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7 Quick ways to improve your chances of getting business loan approved in Singapore

Small and Medium-sized Enterprises (SMEs) play a crucial role in Singapore’s economy, contributing to over two-thirds of employment and half of the country’s GDP. However, these businesses often face challenges when it comes to securing financing to sustain their operations and fuel growth. In this article, we will explore the steps SMEs can take to improve their chances of getting approved for business loans in Singapore either from banks or non-bank lenders.

5 ways to get your business loan application approved

It is nothing short of frustrating when your loan applications keep getting rejected by banks or lenders and yet you still have no idea what you are doing wrong.

We talk to Mr Joe Low, the Director of private lending company Affinity Financial Services, to get some tips on what SME owners can do to increase the odds of applying for a business loan successfully.

Our Approach

Many SME companies seeking funding say they want a different and better kind of partner. Someone to help them scale without taking control. To challenge them without driving them too hard too fast. To treat them with the honesty, respect and empathy they deserve. We take pride in being more flexible, patient and supportive than any other funding provider. We help discover sources of new growth potential then work in partnership to make a difference. We recognise that companies need more than just money. We provide practical and strategic support directly and also through access to our broader networks. We want you to focus on your business not on fundraising. We run a fast and focused process understanding your business and funding needs, we provide early feedback and make practical suggestions for alternative options.

Our Mission

We aim to be the most efficient funding company in the region.