How to Successfully Obtain Your Accounts Receivable Loan
Tired of waiting for your hard-earned revenue to materialise from unpaid invoices? Are you finding it challenging to sift through the plethora of Accounts Receivable Financing options, each with its own convoluted terms and intimidating requirements?
What if there was a streamlined path to bypass these hurdles and secure a successful financing solution tailored to your needs?
Accounts receivables (AR) financing is a game-changing solution for businesses seeking to advance their success. Yet, most people are unaware of this key to breakthrough their staggered growth and achieve financial liberation.
Those who do know of it may get stuck during the application process due to the complexity of presenting a compelling argument.
Newer businesses face an even tougher time due to their limited operational history, while regulatory compliance issues add another layer of complexity.
I’m Clive, from Launch My SME, and we help SMEs like you navigate the complexities of securing Accounts Receivable Loans for your business needs.
With our expertise, you can effortlessly overcome common application hurdles, from stringent documentation requirements to challenging credit assessments, ensuring your business secures the funding it needs to thrive and grow.
We help you cut through the confusion, guiding you through each step and ensuring your application is robust, compliant, and ready to meet the stringent demands of participating financial institutions in Singapore.
Ready to kick-start your application and expand your business?
Why Partnering with Launch My SME Makes All the Difference in Your Loan Application Journey
1) Speed and Convenience
We are well-versed in all the ins and outs of the loan application process, ensuring a quick and successful application for your business.
We can help you cross-check your criteria against different loan schemes across various financial institutions in the shortest time possible, streamlining the entire process for you!
2) Customer-centric Service
Stop wasting time applying to the wrong loan scheme!
Many of our clients are currently receiving the maximum loan amount that’s most suited to their profile. Moreover, we can significantly increase your chances of approval with our deep understanding of the legal aspects involved.
3) Personalised Business Advice
Got the approval, but not sure how to maximise its impact?
With our guidance, you’ll receive a completely customised plan on the best ways to utilise your loan to maximise your business growth and prevent the recurrence of financial issues, ensuring you make the most out of your financial boost.
4) Extensive Professional Network
Over time, we have built strong relationships with various financial institutions and experts in the industry. Our insider knowledge gives us access to more loan options that you might not be aware of, allowing us to curate the best possible solution tailored just for you!
How does accounts receivable financing work?
Accounts receivable financing works by allowing businesses to get immediate cash based on using their accounts receivable (outstanding invoices) as collateral to secure a loan or line of credit.
Instead of waiting for customers to pay the invoices, businesses can use them as collateral to secure financing capital. Based on the invoice value, the lender advances a percentage (typically 70-90%) of the total value of the receivable financing accounts, providing the business with immediate cash flow.
Once the customers pay their invoices, the business can repay the loan along with any fees or interest charged while the remaining value of the invoices is released to the business.
Common Eligibility Requirements
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Business registration: The business seeking the loan typically needs to be a registered entity in Singapore.
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Credit quality: Accounts receivable financing companies often assess the applicants’ creditworthiness by evaluating the business’s credit history, financial statements, and overall financial health.
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Accounts receivable quality: Other than credit, they will examine the quality of the accounts receivable being used as collateral to assess the likelihood of timely payment.
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Invoice verification: To avoid any falsification or fraud, lenders would require verification, such as confirmation that the goods or services have been delivered, and that the invoices are valid and undisputed.
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While each factoring company may have their own unique financing arrangement requirements, these are some of the commonalities.
Want to avoid the headache that comes with all the different loan criteria? We have simplified the process for you with just 2 steps!
2 Easy Steps to Secure Your Loan
Step 1:
Begin by filling out our quick and easy form to find the best and cheapest loan for you in our Free Loan Comparison among all 40+ financial institutes in Singapore like OCBC, DBS, UOB, SCB, etc.
Step 2:
you should receive the loan comparison results instantly sent to you via WhatsApp. Here, you’ll get to know all the products with the lowest interest rates and longest tenure, finding the one that suits your needs best!
Hear what our clients have to say:
Testimonials
Ready to get started?
Stop Waiting and Turn Your Invoices into Working Capital Now!
Enjoy these perks when you apply:
✅ A faster, smoother pathway to getting your loan approved.
✅ A higher chance of securing the maximum loan amount from a diverse range of financial institutions.
✅ A wealth of expertise about various loan schemes and their specific requirements to ensure a hassle-free experience in finding the right loan for you.
✅ Customised financial strategies tailored to your business’s unique needs.
✅ Continuous support and professional advice so you’re well-informed at every step.
✅ A broad network of connections across financial institutions to explore a wider range of loan options.
Get your FREE Loan Comparison Finder in 1 Minute
Compare for the lowest interest rate among OCBC, DBS, UOB, Standard Chartered, Maybank, CIMB and 40+ Financial Institutes with our quick and easy loan comparison tool to save you both time & money.