Small and medium-sized enterprises (SMEs) in Singapore can now entry as much as SGD300,000 in funding because of a versatile, fast-turnaround line of credit score supplied by Bizcap.

The Enterprise Line of Credit score affords a funding answer tailor-made to the money stream wants of native SMEs, and is designed to assist companies navigating seasonal fluctuations, money stream gaps, or time-sensitive alternatives, with approvals in precept throughout the day.

In contrast to conventional financial institution merchandise, Bizcap’s Line of Credit score affords on-demand entry to funds with versatile drawdowns, and repayments that align with a enterprise’s money stream.

Curiosity is barely charged on the quantity used, and companies can entry funds as wanted, with out reapplying every time.

Confirmed globally, tailor-made for Singapore

“With Joseph main our Singapore staff, Bizcap’s Line of Credit score builds on sturdy traction throughout our worldwide markets, with excessive utilisation charges and repeat drawdowns from SMEs navigating seasonal cash-flow wants and progress alternatives. It’s trusted by advisers for quick approvals and clear assist, and by enterprise homeowners for dependable flexibility with out reapplying every time.

From a product-market-fit perspective, the Line of Credit score has shortly turn into a cornerstone in a number of areas, representing over 40% of deal quantity in some markets, with 150%+ utilisation and excellent dealer and buyer suggestions driving momentum. We sit up for seeing the product welcomed by the Singapore market.”

mentioned Rebecca del Rio, Bizcap’s Chief Income Officer.

“We’ve listened to the challenges SMEs face in Singapore — particularly the velocity, pink tape, and lack of versatile choices from mainstream lenders.

This Line of Credit score is our reply. It provides companies dependable, ongoing entry to capital with out the same old friction.”

mentioned Joseph Lim, Managing Associate at Bizcap Singapore.

“Our objective is to make funding sensible, quick, and accountable.

We’re excited to supply a product that may actually assist native companies, whether or not it’s stabilising money stream or investing within the subsequent stage of progress.”

added Tony Truong, Chief Credit score Officer at Bizcap.

Bizcap works carefully with advisers and brokers to assist ship funding options to a broader vary of purchasers.

Its native credit score specialists assess the general monetary well being of a enterprise — not simply credit score scores — and assist companions all through the referral course of.

Bizcap is a world non-bank enterprise lender providing quick, versatile funding to small and medium-sized enterprises (SMEs) in Singapore, Australia, New Zealand, the UK and Europe.

Based in 2019, Bizcap empowers SMEs by providing approvals in as little as 3 hours, with same-day funding out there. Bizcap has funded over 42,000 SMEs, totalling SGD1.6 billion.

Featured picture: Edited by Fintech Information Singapore, based mostly on picture by HobieArt by way of Freepik