timah Licensed Moneylender, businesses may borrow up to SGD 300,000 for our working capital loan with competitive interest rates from as low as 4% per month. The loan amount, loan period and interest rates may vary and is subject to approval.