Power Credit Enterprise Pte Ltd

Personal Loans

Unforeseen spending or bills leaves us in in financial mayhem, and this is exactly where Power Credit can help relieve your financial burdens. We provide government licensed lending in Singapore for a wide array of urgent needs, whether it is paying your gas bill or a medical bill. Power Credit is your one stop source for quick personal loans, whenever you need that outreached hand.

We introduce to you our personal loan. This loan is highly suitable for customers who want to obtain a small to medium sized loan. These loan packages are custom created to meet to all your financial needs easily.

Why is the Personal Loan from Power Credit the ideal choice?

Obtaining a loan from Power Credit is convenient and not time consuming at all. We will not put your through the hassle of long form applications, the process is fuss-free, you simply fill in a few shorts forms and you can have your funds in that same hour. We do not discriminate borrower profiles, all clients are welcome to enjoy our services. The thing that sets us above the other lenders is that we know how quickly and urgently you require the money, and above all else, we do our best to meet your stringent requirements time and again. Our loan is:

Simple to apply for

  • Quick to disburse – (in the same hour)
  • Transparent – we ensure that borrowers know of all terms and understand them well
  • Fair to all, no discrimination
  • Absolutely no hidden clauses

Should you get a personal loan as an entrepreneur

When you are starting out as an entrepreneur or when your business is short on cash, you may be looking for a source of capital or cheque to tide you over until you start to see a profit. Banks may be reluctant or unwilling to lend you a small business loan, and it can take a really long time to get your loan approved. So instead, some people have turned to personal loans to finance their startups.

It makes sense and it’s practical for an entrepreneur. After all, getting a personal loan from a personal loans Singapore company is fast, simple, and safe. Compared to banks who first require you to present a concrete business plan. Whether you’re looking for a short-term bridge loan or a long-term commitment, it makes sense to consider personal loans as a way to finance your business.

But is this really a good way of funding your business? Let’s discuss the advantages and disadvantages to consider before moving forward.

Advantages of getting a personal loan for your business

A personal loan could be a good option for young entrepreneurs who are just starting out because it’s much easier to secure than a small business loan from a bank. Personal loans don’t require anything but your personal information to get approved for the money. This makes them easier to get than other types of loans, especially if you only need a small amount and plan on paying it back gradually over time as you start to make sales.

On the other hand, banks often have rigorous requirements for loans made to small and medium-sized enterprises; in many cases, you won’t be able to get a loan without a business plan and financial statements. This can be difficult for startups, which may not have those things yet and need only a small amount of money.

Personal loans are faster to apply for and obtain than business loans. Once you apply, you will quickly be approved for a loan and the money you need will be deposited in your bank within mere hours. Meanwhile, banks can take up to two weeks to process an application for a business loan.

If you’re running a small business, this can be a serious issue. You may have clients who expect to receive payments for their services by a specific date, and if you fail to pay them on time, they may stop doing business with you altogether. That means lost revenue and a loss of credibility with potential future clients as well. On top of that, if you have a large number of expenses that aren’t related to payroll or operating costs, then you may find yourself falling behind on payments.

To avoid falling behind on payments, consider getting a loan from a reliable personal loans Singapore company that can provide fast cash. This efficient service gives you peace of mind on top of much-needed capital injection to run your company smoothly.

Disadvantages of getting a personal loan for your business

Personal loans can help your business in meaningful ways, but they also have their own shortcomings. First, while personal loans may be a viable option for your business, keep in mind that they tend to have higher interest rates compared to local banks. Of course, there are also plenty of exceptions where the personal loans Singapore company provides a much steeper discount.

Second, you should know that personal loans are not the same as business loans. Personal loans will be recorded on your credit history and may affect other aspects of your personal life. In contrast, a business loan can only be made to your company. Defaulting on a loan could put your company out of business, but it protects your personal assets.

Another potential drawback is that most personal loans come with a lower borrowing limit compared to business loans who will offer a lot more.

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6 Reasons Why We Are One Of The Top Moneylenders

1. Quick Loans

Upon loan approval and agreement signed, we will provide you cash on the spot. Remember to bring along the required documents such as your NRIC/FIN card, Payslip, etc.

2. Friendly Service

Our loan assistants are friendly and knowledgeable in the field of money lending and will be able to advise you how to go about getting your loan. We will analyze your needs and because each of our clients needs are different and diverse, there are absolutely no obligations!

3. Flexible Repayment Scheme

Yes, in case you have problems repaying your loan on time, contact us and we will be able to work out an alternative repayment scheme on your loan. Be it a personal loan, a payday loan, business loan or fast cash, we have solutions for every need at your disposal!

4. Your Privacy is Assured

At 1AP Capital, your personal loan privacy is assured. All details will be kept confidential and with our secure database system, your details will never be divulged to 3rd party unless required by law.

5. Quick Cash Loans

When you have a financial emergency, we appreciate you need a quick solution. Out fast cash loans are disbursed to you once the loan is approved, and they are tailor-made to suit your needs.

6. Simple Processing

To access our loan packages, we need an NRIC copy or a valid work permit for foreigners, proof of income, and proof of residence. For business loans, more documents are required including NRIC copies for all partners, tenancy agreement for the company premises, and proof of assets, P&L statement, bank statements and current ACRA printout.

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