Unsecured Term Loans

Unlock growth opportunities for your small and medium-sized enterprise (SME) in Singapore with unsecured business term loans. These collateral-free financing solutions provide essential funding for expansion and working capital needs, requiring minimal documentation.

Discover the potential of unsecured term loans to propel your SME's growth with Ava, your trusted partner in streamlining and expediting the loan application process for you.

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Why Us?

No Collaterals Required

Simple Online Application

Minimum Documents Required

Fast Approval

Up to $120k Loan Amount (jointly offered by Enterprise Singapore)

Tenor of up to 1 year

For local businesses in operation for at least 12 months

Participating Financial Institution Of

Frequently Asked Questions about Unsecured Term Loans for SMEs

Why should I choose an unsecured term loan over another loan type?

Selecting an unsecured term loan provides SME owners with greater financing flexibility and convenience. Unlike other loan types that often demand collateral, unsecured loans eliminate this requirement, streamlining the borrowing process. This means that you can swiftly access essential funds for business growth. Now you can apply for unsecured term loans online conveniently.

What is the range of loan amounts for unsecured term loans?

Our unsecured term loans offer up to $80,000 in financing for a 6-month period, without the need for collateral. This flexible approach allows SMEs to select any loan amount up to $80,000 to meet their specific needs, without any minimum threshold. This ensures that whether your business seeks a minor financial boost or significant investment capital, our loan structure is designed to accommodate your requirements effectively.

How does the loan period work for unsecured term loans?

The loan period, also known as the repayment term, is the time taken to repay the loan in full. This duration varies across different lenders, with the loan tenure for our unsecured term loans typically being 6 months Should your business require a longer repayment term, we offer personalised assessments to accommodate your unique financial situation. We encourage you to discuss your financing requirements with us, so we can provide a solution that is tailored to your needs.

How quickly can I access funds for unsecured term loans?

Our unsecured term loans are designed for quick access to funds, offering a streamlined process that can result in funding being available as quickly as within 24 hours after your application is completed. This expedited service is tailored to meet the immediate financial needs of SME owners, ensuring you can obtain the support you require without the lengthy wait times associated with traditional loans.

What are the other financing options suitable for SMEs?

SMEs have a variety of financing options at their disposal, including Factoring, Payables Financing, and Revenue-based Financing. Each of these alternatives offers distinct benefits to cater to different business requirements. We invite you to discuss your specific needs with us, so we can design a financing plan that perfectly aligns with your business objectives. Reach out today to explore how we can tailor a financing solution that supports your company's growth.

Why Term Loans?

Flexibility

can be used for a variety of purposes, including equipment purchases, expansion projects, working capital, and more.

Lower interest rates

have lower interest rates than other types of financing, making more affordable option for businesses.

Predictable

which means that businesses can anticipate monthly payments and plan finances accordingly.

Longer repayment terms

can provide longer repayment terms than other forms of financing

How does it work?

Take a look how to apply our product financing. It's so simple and easy to apply

Submit your documents and apply online

This process typically involves providing information such as the name, address, contact details, and payment terms.

Upon approval, the funds will be disbursed directly into your bank account

Once the loan is approved, we will disburse the funds into the borrower's bank account directly.

Monthly repayments will be done through GIRO

The borrower will then be responsible for making regular loan payments, typically on a monthly basis, until the loan is fully repaid. During the loan repayment period, the lender will provide loan servicing, which includes tracking loan payments, updating account information, and responding to any borrower inquiries or concerns.

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FAQs

What is the eligibility criteria for Unsecured Term Loans?

Common eligibility requirements include having a good credit score, a stable business history, a proven track record of revenue, and the ability to demonstrate the ability to repay the loan.

What are the documents required?

- Business Plan: A detailed business plan that outlines the company's goals, financial projections, and how the loan will be used.
- Financial Statements: Financial statements that provide a clear picture of the company's financial health, including income statements, balance sheets, and cash flow statements.
- Tax Returns: Business and personal tax returns for the previous year to demonstrate financial stability and the ability to repay the loan.
- Bank Statements: Bank statements that show the company's cash flow and financial stability.Legal Documents:
- Legal documents related to the business, such as business licenses, articles of incorporation, and ownership documents.
- Identification: Government-issued identification for the business owner or authorized representative, such as a driver's license or passport.

How long is the process from approval to disbursement of loan amount?

In general, The process typically takes several days to a few weeks.

What if I require more than $80k?

If you require more than $80k for an unsecured term loan, you may need to explore other financing options, such as secured loans, lines of credit, or venture debt.

How do I apply for an Unsecured Term Loan?

Applying for an unsecured term loan involves researching and comparing lenders, checking eligibility requirements, gathering required documents, filling out the application, submitting it to the lender, waiting for a decision, reviewing the loan terms, signing the loan agreement, and receiving the funds in your business account. It's important to carefully evaluate your business's financial situation and consider the potential costs and benefits of taking on debt before applying for an unsecured term loan. Additionally, maintaining good communication with the lender throughout the application and repayment process can help ensure a smooth and successful experience.

How is the loan disbursed to my business?

The disbursement process for an unsecured term loan can vary depending on the lender and the specific loan terms. In most cases, the loan is disbursed directly to the borrower's business account, either by a wire transfer or by a check that can be deposited into the account.

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Disclaimer: The information provided on this page is for general informational purposes only and does not constitute financial, legal, or professional advice. While we make every effort to ensure the content is accurate and up to date, GB Helios accepts no responsibility for any loss or liability that may arise from reliance on this information.

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