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Fortune Credit Business Loan review
Accessible and quick support to meet your business' financing needs.
Business loans may be essential for improving cash flow, growing your business or tiding it through a rough time. Read on to find out more about Fortune Credit Business Loans, including how they work and whether you might be eligible for them.
What is commercial money lending?
Commercial money lending refers to a debt-based arrangement between a business and a financial institution. It is typically used to fund major capital expenditure, or to cover essential operation costs.
How does a business loan with Fortune Credit work?
Fortune Credit is a lender based in Singapore, licensed under the Ministry of Law. It provides an array of loans including personal loans, foreigner loans, renovation loans and business loans. These loans may amount from S$1,000 to S$100,000 over a period of up to 12 months.
Signing up to a business loan with Fortune Credit is straightforward and simple. Visit the Fortune Credit Business Loans portal via their website. Submit essential documentation and personal details. It will take Fortune Credit approximately one business day to respond to your request.
Features of Fortune Credit Business Loans
- Seamless and efficient application process
- Flexible and individualised repayment terms
- Low credit rating threshold
- Competitive interest rates
- Live chat feature online to clarify any queries
What do I need to apply?
First up, make sure that you meet all requirements before signing up for a business loan with Fortune Credit.
- Applicant must be a registered business in Singapore
- The minimum operation period of the business is one year
- More than 30% of shareholdings must be owned by Singaporeans or Singapore Permanent Residents
- The business must have a minimum annual turnover of S$60,000
Once you’ve made sure that you’re eligible for a business loan with Fortune Credit, you should proceed to gather these documents for your online registration:
- Identity cards for all directors, sole proprietors and partners
- Business’ latest six months of bank statements
- The company’s most recent annual financial statement
- Assessment of income tax for the company/directors and sole proprietors
- Singpass (to download the IRAS NOA)
A Fortune Credit business loan could be a competitive, convenient loan option to apply for when your business needs capital support. Make sure to understand any hidden fees, specifications or details of this plan before opting for a loan. Besides this, remember that loans should be short-term cash boosts and not long-term sources of financial support.
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