Too many Singaporean businesses are finding their business growth hampered by a lack of cash flow or a weak working capital position, and banks are becoming increasingly selective about which businesses they lend to.
As a result, SMEs often feel 'stuck' and suffer the consequences.
They are unable to attract new business and service key clients, while missing out on attractive opportunities, and failing to meet revenue targets.
Our flexible funding with no long term contracts will ensure that you are never held back through lack of funding.
Seek for funds as much as you need, for as long as you need.
Whether you're looking to fund your purchase orders, invest in business expansion, or meet any short terms cash flow needs, we'd love to help you.
Your business is great - It's time to show the world how truly great you can be.
New Union's innovative approach to business financing involves combining technology with crowdfunding to provide better business funding while providing investors with a new investment vehicle.
Here's a quick comparison if you're a fast-growing SME and is seeking funds at $300,000
|New Union||Traditional Financing||Typical Funding from Another Leading Alternative Financing|
|Repayment Term||1 to 12 months||12 months to 36 months||6 to 12 months|
|Type of Rate||Fixed rate No hidden fees, simple and transparent||Fixed rate + Prime Lending Rate + Application Fees + Facility Fees||Fixed rate + Application Fees|
|Early Pay Off||$0. No penalty for early re-payments.||2% penalty||$0. No penalty for early re-payments.|
|Can they finance your business up to $300K?||Yes||Yes||No, loan quantums are capped at 200K|
|Processing Time||As fast as 7 days||2 to 3 months||1 week|
|Will your clients know that you're in debt?||No||Yes, through a Registered ACRA Charge||Depends|
See If I Qualify
Complete our simple online application form, it only takes a few minutes. We will contact you and discuss your application and options.
We will verify your eligibility and confirm facility amount.
Sign your documentation and funds will be transferred to your nominated account. Many of our customers are funded within 3 days of approval.
One of the biggest challenges of growing a business is to maintain stable cashflow. In the past, we tried to apply for bank loans but there are always unfavourable terms for us. Usually, it's either we have to borrow more than we need, or the lock-in is too long.
After knowing about what New Union offers, I realised that I can borrow only what I need, and for how long I need to borrow for. This helps me to save up to around $50,000 if I were to get the same loan from traditional methods.
- Adrian Tjhin and Ben Ng
Speak to our Client Advisor at +65 6536 5356
Now, please click here to begin your New Union member registration.