Entrepreneurial Spirit: Common Traits of Successful Entrepreneurs

entrepreneur

Entrepreneurial spirit—it’s a term one might use to describe the mindset of the world’s billionaires. Perhaps, it’s a trait you wish to hone in yourself, as well. Granted, your track record might not be as impressive as Bill Gates’, Mark Zuckerberg’s or Jeff Bezos’, but that doesn’t mean you can’t emulate them when managing your own business.

According to Entrepreneur, success isn’t necessarily defined by how many degrees you have or how well you did in school. It’s also not always based on who your parents are and where you come from. Often, it comes down to your mindset, personality and outlook in life.

Successful entrepreneurs typically possess these common traits and abilities.

Expertise in marketing and business development

Most successful entrepreneurs are masters of marketing and business development. A CEO or any company leader without sufficient sales and marketing experience usually struggle to stay ahead of the competition and keep up with the unpredictability of the marketplace.

With excellent acumen on the art of sales and marketing, a new CEO can overcome the weaknesses of start-ups such as lack of secure funding or the unavailability of an SME loan. For instance, in Singapore, SMEs often find it difficult to set up a business loan because of the highly competitive economy that strongly favours the growth of large companies. A founder with good business sense will continuously come up with customer segmentation, product positioning and marketing strategies to drive top line revenue.

Management capacity

This refers to the establishment of authorisation and control systems, people management and the implementation of corporate standards within the company.

Management ability isn’t directly related to business operations. It’s the constant refinement of an organisational structure, company values and corporate culture development. All of these should compel the company to courses of action in the event of mistakes and internal crises. The management capacity of a competent CEO also lies in effectively managing the value chain, optimising business resources and institutionalising the government standards. A basic example of this would be ensuring that the responsibilities of each employee in the company are clearly defined. Employees who know the entire scope of their roles are more productive and can easily solve issues regarding their tasks.

Strategic ability

Some entrepreneurs possess excellent business acumen and management capability, yet they still fail because they lack strategic vision. Being strategic in business planning doesn’t only mean putting goals and milestones on paper. That’s a wish list. A strategic entrepreneur constantly ponders on the concrete steps that he or she can take to accomplish their goals.

For instance, most small and medium-sized businesses face hurdles with securing business loans from banks. A resourceful CEO will take a proactive approach to sourcing funds and will explore new ways to optimising the use of limited resources. This can include searching for licensed lenders who offer funding for new or small companies, even for those with unstable customer bases.

Quick and Easy Approval for SME Loans at Capital Funds Investments

At Capital Funds Investments, we provide clients with easy, reliable and flexible solutions for their urgent cash flow situations. We’re a licensed moneylender with an excellent track record, connecting many SMEs with swift cash resources.

We’ve done it for other businesses; we can do it for you. Let us support your growing business by calling 62817736.

Beware of Loan Sharks: Distinguishing Licensed Moneylenders from Unlicensed Ones

loan

At some point, you may need a source of emergency funds for financial issues. Your first option would be to take out a bank loan, but that comes with the anxiety of not knowing whether the bank will approve your request. An easier option is to go straight to moneylenders since they offer a faster and simpler way of providing the amount you need.

Although moneylenders are lifesavers for people who need quick cash, some of them falsely claim to be certified lenders and prey on unsuspecting borrowers. Their business practices are often unsavoury, and they typically charge high interest rates. They threaten buyers to pay as soon as possible, adding unnecessary stress and anxiety.

The last thing you want when you’re worried about your finances is to fall into the trap of a loan shark. These tips help determine whether you’re dealing with a licensed or unlicensed moneylender.

Check the terms of the loan

Singapore law requires legal moneylenders to be transparent about the loan terms. The conditions of the loan must include the interest loan, payment methods and repayment period. Read through the terms and ask the lender any questions about the contract. If the moneylender doesn’t explain the terms in a manner that you understand, or if they don’t address your concerns altogether, look someplace else.

The loan amount depends on your income

Licensed money lenders follow Singapore law that sets the loan amount depending on a borrower’s annual income. As of 2016, the rates are as follows:

  • If less than $20,000, up to $3,000
  • If at least $20,000, six times the monthly income
  • If less than $10,000 for foreigners residing in Singapore, up to $500
  • If at least $10,000 and less than $20,000 for foreigners residing in Singapore, up to $3,000

Should a moneylender offer you a higher amount that the usual loan that is allowable for your income bracket, they might be a loan shark.

Always ask for a contract

Licensed moneylenders are aware that the agreement between a borrower and a lender is legal and binding once they sign a contract. Be wary of loaners who offer you money without a contract. Stay clear of moneylenders who ask you to sign a blank or incomplete contract.

Check if the interest rates are reasonable

The law dictates the interest rates that borrowers are to pay for their loans. Starting October 1st 2015, moneylenders are required to charge a 4 per cent monthly interest rate that borrowers will settle on top of the principal amount.

Check the list of licensed moneylenders

When in doubt, go to the official website of the Ministry of Law in Singapore for a complete list of recognised and registered moneylenders. In some cases, the company might be new and the list may have yet to be updated, so call the Ministry to double-check.

Look for a physical office

Singaporean law requires that licensed moneylenders must operate in an actual office. The address of the moneylender must match the information on the website. The physical office must also be professional-looking and well-maintained. On the other hand, loan sharks would rather transact with you online.

Capital Funds Investments: The Premiere Licensed Moneylender in Singapore

Even if you’re in a tough financial situation, it doesn’t mean you should seek help from the first moneylender you find. With several loan sharks around, do your research to save yourself the stress and anxiety of dealing with unlicensed moneylenders.

Authorised by Singapore’s Ministry of Law, Capital Funds Investments provides fast and unsecured money loans to those who need it. Whether you need money to grow your business or tide you over during an emergency, we are here to help.

For enquiries, call us on (65) 6281 7736 or email enquiry@loancfi.com.

The “Multiples” Mistakes that Ruin Your Credit Score

Poor Credit Score Report

When faced with a financial emergency, your best bet for some relief is to turn to a licensed moneylender in Singapore. These institutions provide the funds you need to start a business, pay off a debt, or settle an unexpected bill. They offer a quick and painless application process, and they are often more lenient than banks.

The catch is that you need a good credit score for moneylenders to approve your application, whether it’s for a business, personal, or foreigner loan. In Singapore, a good credit score is your ticket to fast loan approvals, and you have to take care of it as early as today.
The Importance of Your Credit Score

Credit scores are like a grade from financial institutions in the country. They review your accounts and payment history from different banks and calculate a score. The higher your credit score (the highest rating is an AA, which corresponds to a numerical score between 1911 and 2000), the more confident moneylenders are that you will pay them back on time.

There are, however, many spending behaviours that would ruin your credit score — among them the fault of keeping multiples. These “multiples” mistakes might seem harmless, but they are red flags that banks and moneylenders look out for.

Applying for Multiple Loans

It’s alright to apply for several loans, but they should be scattered over a long period. Applying for one loan after another is a sign that your financial circumstances are not as rosy as they used to be. For instance, homebuyers in Singapore might apply for a personal loan to settle the down payment for a home loan, and so on.

Multiple, successive loans indicate a precarious financial situation. It shows you’re a riskier bet for moneylenders, so your credit score will likely dip.

As much as possible, do not apply for multiple small loans that might not be enough to cover everything. Instead, save up for one sizable loan that would cover all the foreseeable expenses. In these cases, foresight of expenses is key.

Having Multiple Open Credit Accounts

Credit accounts are necessary to establish a credit history, but too many open accounts are detrimental to your score. It shows that you owe several institutions money, and this might be a red flag for other moneylenders.

Even if you only owe small amounts on each account, the aggregate could still affect your credit score. For instance, owing small amounts across seven credit cards adds up to a sizable credit. So, keep your credit accounts to a minimum.

Some financial experts say two cards are enough (one as the main card, one for a back up and rewards). For people with larger expenditures, four cards are enough, but you have to take care not to max out each one.
Applying for Multiple Credit Card Applications

Similar to having several loans, applying for several credit cards shows that you might not be in a stable financial situation. This might hurt your credit score; financial institutions are hesitant to lend money to someone who suddenly applies for more than one credit card.

To preserve your credit score, apply for one credit card only. If you’re rejected, wait for a month before applying for another credit card.

You can always find out if your credit score needs to be remedied. Check your score at the Credit Bureau of Singapore. If your score is low, review the mistakes you might have committed and avoid repeating them.

If your credit score is healthy, and you’re planning to start your own business or pay off an emergency bill, turn to Capital Funds Investment, a Ministry of Law-approved and licensed moneylender that helps you achieve financial well-being.

Call us on (65) 6281 7736 or email us at enquiry@loancfi.com today. You can also send us a message here.

Be Careful Of Sharks: Why Legal Money Lenders Are Still The Better Option

Man Disputing Loan

Despite having limited land resources, Singapore has established itself as one of Asia’s most competitive economies. It has developed into a well-known financial centre and a growing wealth management hub. Singapore’s strong links with London as well as its effective economic policies have attracted businesses into investing in the country.

The emergence of Singapore as a wealth management hub has led to the establishment of numerous lending entities. The number of legal money lenders in Singapore has grown over the years. As of August 2019, there are 158 money lenders registered with Singapore’s Ministry of Law.

However, many people still choose to borrow money from loan sharks or unregistered money lenders because the process is easier. Loan sharks are lenient when it comes to requirements and they lend money faster than legal lenders. What borrowers don’t know is that they could be sinking themselves into horrendous debt when they borrow money from loan sharks.

High-interest rates

Loan sharks specifically design their payment schemes so that they can enjoy high levels of interest rates. These loan agreements do not take into consideration whether or not the borrower can pay on time. If the payment is set on a weekly basis and the borrower fails to pay, additional charges are incurred for late payments.

Unregulated

Unregistered lenders are not regulated by the government and they do not report their transactions to authorised credit agencies. It becomes difficult to find a course of redress if there are problems with your transactions.

Many loan sharks do not follow legal protocols and do not have the required licenses to operate. They have no legal records and are not bound by any legal agreement. So if you are a borrower with a bad credit history, you will still not be able to improve on your credit image even if you pay them on time.

A never-ending process of borrowing

Borrowing money from loan sharks can be attractive because it seems convenient. However, such convenience might get you trapped in a cycle of never-ending borrowing. You might be tempted to apply for a higher amount than what is needed just because it is readily available for you. And with online loan applications becoming available, it becomes easier and more accessible to those who desperately need the money.

Legal lenders are always the best option

It is always better to borrow money from legal lenders. True, the process is more stringent and it does require more time to actually receive the loan, but the process is there for the protection of the borrower as well as the lender.

Legal lenders are regulated by the law requiring them to report to credit agencies, so paying back a loan improves the credit rating of the borrower and improves their credit history. It is also the case that legal lenders are much more likely to give sound financial advice.

Capital Funds Investment is a trusted legal money lender in Singapore. Whether it is for business or personal purposes, we provide fast loans. Our loans are tailored to suit or clients requirements.

Need cash now?

Apply here to get a loan customised just for you. Contact us if you need more information about our services.

The Worst Debt Consolidation Mistakes to Avoid

Money Lender Handing Money

Debt consolidation is when you take out a loan in hopes of eliminating your other debts. It is rather paradoxical because you will acquire another debt in the process, but it can be highly effective when executed properly.

To find a legal money lender in Singapore and make the most out of this gamble, avoid these terrible mistakes:

Opting Not to Consolidate Debts Due to Bad Credit

A common error of individuals with bad credit is thinking that debt consolidation is not a viable option because of their situation. It may be hard to find a lender who is willing to extend you credit when your credentials say that you will likely default on your loan, but there are suitable financial products for you. Although they may come with high interest, they can surely help you reduce your overall indebtedness.

Applying for a Debt Consolidation Mortgage

Many deeply indebted individuals choose to refinance their mortgage to access extra cash to cover other debts with higher interest. Borrowing against your property again may work wonders, but it involves major long-term consequences.

Firstly, it will reset the clock of your mortgage, which means you will go back from the start and possibly offset the gains you have made after paying it for years. Secondly, you may expose yourself to a greater likelihood of foreclosure.

Shunning Credit Counselling Singapore

It is almost a crime to pursue debt consolidation without expert advice. Before you pull the trigger, you need a clear strategy and deep knowledge of all the options to make an informed decision. Otherwise, you may inadvertently dig yourself a deeper financial hole.

Credit Counselling Singapore, for instance, can assist you in speaking with lenders and breaking bad habits to prevent beginning a new cycle of indebtedness. Moreover, you may learn different best practices when it comes to debt consolidation.

Forgetting About Prepayment Penalties

Another rookie mistake is taking just the unpaid balances into account. If you have creditors that penalises prepayment, you may fail to obtain the necessary funds to settle your bills. Many lenders charge fees for extra payments to maximise the profit they could make out of the deal.

Review your existing loan contracts to find out whether you will be punished for paying your debts in advance. If there is a pre-payment penalty, include it in the equation to borrow adequate funds to cover it.

Deciding Not to Check the Moneylender Registry

When choosing a moneylender, it is best to check the Ministry of Law’s Registry of Moneylenders. This way, you can avoid dealing with an unlicensed lender. Companies in the illegal money lending business do not play by the rules and are usually guilty of abusive behaviour.

Debt consolidation has the potential to help you bounce back financially in the long run or put you in a worse situation. Do due diligence to calculate its risks and avoid mistakes that you may regret for a long time.

 

Be Your Own Boss: Becoming a Freelancer in Singapore

Laptop, Cellphone, Notepad and Coffee on Table

Freedom, flexibility and financial control. These are three common reasons why people want to ditch their full-time jobs and become freelancers.

In Singapore, the freelancing and self-employed community is slowly but steadily increasing. As of 2017, there are between 180,000 to 200,000 freelance and self-employed workers in the country, forming almost 10 percent of the workforce.

Singaporeans, particularly millennials, find freelancing an attractive career option for the same reasons as freelancers from other countries. Being self-employed means you work on your own terms, allowing for work-life balance. You can also work for multiple employers instead of one, increasing your income.

Starting a Freelancing Gig

The basic essence of freelancing is that you have a valuable skill, an audience willing to pay for it, a method of reaching your target audience and repeat clients. You can either make this business a full-time gig or use it to earn supplementary income.

You usually don’t need a license to freelance in Singapore, if you’re offering creative and development services. Usually, clients will only request to view a portfolio of your existing work. More specialised jobs such as real estate and insurance require you to apply for a license, which involves attending a mandatory course and passing a written examination.

Freelancing also involves putting your marketing and networking skills to the test. Ensure that your online profile is detailed – it should show your skills, achievements and portfolio. Go to your prospective clients and pitch to them your work and what sets you apart from other companies and freelancers. Make sure you deliver the work on time and ask clients for testimonials.

Financial Considerations

Income from freelance work is taxable under the Inland Revenue Authority of Singapore. You’re expected to pay your taxes in a lump sum for a 12-month given accounting period. Like regular businesses, you’re required file your taxes on April 15, and you have the option to file them in person or through the IRA’s official website.

Unlike when you’re under regular employment, freelancing involves handling employee benefits on your own. You have to continually contribute to your Medishield to cover medical treatment and hospitalisation expenses.

It’s tempting to become your own boss instead of being confined to a 9-to-5 job. However, freelancing has its challenges as well. Once you’re familiar with the fundamentals of creating your own business, you can focus on developing your skills and widening your network.

Give Your Freelancing Gig a Jump Start

Working on your own terms and being your own boss can be appealing, but being a freelancer comes with its own challenges. How can you start a gig when you need money for equipment, marketing and rent?

Capital Funds Investments provides you with urgent cash resources to give your freelancing job a head start. We firmly believe that no one should be restrained from starting their business because of a lack of opportunity to raise capital.

We are a licensed moneylender that provides a variety of easy and flexible loans to a large number of clients in Singapore. To apply for a loan, simply fill out our form and submit the necessary requirements. Our personal finance specialists will get in touch with you and find the right loan based on your needs.

We’ll take care of your financial needs. If you need assistance, send us an email on enquiry@loancfi.com.

Quitting Your Day Job To Start A Small Business

small business owner

At one point or another, people who have a 9-5 job daydream of quitting to take the risk of starting their own small businesses. The idea of earning from the comfort of your own home, being your own boss, and having complete control of your time sounds incredibly appealing. But a decision as big as walking away from a stable source of income needs to be carefully evaluated.

No matter how amazing your business idea is, remember that you can’t just impulsively hand in your resignation letter and leave everything behind.

If you’re already seriously thinking about it, here are things you need to consider first before you take the plunge.

Create a business plan

Launching your own business takes a lot of research, no matter how small it is. You need to know everything about the product or service you’re offering, from your marketing channels and down to your competitors.

Preparing a business plan before your launch is essential for the success of any business. It’s an overview of your upcoming business and will help you determine your strategies, objectives, and overall vision.

Secure your finances

If you don’t think your personal savings are enough to get you through, there are two options to consider.

First, you can find another income stream. Quitting your job will free up a lot of your time. While you will spend most of it for your start-up, you can use some of it to find another source of income. It can be an easy freelance work, or simply selling some of your stuff online.

For a more secure option, you can choose to get a personal loan from a reliable money lender to take care of your finances while you focus on your company.

Leave properly

Before you quit to start your own venture, make sure that you don’t cause any inconvenience for people you’re about to leave behind. You should make this transition as easy as possible and completing your final projects and training your possible replacement should be your top priorities.

Remember not to burn any bridges as these workmates you’re about to part from can be future customers or connections to potential clients for your business.

Get ready for the lifestyle change

managing a business

You should understand that walking away from your 9-5 job involves a lot of sacrifices. Now that your income is unstable and unpredictable, you may have to say goodbye to the certain luxuries such as night outs, impulsive purchases, and maybe even your gym subscription. You may have to accept that tightening up or being frugal is just being prudent when you’re in the early days of a new business.

Chasing your dreams means you have to be ready to give up some things, but these sacrifices will be worth it once you’ve reached your goal.

If you need assistance with your personal finances while you jumpstart your business in Singapore, Capital Funds Investment offers personal loans through a simple application process. Email us at enquiry@loancfi.com or call us on (65) 6281 7736 and our financial experts will get right back to you.

Surviving in Expensive Cities

Concept of coins and progressivecity

When choosing a new place to live in, most people dream of residing in a big and developed city. While the countryside offers a peaceful and scenic view, urban locations generally tend to offer more professional opportunities, a variety of social scenes, and the chance to redefine yourself.

However, one major downside of living in a developed city is the cost of living. While money could be a struggle anywhere you live, this is especially true for cities such as London, Singapore, Tokyo and any other major global city.

If you are going to relocate to the city or are new to one, here’s how to stretch your finances.

Don’t live alone

Sharing your space with someone significantly cuts down your living cost. Getting a roommate is the quickest way to cut your rent bill in half, including splitting the cost of utilities such as water, internet and electricity.

Of course, this is easier said than done and finding someone you feel comfortable with may require rigorous vetting and some luck. You can also consider living with two or more people in a larger space so you can save even more money.

Use public transportation

The public transportation of nearly every city has its drawbacks. However, using public transport is still one of the most effective ways to cut down your expenses. If you have the time and energy, riding the bike or walking to work can also be a great option.

Instead of driving your own car or hailing a cab, try riding the bus or taking the train. Just prepare yourself to be patient about the inconveniences public transportation can cause you.

Limit eating out

Living in a big and developed city means more temptation to eat out, party, and try new establishments. One of the main advantages of living in a big city is the culture and social scene. However, make it a point to evaluate if you’re already spending too much on food and drinks.

There’s no harm in treating yourself to a nice dinner once in a while, but don’t develop a habit of buying coffee every morning or getting drinks in a local bar after work. To cut down your expenses, buy groceries and cook for yourself or maybe start small and brew your own coffee every morning.

Ask for help

If you find yourself about to live in the city and need to set yourself up, you may need some financial help. Don’t be ashamed or afraid to ask for help, whether it’s from your family, friends or even a licensed moneylender. Just make sure to budget well in order to be able to pay it back right away.

If you live in Singapore and are in need of an injection of cash, whether it be for moving house or making a necessary purchase, Capital Funds Investment, the premier licensed moneylender in Singapore, offers personal loans. Email us at enquiry@loancfi.com or call us on (65) 6281 7736 and our financial experts will respond as soon as possible.

Beware of Loan Predators: Common Loan Shark Scams and How to Avoid Them

Woman handed the pen for signing in loan document

Many foreigners in Singapore find themselves strapped for cash from time to time, especially when they need money for medical emergencies or to pay their bills. These foreigners are in dire need of personal loans to settle their payables, and are, therefore, the most vulnerable to loan shark traps.

Some unlicensed money lenders or loan sharks in the state offer small loans with extremely high interest rates and hidden fees. Their tactics, in fact, have become brazen in recent years, with some targeting unsuspecting victims who have never done business with them directly. These loan sharks even threaten people with violence, charge them large interests, and cause millions of dollars in property damage.

As with all scams, the best defence is knowledge. So, let’s take a look at the common loan shark scams in Singapore and how you can avoid them.

1. The licensed moneylender impersonator

These tech-savvy Ah Longs advertise their ‘service’ through text messages, emails, SMS blasts, Whatsapp and other social media platforms. At first glance, they seem professional and legitimate, putting up a whole facade. Unknown to the common folk, they impersonate licensed moneylenders by using legitimate registration numbers from the Singaporean Monetary Authority. They use important credentials and information illegally, from the business name to the business address and registration number. Be wary when you receive offers about loan programs you never applied for, or be generally vigilant if you’re thinking of taking a loan.

2. The loan collector scam

This scam is pretty simple, but many still fall for it. The loan shark acquires the victim’s phone number and calls them, claiming that the victim has borrowed money and they are asking for repayments. In some cases, they bluff and make up stories, explaining that a third party has cheated the victim and that they are there to get the payment for the lending company.

If the victim refuses to pay, they threaten him/her with consequences, such as assault or vandalism to property. Some people who have borrowed money in the past fall prey to this tactic easily and immediately pay the scammer. If you have borrowed money in the past, call your lender or agent first and verify the call you received.

3. The fee transfer scam

The fee transfer scam is the most dangerous because the loan shark not only takes people’s money but also gains access to their personal information. The Ah Long will text or call the victim, claiming that they have been approved for a loan. The catch is that the victim needs to pay an admin fee before they can take the loan. The scammers will then trick the victim into giving them SingPass access, giving them the means to see personal and private information that they can later use to intimidate or harass the victim.

If they are successful, the loan sharks have scored a huge win. They not only receive the money transfer fee, but they also acquire personal information that they can use as leverage on their victims.

Other tell-tale signs of a loan shark include people who offer to do business without a signed contract. The law requires licenced moneylenders to use contracts for security and accountability. Loan sharks also offer huge sums of money to victims despite the victims’ relatively small incomes. Additionally, if they operate without an office and they’re not listed on the Ministry of Law’s website, they’re most likely illegal moneylenders who charge their victims with exploitative interest rates and fees.

Apply for a Foreigner Loan with Trusted Moneylender Capital Funds Investments

As a foreigner in Singapore, it can be difficult to find a financial institution you can trust to offer you a loan. Capital Funds Investment is Ministry of Law-approved and licensed. We provide foreigners in Singapore with a fair loan, and we never abuse the confidential information that we receive during the application process.

For more information regarding our CFI Foreigner Loan, call us on (65) 6281 7736 or send an email to enquiry@loancfi.com.

How to Receive Financing for Your e-Commerce Business

Paper cartons with a shopping cart

In recent years, Singapore has risen to become one of the most tech-savvy countries in Asia. The country has consistently placed in the top 10 of the Waseda-IAC International Digital Government Rankings which highlights countries that work towards fostering digital innovation in all sectors and industries. Singapore has evolved into a world-class technology hub that has a booming e-commerce industry that is only expected to grow in the coming years.

Just two years from now, Singapore is expected to have approximately 4.11 million e-commerce users. Revenue from the digital marketplace is anticipated to grow to 5 billion USD by 2021 with electronics as the leading product category. With technology continuing to evolve into an important tool in our everyday lives, small and medium-sized entrepreneurs (SMEs) are moving online to reach more people.

For most entrepreneurs, acquiring a business loan in Singapore is a challenge that is hard to overcome. However, it is imperative in order to further grow and develop the business. With the online retail boom showing no signs of stopping, securing funding for your online store gives you the opportunity to take advantage of this.

How to Get Financing

  • Improve Your Business Plan – Your business plan does not have to be complicated. The purpose of a business plan is to address the key factors, obstacles, and possible solutions to your business. In keeping it simple and straight to the point, you are giving yourself a clear look as to what you should focus your efforts on in order to improve your business. This will also help you decide how much you will need in funding and how to allocate it properly.
  • Provide Quality Products and/or Services – Part of ensuring the success of your business is providing your customers with high-quality products and/or services and sustaining this. Creating a strong customer base is making sure that they are happy with what they are purchasing from you. This, in turn, allows you to grow your business as it establishes a reputation centred on quality and consistency which fosters trust and loyalty.
  • Set Realistic Goals – There is nothing wrong with dreaming big for your business. However, setting realistic short term goals allows you to focus on the areas that need the most attention. For new businesses, problem points are common and numerous. In choosing to address these, you are lessening potential troubles your business may face in the future. It also gives you a clearer picture of how much funding you will need.

Where to Get Financing

These days, there is no shortage of where to get funding for your online business. However, not all of them are compatible with your needs. In assessing your business and what it will need financially, you can make an informed decision on where to get funding.

  • Personal Savings – This is a popular choice for SMEs as it has fewer complications than other options. Aside from the absence of elaborate applications and high-interest rates, there is also the advantage of keeping your business solely yours. However, this option does present the drawback of significantly denting your savings or retirement fund.
  • Credit Cards – This is a viable option if you have several credit cards. While this gives you the freedom of still using your own money without having to sacrifice your savings, there are plenty of problems that might arise along the way. One of these is when your interest rates are high and your revenue only allows you to make the minimum payments.
  • Licensed Moneylender – A licensed moneylender often tends to favour SMEs over bigger companies. In Singapore’s highly competitive market, this option gives you the chance to get a loan that will help you with your business. Capital Funds Investments is meeting this demand by giving Singaporean SMEs business loans that will sustain the growth and development of your online business.

Capital Funds Investment understands the important role SMEs, particularly those working with the e-commerce model, play in the country’s economy. That is why we offer quick and easy financial solutions that are aimed at supporting and sustaining small and medium business ventures. We work closely with clients to find the best solution for their needs.

For more information about Capital Funds Investment and our business loans, call us on (65) 6281 7736 or send us an email at enquiry@loancfi.com.