Just to check is your company is PTe Ltd?Tkspennant wrote:note, NEW start up..
all loans i've came acrosss needs me to provide 2yrs of income tax...
i've started a new company, wonder where can i get loans?
Actually a little off key here, for spring funding, you probably need to fall into the manufacturing industry rather than service, orientated, it more likely to be a case of development technology businesses, of bio-chem, or another field, that will quickly expand under the supervision of a business development planner, who would normally evaluate your idea's from risk assessment.E-T wrote:Your top choice will be...
1. Family/Friends
2. Angel investors.
As much as SPRING or most fundings are concerned, their definition of "Startups" and ours differ. I have never heard of any company that is under 2 years old that actually secured fundings from SPRING. Maybe there are a very tiny fraction around. With the network forged between the VCs, Banks and SPRING, the options available to Startups are being monopolized. (Which is why I often ridicule the proclaimed "enterprise-spirit" here in Singapore)
You didn't state your nature of business. Singapore is bitten by the technology bug and obviously didn't learn from the dot-com bubble. If you're in the service industry and such, be prepared for 5 times to 10 times the hardship when trying to secure funds.
Most funds available these days are only applicable to IT infrastructure.
Curious as to your experience with this SMS. The qualifying criteria on the Spring site sound rather straight forward if a little vague. At the banks though, the same old "you need to show x years of accounts, etc etc" comes up. Is it your long service award ang moh charm or have people simply been running into idiots?sundaymorningstaple wrote:Another option with Spring & your local banks is the Micro-loan from Spring. I've used this option with 5 different companies now over the past couple of years.
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