Fast approval loans are the most sought-after loans in today’s times. This is because Business owners have no time or patience to wait for getting funded. They only want to fast-track the financing process as much as possible and go to market as quickly as possible with their product or service.
This expectation pushes banks and lenders to a unique point – they need to evaluate the borrower holistically, and yet, they are under pressure to deliver quickly lest they lose the business to a competitor bank or lender.
So, how can all this be balanced? One way to achieve this is to have a fair and straightforward process by which a borrower can be evaluated. For this to happen, banks and lenders need proper and accurate documentation from borrowers. The Credit Score and bank statements of the directors, and the guarantors (if any) can paint a clear picture of the loan eligibility of the individuals involved. In addition to this, the business will also need to be evaluated on basis of Singapore shareholding, and years in operation, and the profit and loss statement.
In the digital age of smartphones and computers, it is no surprise that loan seekers can also apply for, and avail loans from the comfort of their homes, without even having to step into the banks or offices of a banker or lender. Again, this sort of Financial Technology enablement means that modern banks and lenders need to provide such digital platforms so that they can keep up and stay ahead of the competition.
The concept of pre-approved loans is also not new. These type of loans are offered at a personal level by bankers based on the transactions done by their customers on their bank accounts, the income, salary, and expenses. The advantage with a pre-approved loan is that, everything is already approved for a particular loan amount, and it only takes the click of a button to apply for, and avail the loan amount, usually within 24 hours.
All things considered, the scenario today is with impatient borrowers and aggressive lenders, with both parties pushing the limits to get business done. This has created an ecosystem with a need for a fast approval process for business loans.
Are you in the need of a business loan from banks, lenders, and/or under the Enterprise Financing Scheme? Did you know that Finnacle Capital Solutions has working relationships with 21 leading banks and lenders in Singapore? We can do with it takes to ensure that we get accurate documentation from your end, and also ensure that your loan application is processed in just 8 working days. Our Industry insight helps us in recommending the ideal banks, lenders, and loan products to you to suit your business needs.
So, if you are on the lookout for fast approval loans, look no further than Finnacle. Get in touch with us today and we will get a FREE credit assessment done for you, as well as make the application for your business loan.
Finnacle Capital Solutions seeks to contribute to the community and bring value to its customers by being a compelling financial advisory firm, while upholding the highest ethical values.
We would like our customers to enjoy exceptional services which is operated in a trust-centric and customer-friendly environment and devoid of complicated processes.
Finnacle Capital Solutions is a Singapore-based company providing financial advisory services to Small to Medium Enterprises in Singapore. Finnacle acts as an intermediary between its customers and lenders.