In any country, Small and medium enterprises employs the most people, yet are the most under-funded.
The success and failure of a business is often the availability or lack of funding. Small businesses often do not have money to employ a Chief Financial Officer or a financial controller or someone who would help them to assess funding needs as hiring these people could easily set them back between S$80,000 to S$150,000 per annum at the least.
Most businesses have an accounting function to handle operational matters but not funding and strategic financial matters. This is a gap that differentiates a small and medium business with that of larger successful businesses.
Hence many small businesses continue to suffer on several fronts.
Hence iCompareLoan consultants are here to be your long term business partners for business growth for the next 3 to 5 years.
Many businesses may not dedicate enough time to finance and accounting. Their financial statements are also not in proper order, or do not give the bank a fuller picture of the financial health of the company.
Failure to get a loan in one bank can be potentially detrimental for your future loan applications at other banks.
At iCompareLoan.com we follow a 4-step process to maximize the chance of loan success and in obtaining a larger loan quantum.
|1||Consultation and Assess||To understand company's financial situation. Sign contract with iCompareLoan.com (no upfront fee).|
|2||Profile and source||Create a profile and source for funding products. Assess your chances of success through informal channels.|
|3||Reports and Justifications||We prepare a confidential report along with your loan submission to our lenders to highlight the key strengths of the company. Other loan consultants do not do this.|
|4||Loan Approval||You only pay us a fee upon successful loan approval.|
Benefits of using iCompareLoan Consultants
Annual turnover > $300,000
There are myriad choices of funds such as SME team loans, overdrafts, floor stock financing, microloans, government grants, spring grants, etc. Each has different criteria to meet.