If you have a high credit score, you will have a pretty easy time getting credit offers from a wide variety of funding sources to expand your business. If your score is low or nonexistent, however, you won’t.

By: Hitesh Khan/

But a low score isn’t something you can run away from, and even if you avoid it, it won’t go away. The trick is to fund your business in ways that actually get your score back on track so when you’re ready to move your business to the next stage, your score will start opening doors rather than getting them slammed in your face.

Here are some ideas for entrepreneurs who want to achieve high credit score:

1. Look beyond credit cards and bank loans for financing. Studies show that credit card and bank financing account for just 25 percent of the total funding needs of early-stage entrepreneurs. This statistic should provide you some comfort, because it implies that 75 per cent of the money you need can come from other sources that rely less high credit score.

While there are credit cards and lending programs designed for individuals with poor credit, these options will typically charge a higher interest rate to compensate for the credit risk posed by a sub-prime borrower. One bank option for those with poor credit scores is a home equity line of credit, though you should be wary of putting your home on the line to finance a risky early-stage venture.

2. Seek personal loans from your relatives and friends. Everyone likes the idea of entrepreneurship, which may be why, at some point, more than 50 per cent of all business owners get financing help from friends and relatives. Chances are, your relatives and friends want to see you succeed and may be able to help make your business dream a reality.

They also may not dwell on your poor credit score because they trust you, or they believe your business concept to be sound. (Banks used to evaluate your character and business conditions the way family and friends still do, but credit scoring models have made lending decisions more automated, resulting in the critical power your credit score holds over you.)

Also, you can now use private personal loans from relatives, friends and business associates to rebuild your high credit score.

Small business loans – 8 myths and facts about them

3. Investigate licensed moneylenders. There are several nonbank lenders  that offer loans to entrepreneurs. These personal loans are typically in the $1,000 to $35,000 range. Some of these sites are excellent sources of capital for those with poor credit and will also report your payments to credit bureaus which can help correct your credit score if you make timely payments. Be sure to shop around and compare rates since each lender offers a twist on how they price personal loans and spread risk to their lenders/investors.

For a borrower who don’t have high credit score, the interest rates on loans from these sources will tend to be high. But if you’re accustomed to credit-card-level interest rates, these rates may seem affordable, but remember this: You can make partial payments on credit card debt whereas installment loan agreements may restrict you from making partial payments.

There may be some licensed moneylenders who may be able to offer more flexible terms; since they’re small, they may not have a website or web-based loan application form, however, and may be hard to find. For some business owners, flexibility of repayment is more important than getting a slightly lower rate.

Urgent loans can help you overcome short term hurdles

4. Don’t overlook gifts and grants. If you need to avoid making debt payments, focus on getting “free” money in the form of gifts and grants. Your search will be long and hard–despite what you read on the internet, there is no silver bullet here. Be wary of services that promise to locate government or private grant programs for you. If you want to avoid scams, you will need to do your homework to locate programs that are available for your type of business.

Health-care businesses, technology companies, and retail businesses in low-income areas tend to qualify for the bulk of grant money. Other forms of “free” money include gifts from relatives, free office space from former employers, and free services from friends or business associates. If you’re creative, you can reduce your startup costs by brainstorming a list of people who would be willing to provide you with gifts and subsidised personal loans.

How to Secure a Personal Loans Quickly

If you have limited capital and are searching for personal loans to expand your business, the loan consultants at iCompareLoan can set you up on a path that can get you a it in a quick and seamless manner. Our loan consultants have close links with the best lenders in town and can help you compare various loans and settle for a package that best suits your needs. Find out money saving tips here.

Our Affordability Tools help you make better property buying decisions. iCompareLoan Calculators help you ascertain the fair value of a property and find properties below market value in Singapore.

If you are looking for a new home loan or to refinance, our Mortgage brokers can help you get everything right from calculating mortgage repayment, comparing interest rates all through to securing the best home loans in Singapore. And the good thing is that all our services are free of charge. So it’s all worth it to secure a loan through us for your business expansion needs.

Contact us for advice on a new home loan.

Contact us for home loan or refinancing advice.

The post High credit score will offer you a wide variety of loan options appeared first on iCompareLoan Resources.

Casa Sophia, a District 9 freehold development along Sophia Road, has reduced their reserve price by $6 million in a bid to try and secure a collective sale. The owners of Casa Sophia has previously put up the site for en bloc sale on the heels of the property cooling measures in July.

Image credit: ERA

The Collective Sale Committee of Casa Sophia had previously listed their reserve price as $36 million.

The site’s exclusive marketing agent ERA Realty Network said that the 12-unit property was relaunched for collective sale by private treaty, after most of the owners agreed to a lower asking price of $30 million or $1,158 psf per plot ratio (psf ppr).

Located in an exclusive locale, the District 9 freehold, 12-unit development sits on 12,327.9 sq ft of land and consists of only three-bedroom units measuring 1,152 to 1,453 sq ft each. Under the Master Plan 2014, the site is zoned “residential” with a gross plot ratio of 2.1. It can be rebuilt into an estimated 34 units at 753 sq ft per unit.

Located in District 9, Casa Sophia is 350 metres away from Dhoby Ghaut MRT station. It is also near reputable educational institutions such as Saint Margaret’s Primary School, Nanyang Academy of Fine Arts, LASALLE College of the Arts, School of the Arts Singapore and Singapore Management University.

“It wasn’t an easy decision for the owners as many of the them lived here since the project was built, but with costs of maintenance increasing due to the age of the building, they felt that it is time. They understood the current market sentiment, hence the decision for the second attempt with a lowered asking price,” said ERA representative Tjhai Citanegara.

“There were a couple of offers that came in during the initial attempt. With its locality and reasonable asking price, we expect stronger interest after the reduction,” he added.

New property curbs challenged by leading developers

The initial en bloc sale attempt of Casa Sophia happened just a few days after the Government announced new property cooling measures for private residential market.

En Bloc Sales Process Singapore – A Definitive Step-by-step Guide

The Government said the new property cooling measures were necessary to check sharp increase in prices, which could run ahead of economic fundamentals and raise the risk of a destabilising correction later, especially with rising interest rates and the strong pipeline of housing supply.

Some observers said that the en bloc sales market will be dampened by the cooling measures. As developers become wary of end-demand and are hurt by the 5 per cent non-remittable Additional Buyers’ Stamp Duty (ABSD) on land purchase, it is expected to have an impact on their offer prices.

Before the introduction of the property cooling measures, overall private property prices rose across most market segments, with the largest price surge seen in the Core Central Region (5.5%) and Outside of Central Region (5.6%).

As developers’ existing stock continues to diminish and supply of completed homes remain low, many projects especially those in the CCR have raised prices of their unsold units, some by even double-digits this year. Private residential market continued to gain traction with individual re-sellers have also seized the opportunity of increasing their asking prices in light of the more positive market sentiment fueled by the recent collective sales frenzy.

The higher launch prices at some new projects have however slowed the buying momentum in the primary market and sales volume has dipped considerably quarter-on-quarter. While overall sales had slipped quarter-on-quarter, it rose marginally on a year-on-year basis.

How the collective sale attempts of properties like Casa Sophia do, will determine if the Government’s new cooling measures will have a chilling effect in the property market.

Mr Paul Ho, the chief mortgage officer at iCompareLoan said, “the the collective sale attempt of Casa Sophia has been given an impetus with the owners agreeing to reduce the reserve price.”

He added: “Whatever decisions owners facing en bloc sale make, it is better to make it fast so that the sale (or non-sale) can be concluded with minimal delay and maximum benefit to the owners.”

One way is to conduct a Collective Sales Agreement (CSA) as well as concurrently collect a “Non Collective Sales Agreement (NCSA)”, so that once a NCSA reaches 20%, the collective sale process is called off. There is really no point to drag on.

Mr Ho suggested that if one’s home is at risk of en bloc, the owner could consider a home loan where there is no locked-in penalty, but instead entails a higher housing interest rate cost. The next best option is to look for packages with a waiver of locked-in penalty due to sale of property. Such owners may contact a mortgage broker to assist them to find such packages with waiver of locked-in penalty.

How to Secure a Home Loan Quickly

Are you planning to invest in properties like the collective sale relaunch site but ensure of funds availability for purchase? Don’t worry because iCompareLoan mortgage broker can set you up on a path that can get you a home loan in a quick and seamless manner.

Our brokers have close links with the best lenders in town and can help you compare Singapore home loans and settle for a package that best suits your home purchase needs. Find out money saving tips here.

Whether you are looking for a new home loan or to refinance, the Mortgage broker can help you get everything right from calculating mortgage repayment, comparing interest rates all through to securing the best home loans in Singapore. And the good thing is that all our services are free of charge. So it’s all worth it to secure a loan through us.

For advice on a new home loan.

For refinancing advice.

The post Casa Sophia reduces reserve price by $6m in bid to secure collective sale appeared first on iCompareLoan Resources.

Braddell View estate en bloc sale at a glance:

• Prominently located on elevated land near pristine nature reserve
• Stone’s throw from renowned schools and close to multiple MRT stations
• Sprawling site presents developers with an opportunity to create a distinctive residential icon in Central Singapore

Colliers International announced that Braddell View estate – Singapore’s largest private residential site – will be put up for collective sale via public tender on 27 March 2019.

This comes after owners of 80 per cent of Braddell View estate – by both share value and strata area – have agreed to put the development on the market.

The owners’ reserve price of $2.08 billion translates to a land rate of $1,199 per square foot per plot ratio (psf ppr), inclusive of the differential premium to intensify land use and to top up the lease to a fresh 99 years which is estimated at $795.1 million. The Braddell View site has a lease tenure of about 102 years with effect from 1 February 1978.

Image credit: Colliers International

Braddell View, a former Housing and Urban Development Company (HUDC) estate, was privatised in 2017 and sits on a sprawling hilltop site spanning 106,121.1 sq m (approximately 1,142,276 sq ft). The redevelopment site comprises two separate land lots: Lot 4487X (57,434.7 sq m or about 618,221 sq ft) and Lot 4490X (48,686.4 sq m or about 524,055 sq ft).

The development in Braddell Hill – comprising 918 units of apartments, maisonettes and penthouses as well as two shops – is the largest of the 18 HUDC estates in Singapore.

Ms. Tang Wei Leng, Managing Director at Colliers International, said, “Given that this is a sizable development, it is likely to see interest coming from a consortium of developers. We expect interested parties to conduct extensive due diligence on the site and we will do our best to gather as much information as we can to help prospective tenderers assess the merits of the plot, as well as minimise potential risks and lower the level of uncertainty. In the coming weeks, we will be engaging the authorities to seek more clarity on traffic impact study, the feasibility of a phased redevelopment of the site, and even explore the possibly of selling the site as two separate plots.”

En Bloc Sales Process Singapore – A Definitive Step-by-step Guide

Perched on large elevated grounds overlooking tranquil nature sanctuary, Braddell View estate is close to a range of amenities such as the Mount Alvernia Hospital, the healthcare hub in Novena, and renowned schools including Marymount Convent School, Raffles Institution, Raffles Junior College, Catholic High School, CHIJ Secondary (Toa Payoh), and Raffles Girls’ School, which is expected to be completed at the end of 2019.

Ms. Tang added, “This site has all the makings of a great residential estate, with its prime location on raised land in the heart of Central Singapore, generous land area, as well as proximity to top schools, healthcare facilities and several MRT stations. It is also within walking distance to MacRitchie Reservoir Park – a gateway to Singapore’s lush nature reserves. These excellent attributes make the Braddell View site stand out from the rest and will present developers with an opportunity to create a signature project that will elevate their profile throughout the region.”

The redevelopment site enjoys excellent connectivity, with easy access to the Pan Island Expressway and Central Expressway. It is well-served by three surrounding MRT stations: the Braddell MRT on the North-South Line; and the Marymount and Caldecott MRT stations on the Circle Line. Come 2020, the Caldecott MRT station will be connected to the new Thomson-East Coast line, providing even greater accessibility to the northern and eastern parts of Singapore.

Good property agents – qualities to look for

In addition, the upcoming North-South Corridor (NSC) near the Braddell View site will further improve accessibility and also help to reduce travelling time to the city when it is completed around 2026. The NSC is Singapore’s first integrated transport corridor featuring vehicular expressways, continuous bus lanes and cycling trunk routes.

Mr. Alex Teo, Chairman of the Braddell View Collective Sale Committee, said, “Having acquired the 80% consensus to take the collective sale process forward is a key milestone in our en bloc sale journey. We started the signing process a year ago and we knew then that it would not be an easy task given the large number of owners in the estate. I am heartened that owners have been open-minded, engaged and committed throughout the entire signing process, cognizant of the fact that the estate is ageing and in need of rejuvenation.”

The sizes of residential units at Braddell View range between 135 sq m and 313 sq m (about 1,453 sq ft and 3,369 sq ft). Depending on the size of their property, the owners of residential units stand to receive between $2.04 million and $4.03 million each upon the successful sale of the development. Meanwhile, owners of the commercial shops, which span 18 sq m and 48 sq m (194 sq ft and 517 sq ft), could receive about $529,500 and $1.2 million respectively.

Under the Master Plan 2014, the Braddell View site is zoned Residential with a Gross Plot Ratio of 2.1 and will have a proposed total Gross Floor Area of 222,854.3 sq m (approximately 2,398,781 sq ft). Subject to approval from the relevant authorities, Colliers estimates that up to 2,620 new residential units with an average size of 85 sq m (approximately 915 sq ft) could be built on the site, subject to Pre-Application Feasibility Study approval.

The tender for Braddell View estate will close at 3 pm on 28 May 2019.

How to Secure a Home Loan Quickly

Are you planning to invest in private properties but ensure of funds availability for purchase? Don’t worry because iCompareLoan mortgage broker can set you up on a path that can get you a home loan in a quick and seamless manner.

Our brokers have close links with the best lenders in town and can help you compare Singapore home loans and settle for a package that best suits your home purchase needs. Find out money saving tips here.

Whether you are looking for a new home loan or to refinance, the Mortgage broker can help you get everything right from calculating mortgage repayment, comparing interest rates all through to securing the best home loans in Singapore. And the good thing is that all our services are free of charge. So it’s all worth it to secure a loan through us.

For advice on a new home loan.

For refinancing advice.

The post Braddell View estate to be put up for collective sale for $2.08 billion appeared first on iCompareLoan Resources.

Lack of capital and inadequate record-keeping are major causes of business failure.

By: Hitesh Khan/

Businesses which have lack of capital are doomed from get-go!

Sound entrepreneurs must know not only how much money they need to start the project but also how much working capital will need to carry them through the first months of operation.

Every day, bankers see people who want a business loan for the “opportunity of a life-time” that “just can’t fail.” These want-to-be entrepreneurs usually attempt to explain their notion orally, and have not done the necessary research to determine the feasibility of the idea.

In order to be taken seriously about your business loan, it is imperative to write a formal business plan. When a banker analyses a business loan application he/she looks at the “eight C’s of lending:”

• Credit – It must be good, not necessarily perfect
• Collateral – Something of value to secure the loan
• Cash Flow – Ability of the business to repay the loan from operations
• Capacity – Your personal ability to repay
• Capital – Your cash investment or down payment
• Character – Yours!
• Conditions – Anything that can affect your business (industry, economy, etc.)
• Commitment – Your will to succeed

If you have lack of capital to grow your business and are approaching a bank for loan, each one of these items must be addressed in the business plan.

Business expansion loans could be the lifeline to increase revenues

If you walk into the banker’s office with a plan in hand, you have made the first step in separating yourself from the pack. If you have lack of capital and are looking to the bank for help, these are the 6 factors who have to be mindful of:

1. You will need good credit. If there are any problems on the report that can be remedied before meeting with a banker, do so. A lender may be able to make exceptions if you can document that a negative report was due to circumstances beyond your control. Include a detailed written explanation with supporting information in your financing proposal. However, if the report shows that you are irresponsible and you have not demonstrated a willingness to repay obligations, the lender will be unable to make a loan.
2. There is no such thing as 100% financing. You are going to have to put some money into the business and the more you do, the better chance you will receive loan approval..
3. A bank will require you to personally guarantee the loan even if you are incorporated. There is no way to avoid putting personal collateral at risk. If necessary this could include your house.
4. Some businesses are easier to finance than others. Since over 60% of all small business start-ups fail within 5 years, lenders know that the odds are against a new business being around long enough to repay a loan. An existing business is easier to finance if profits are sufficient to repay the loan. Also, many sellers are willing to hold some of the financing. Franchises are generally easier to finance than independent start-up businesses.
5. The process is not quick. If you must have the money to open by a certain date, make your loan application as far in advance as possible.
6. There is no such thing as a grant. We have never heard about anyone – anywhere – who got free money from the government to open any type of for-profit business.

Business financing requires full and thorough preparation

Those who have lack of capital, basically need two types of funding:

1. Start-up Capital

Start-up capital is the money you need to spend before the business opens. The amount varies widely depending on the type of business. Some examples include:

• Seed money – research and planning (usually for high-tech businesses)
• Security deposits for a lease, utilities, etc.
• Construction, renovations, signs
• Equipment, tools, office equipment, etc.
• Inventory
• Labor – hiring and training staff before opening
• Legal and accounting fees

2. Working Capital

Working capital is the money needed for day-to-day business expenses. You must have enough working capital available to pay all your bills until the business becomes cash flow positive and can support itself. This can take from several months to several years. After you complete your pro forma monthly cash flow projections you will have a very good estimate of the amount of working capital you will need. Allow extra for unexpected things. If you have just enough money to get started but not enough to properly operate the business, you may be doomed from the start.

How to Secure a Business Expansion Loan Quickly

If you are searching for a business expansion loan, the loan consultants at iCompareLoan can set you up on a path that can get you a it in a quick and seamless manner. Our loan consultants have close links with the best lenders in town and can help you compare various loans and settle for a package that best suits your needs. Find out money saving tips here.

Our Affordability Tools help you make better property buying decisions. iCompareLoan Calculators help you ascertain the fair value of a property and find properties below market value in Singapore.

If you are looking for a new home loan or to refinance, our Mortgage brokers can help you get everything right from calculating mortgage repayment, comparing interest rates all through to securing the best home loans in Singapore. And the good thing is that all our services are free of charge. So it’s all worth it to secure a loan through us for your business expansion needs.

Contact us for advice on a new home loan.

Contact us for home loan or refinancing advice.

The post Lack of capital major causes of business failure appeared first on iCompareLoan Resources.

Validus Capital (Validus), Singapore’s leading P2P lending platform, has successfully raised US$15.2 million (S$20.5 million) in an oversubscribed Series B funding round.

Investment in Validus’ Series B round was led by FMO, Netherlands’ public-private development bank. FMO has over 300 investments in banking and financial services institutions (BFSIs). Its investment in Validus marked FMO’s first fintech investment in Southeast Asia, a region which saw over US$5.7 billion in fintech investments in 2017 according to KPMG.

Participating investors also include Taiwan’s Cathay Financial Holdings, Singapore’s Openspace Ventures (previously NSI Ventures), Temasek investment arm Vertex Ventures, Thailand’s AddVentures by SCG and Vietnam’s VinaCapital Ventures.

Founded in 2015 in Singapore, Validus brings together accredited individual and institutional lenders and SMEs. It obtained its CMS license from MAS in December 2017.

Since then, Validus has successfully topped US$133.1 million (S$180 million) in business funding – a record for P2P lending platforms in Singapore.

Ajit Raikar, Chief Executive Officer and Co-Founder, Validus Capital expressed his confidence in the company’s future and talks about the strong global interest in Validus’ Series B fundraising, “Southeast Asia is one of the fastest growing economic regions globally, where there is a clear need for alternative financing platforms such as Validus to complement the traditional banking and financial infrastructures.

Having a strong team, technology and data science capabilities has allowed us to partner with strategic global investors for our next growth stage. This reaffirms that we are well on track to deliver on our strong growth forecasts, and our ambition to become a digital ‘bank-like’ fintech for underserved SMEs is well supported with two leading sovereign funds investing into Validus.”

According to Deloitte, SMEs contribute around 40 per cent of Southeast Asia’s gross domestic product (GDP) and employ 70 per cent of the region’s workforce. Despite the importance of SMEs regionally, support is generally lacking, particularly in terms of business financing. McKinsey Global Institute reported that 39 million Southeast Asian SMEs (or 51 per cent) lack access to credit.

P2P Lending has emerged as a popular alternative financing option for SMEs in Southeast Asia to service this unmet business financing gap.

Per EY, around 68 per cent of the region’s SMEs are receptive to tap into alternative financing options, including P2P Lending.

“Validus is particularly well-positioned to lead the P2P Lending industry’s change in Southeast Asia and spearhead financial inclusion among the unbanked and underserved businesses in the Region in a more digital way. Their planned expansion to Indonesia and Vietnam will strongly contribute to job creation by SMEs in these countries. We are excited to embark on this digital journey with Validus and their very strong shareholder base, as they continue on their steady and sustainable growth trajectory,” said Linda Broekhuizen, Chief Investment Officer, FMO.

With fresh funding, Validus is looking to invest heavily in technology innovation, particularly around artificial intelligence and machine learning to help make business financing even more convenient and safe for SMEs. It will also fund their Southeast Asia expansion, starting with Indonesia this year, followed by Vietnam.

Nikhilesh Goel Co-Founder and Chief Operating Officer at Validus Capital, whose background is in private equity shared, “Our strategic approach in fundraising goes deep beyond the size of the investment. We look for partners who share our vision in driving inclusive growth in the region, who are able to offer the value-add and guidance needed.”

He added: “The strong partnerships we’ve built with our investors will not only help us to strengthen our technology and regional expansion but also provide the deep-seated connections and valuable advice across areas like business development, capital funding and recruitment, areas which are vital for the growth of the company.”

Over the past year, Validus has enjoyed a tremendous series of successes where it has become Singapore’s top SME P2P Lending platform. Two new products were introduced, namely Working Capital Financing and Purchase Order Financing. It experienced exponential growth in terms of loans where almost 2,000 loans were disbursed in 2018, representing a 260 per cent increase year-on-year (y-o-y) while disbursement volume increased 350 per cent y-o-y.

Overall, over 300,000 Singaporeans were directly and indirectly positively impacted with the Validus platform and their growth numbers forecast a direct impact to the country’s gross domestic product. Manned by an experienced SME lending team that looks beyond financial data, into behavioural patterns, Validus continues to be a beacon of support to growing SMEs across Southeast Asia.

How to Secure a Business Expansion Loan Quickly

If you are searching for a business expansion loan, the loan consultants at iCompareLoan can set you up on a path that can get you a it in a quick and seamless manner. Our loan consultants have close links with the best lenders in town and can help you compare various loans and settle for a package that best suits your needs. Find out money saving tips here.

Our Affordability Tools help you make better property buying decisions. iCompareLoan Calculators help you ascertain the fair value of a property and find properties below market value in Singapore.

If you are looking for a new home loan or to refinance, our Mortgage brokers can help you get everything right from calculating mortgage repayment, comparing interest rates all through to securing the best home loans in Singapore. And the good thing is that all our services are free of charge. So it’s all worth it to secure a loan through us for your business expansion needs.

Contact us for advice on a new home loan.

Contact us for home loan or refinancing advice.

The post P2P lending platform Validus Capital raises $20m to boost SME growth in SEA appeared first on iCompareLoan Resources.

Treasure at Tampines drew a strong crowd of close to 7,000 people by Sunday night since it opened its sales gallery to the public last Friday (March 15). Responding to the encouraging turnout over the weekend, developer Sim Lian Group said that it has decided to bring forward the sales launch to 23 March.

Image credit: Faustina Julianna Lim FB

With 2,203 units, Treasure at Tampines is the biggest project launch of 2019.

The site area, which spans 11 football fields, contains 29 twelve-storey blocks. The indicative average selling price is said to be $1,280 per square feet. The project is a redevelopment of the former 560-unit, privatised HUDC estate, Tampines Court. Sim Lian had purchased the site en bloc in August 2017 for $970 million ($676 psf per plot ratio).

The developer, Sim Lian Group, is a real estate and architecture group which has been providing families and individuals in Singapore with amazing housing, and communities for well over 40 year. The property investment and construction group revealed their newest property in Tampines with many luxurious features and unique characteristics which they promise will leave leave home buyers in awe at the beauty and sophistication of this high end residential property.

The newest property launch, Treasure at Tampines, is situated on the former Tampines court, Tampines street 11 with around 2,203 luxurious, high end residential units available for customers to enjoy as soon as possible. The 2,203 units are spread over 29 blocks of 12 stories each, featuring state of the art construction materials, amazing modern architecture and a great, intuitive urban design to make sure the residents enjoy a busy, exciting and luxurious lifestyle with both family and friends.

Treasure at Tampines will also feature shuttle buses to help residents reach their destinations with ease and comfort, also the Tampines condo is quite close to Simei M.R.T station and can be reached pretty quickly on foot.

The 648,889 sqf residential project is immaculately designed by Design link architects and developed by Sim Liam group, with a promise of a luxurious, and sophisticated lifestyle for all owners and community members. There several reason why treasure at Tampines should be your next real estate purchase and investment.

Future community development and long term urban power: The project is located on Tampines street 11 and is situated between several future landmarks that are bound to boost and rejuvenate the neighborhood in the near future. Projects include the anticipated jewel of Changi Business-Park, Changi Development-Project, And Tampines Industrial-Park. These aforementioned projects are bound to turn Treasure at Tampines into a future capital.

Proximity to several key locations: In addition to the future landmarks, the property is situated near century square, and is a short drive to Tampines hub and Mall, as well as East point mall. The project is developed in the key suburban areas of Tampines, and covers an area equivalent to 11 football fields that is surrounded by many recreational and commercial opportunities.

Several convenient properties and mixed use estate: Since this new property launch is located within the heart of Tampines and in close proximity to Simei MRT, residents and future owners can enjoy the hundreds of department stores, shops, restaurants and other conveniences around Treasure at Tampines.

Such an opportunity is too good to let pass by, and show rooms for properties are now accessible to the public and potential Treasure at Tampines residents. Registration has opened on the website and interested clients can book a showing for any of the properties available, also floor plans and residential layouts are accessible on the website.

Steven Tan, managing director of OrangeTee & Tie (which is jointly marketing the project with ERA Realty Network and PropNex), said: “Buoyed by the attractive indicative selling prices, potential home buyers and investors turned up at the show flat of Treasure at Tampines for the preview as expected.”

He added: “We are truly encouraged to have 7,000 visitors over the last three days. It shows that consumers can identify with the value proposition of the development.”

Alvin Tan, PropNex executive director and head of project marketing said: “Interest so far has come primarily from people living in the East – in the Chai Chee and Bedok area. The next biggest groups have been residents in the North such as Sembawang and Yishun, as well as those in the Northeast, namely, the Punggol-Sengkang area.”

Steven Tan said that given the scale of the development maintenance cost for future homeowners of Treasure at Tampines will be low.

Ready To Purchase Your Future Home?

The real estate supports normal progressive payment, but if you feel the payment scheme is not as convenient, then do not fret, you can use iCompareLoan to view and compare home loan Singapore and choose the best suited scheme for your needs.

The mortgage broker company, iCompareLoan, allows clients to access several home loan information databases and help them compare different Singapore home loans without any extra steps or time consuming broker meetings.

Purchasing and owning a property can be a hassle for some people, especially setting up payment plans and checking the hundreds of housing loan plans that are available. With iCompareLoan mortgage brokers can help you figure out the next step in your housing financing plan and guarantee a chance to own your dream home.

It may seem difficult but the reality is much different and what nay seem like a far-away dream is actually within reach, just give iCompareLoan a try and you’ll be amazed at how streamlined and straightforward the service is, allowing for an easy way to compare between several house loan plans in Singapore.

For advice on a new home loan.

For refinancing advice.

Download this article here.

The post Treasure at Tampines brings forward sales launch after large weekend turnout appeared first on iCompareLoan Resources.

Building good credit definitely takes time – so starting early will pay dividends later. Even if you ‘building a good credit’ a bank will not loan your business money if it cannot show either substantial assets or a steady, reliable income stream.

So, either the newly acquired property will have to more than pay for itself (e.g., a good cash flowing rental with a signed lease prior to closing) or it will have to have a steady source of other income (e.g. from consulting, property management, or RE sales over time, etc.).

Getting a business loan may not be all that difficult; your choices are somewhat fewer but it’s doable if the business either has assets and credit history of its own, or you give a personal guarantee.

Build a Good Credit for Your Dream Home

With business loans, expect to pay several points and a higher interest rate if you are borrowing from banks. This is because they take higher risks by lending to a company versus a person living in home and those risks reflect in the higher rates. This will impact your ability to cash flow, etc. In many cases, people get excited about the idea of starting a business without understanding it will cost you more to do business in exchange for what can be very limited liability protection.

On the personal guarantee – is it an awesome thing to do? No. But, sometimes we can’t sit back and wait for the perfect situation to present itself. So, business owners need to do the best they can with what they have; if that means taking out a business loan with personal guarantee, and in using your corporation to do the investments for you – then go for it if it is the right business move for you.

In building good credit, whenever possible, try to establish credit lines that will grow along with the business.

For example, in setting up a credit line with your bank, try to get a credit line based on a percentage of your receivables, rather than a constant, static amounts. Chances are your credit line will be reviewed by your bank annually and will be subject to ceilings and restrictions, but try to build as much flexibility into your borrowing relationships as you can. This will leave you better equipped to finance fast growth. Also try to establish credit lines with your trade suppliers that grow along with your business as well.

In building good credit, you should be started before the company needs it.

Image credit: Morgan l Flickr
In building good credit, whenever possible, try to establish credit lines that will grow along with the business

No lending institution wants to lend money to a business in need of cash flow. The business can start out using the owner’s or officer’s credit to gain approvals under the business name, but as the business grows it should start to establish it’s own credit history and credit profile in order to take on business credit of it’s own.

When officers and owners use their own personal credit profiles to obtain credit for the business, they risk the chance of lowering their own personal credit scores. There are two reasons business owners should try not to use their personal guarantee on business credit. First, the individual signer is liable if the business cannot make the payments and second the credit obtained for the business can affect the person’s personal credit score.

Keep in mind, your personal credit score is based on several factors, including available credit, the amounts of available credit used, late payments, and much more.

Obtaining credit for a business is a process that should be established over time. The older the business the more options the business will have to build credit and obtain loans and leases without the use of personal guarantees. It is not easy to do this, but yet it is not impossible. The first step is to start building the business credit today.

5 tips for boosting your chances of getting personal loans

A credit score is built by having lines of credit, credit accounts and trade references that report to the business credit bureaus. For most businesses it’s very difficult to find a business willing to grant credit with no personal guarantee and without any previous credit history.

In building good credit, if you have your own trade references, you should work with them to build the score. However most businesses need additional trade references that will grant credit and report to the credit agencies.

How to Secure a Personal Loan Quickly

If you have limited capital and are searching for a personal loan to expand your business, the loan consultants at iCompareLoan can set you up on a path that can get you a it in a quick and seamless manner. Our loan consultants have close links with the best lenders in town and can help you compare various loans and settle for a package that best suits your needs. Find out money saving tips here.

Our Affordability Tools help you make better property buying decisions. iCompareLoan Calculators help you ascertain the fair value of a property and find properties below market value in Singapore.

If you are looking for a new home loan or to refinance, our Mortgage brokers can help you get everything right from calculating mortgage repayment, comparing interest rates all through to securing the best home loans in Singapore. And the good thing is that all our services are free of charge. So it’s all worth it to secure a loan through us for your business expansion needs.

Contact us for advice on a new home loan.

Contact us for home loan or refinancing advice.

The post Building good credit definitely takes time – but is worth it appeared first on iCompareLoan Resources.

You can borrow money for your business growth even if you have poor credit history if you know how to keep your personal and corporate identities separate.

By: Phoenix Lee/

Acquiring a business loan is not easy for businesses with poor credit history. Getting approved for a business loan from a bank with a bad credit score can be extremely difficult. Unfortunately for young businesses bad credit is a common plight.

Many entrepreneurs quickly learn that their initial business loan was helpful in establishing and starting up – but expansion, maintenance or even growth requires additional funding which may not always be available. New small businesses tend to damage their own chances for secondary financing during slow beginnings when fixed loan repayments are not always made on time.

Other factors such as personal credit may also damage ones ability to be approved for a business loan as most lenders (banks and other financial institutions) look at a combination of both personal and business credit. Many business owners turn to private lenders, moneylenders, or even family and friends. Acquiring the necessary funds through these private channels is usually not realistic as funding amounts are typically limited.

Just as your personal credit history determines whether you qualify for a personal loan, it also affects whether you can get a business loan. The three main things lenders look for on your credit report are:

• Late payments
• Missed payments
• Bankruptcies

Image credit: CafeCredit

These problems can take seven to ten years to cycle off of a credit report. As long as there’s no pattern, the occasional late payment is no big deal in the eyes of most lenders — we’ve all mailed cheques a day or two late.

But missed payments and bankruptcies are a different story. These black marks on your credit report must be explained. Circumstances leading to your bankruptcy are best explained in a letter accompanying your loan request. Don’t just explain what happened. Let your prospective lender know what steps you’ve taken to assure it won’t happen again. Typically, banks won’t consider conventional loans to applicants with a bankruptcy in the past three years.

Urgent loans can help you overcome short term hurdles

That doesn’t necessarily mean you shouldn’t try. Banks are your best financing source, but there are alternatives, including revolving-loan-fund programs and micro-loan programs available through several financial institutions. Some of these programs, however, require you to have been turned down by a bank first before you can apply.

If you are starting a business and have a poor credit history, here are a few tips that should help:

1. Forget big banks as sources of funding.

In the past, obtaining bank financing was based on the four Cs of credit: credit history, cash flows, collateral and character. Today, this is no longer true for most large, well-known financial institutions. They care little about three of the four Cs-and instead tend to focus purely on credit history in making lending decisions to small-business applicants.

This is because consolidation in the banking industry has driven banks to automate their credit decision processes and minimise the labor involved in getting to know credit applicants face to face. If you have a great business idea but poor credit history, you will not get any money from banks.

Even if you have a great business idea, a strong character and relevant work experience, you are not likely to get any money from big banks if you have poor credit history.

There is one notable exception to this rule: home equity loans. If you are willing to secure your business loan with personal equity in your home, you will have plenty of options even if you have poor credit score. But be very careful about relying on home equity loans too early in the life cycle of your business. Cash flows for startups are notoriously difficult to forecast.

Two criteria banks look for when reviewing business loan applications

2. Differentiate your personal credit from your business credit.

While large banks focus on your personal credit score, smaller lenders may focus on a combination of your personal credit score, business credit score and other factors associated with the viability of your business.

Your personal credit score is determined by several factors, including the outstanding debt balance on personal credit cards, the number of open lines of credit accounts, bill payment history and late payment history. Your business credit score is determined by similar factors but is linked to the tax ID for your business, not your personal identity number. This important difference can help you get your business off the ground.

If your personal credit score is damaged, you should seriously consider getting a separate tax ID number for your business. In addition to getting a tax ID number, it is important to ensure that your business is distinct from your personal identity. While these administrative chores might seem minor, they are critical in distinguishing you from your business.

3. Build your business’s credit score.

Once you have a tax ID number and a legal identity for your business, you can start building your business’s credit and establishing a means to qualify for trade and credit lines from suppliers and sources of capital. If you do not have strong personal credit, you should pay special attention to ensuring that you build a good business credit history.

How to Secure a Personal Loan Quickly

If you have limited capital and are searching for a personal loan to expand your business, the loan consultants at iCompareLoan can set you up on a path that can get you a it in a quick and seamless manner. Our loan consultants have close links with the best lenders in town and can help you compare various loans and settle for a package that best suits your needs. Find out money saving tips here.

Our Affordability Tools help you make better property buying decisions. iCompareLoan Calculators help you ascertain the fair value of a property and find properties below market value in Singapore.

If you are looking for a new home loan or to refinance, our Mortgage brokers can help you get everything right from calculating mortgage repayment, comparing interest rates all through to securing the best home loans in Singapore. And the good thing is that all our services are free of charge. So it’s all worth it to secure a loan through us for your business expansion needs.

Contact us for advice on a new home loan.

Contact us for home loan or refinancing advice.

The post Poor credit history – fret not! Following simple rules can get you loans appeared first on iCompareLoan Resources.

According to the developers’ sales survey by the Urban Redevelopment Authority for February, new private residential property sales rose 4.4 per cent month-on-month (m-o-m) to 455 units in February. Including executive condominium (EC) units, there were 457 new private residential property sales last month, registering a 4.6 per cent m-o-m increase.

On a year-on-year basis, new private residential property sales excluding ECs was 18.5 per cent higher than February 2018.

Commenting on the new private residential property sales data, Mr Desmond Sim, CBRE’s Head of Research for Singapore & Southeast Asia said:

“In February 2019, 455 units were sold while 596 units were launched. This brings the year-to-date number to 891 units sold and 1,094 units launched. In comparison, over the same period last year when sentiments were stronger, 911 units were sold while only 454 units were launched.

Statistically, demand appears to be relatively stable as compared to the same period for 2018. However, a shadow of concern lies with the impending launches over the next 9 to 12 months. Any further pressure from the demand side will exacerbate this supply imbalance.

Given that there were no new launches in February, sales were from existing projects such as Affinity at Serangoon (88 units), the Tre Ver (48 units), and Stirling Residences (31 units). Notably, sales at the other existing projects have plateaued, with only a handful of projects launched in the second half of 2018 achieving more than 50% of total units sold. Clearly, buyers are spoilt for choice.

In the EC segment, just one unit was sold from Northwave and another at Rivercove Residences. All eyes will be on the next highly anticipated EC launch at Sumang Walk, which is likely to be in the next quarter.

Going forward, developers will face stiff competition to attract buyers with a torrent of launches arising from the land acquisition spree in 2017 and first half of 2018. This is also against a backdrop of increasing mortgage rates and slowing economic growth. However, with a comfortable leeway to the 5-year ABSD deadline, developers may still hold firm with prices, but will incentivise agents or rely on stronger project attributes to attract buyers.”

Condo buyers seem to be streaming back to the property market

Ms Christine Sun, head of research and consultancy at OrangeTee commenting on the new private residential property sales figures said: “Amid the absence of major project launches and the Lunar New Year festive period, new home sales continued to rise across many previously launched projects last month, a reflection of resilient home buying sentiment.”

New private residential property sales are expected to be revved-up in the coming months said Ms Sun.

She added that home buyers will remain selective and price-sensitive, preferring projects that are well-located, distinctively designed and competitively priced.

“Sales are expected to rev up as more projects are slated to be launched in the coming months, including Amber Park at Amber Gardens, Sloane Residences at Balmoral Road and Rivière at Jiak Kim Street”

Huttons Asia’s research head Lee Sze Teck noted that projects in Serangoon accounted for more than half of February’s new private residential property sales, and contributed to 30 per cent of total units sold.

“MRT infrastructure announcements tend to move condo sales. … Projects in Serangoon – The Garden Residences, Affinity and Riverfront – accounted for one-third of total sales in February.”

An earlier report by Colliers International said that property auction listings in 2018 reached record high numbers amid slower sales. Colliers said that it expects property auction listings and sales to grow in 2019 as residential cooling measures continue to bite.

The report said that there were 1,088 property auction listings (including re-listings) in 2018. This is an increase of 35 per cent over 2017, and mortgage listings (foreclosures) comprise of about 30 per cent of all auction listings.

Property auction listings in 2018 reach record high amid slower sales

Mr Paul Ho, chief mortgage officer at iCompareLoan commenting on the new private residential property sales said that in an uncertain economic climate, home buyers should be more careful.

“Bank interest rates are on the uptrend and foreclosures by banks are increasing. Home buyers should be mindful to not put themselves in a place where they struggle to pay their mortgage loans. They should speak to professionals and try and get the best home loans which fits their unique profile,” he said.

How to Secure the Best Home Loans Quickly

iCompareLoan is the best infomercial loans portal for home-seekers, buyers, investors and real estate agents alike in Singapore. On iCompareLoan, you will be able to find all the latest news and views, informational guides, bank lending rates and property buying trends, and research data and analysis.

Whether you are looking to buy, sell or refinance apartments, condominiums, executive condos, HDB flats, landed houses or commercial properties, we bring you Singapore’s most comprehensive and up-to-date property news and best home loans trends to facilitate your property buying decisions.

Our Affordability Tools help you make better property buying decisions. iCompareLoan Calculators help you ascertain the fair value of a property and find properties below market value in Singapore.

Our trademarked Home Loan Report is Singapore’s first one-of-a-kind analysis platform that provides latest updates of detailed loan packages and helps property agents, financial advisors and mortgage brokers analyse best home loan packages for their clients, so that they may give unbiased home loan/commercial loan analysis for their property buyers and home owners. Our distinguished Panel of Property Agents who are users of our Home Loan report can give the best all-rounded advise to real estate seekers.

All the services of our mortgage consultants are ABSOLUTELY FREE, which means it’s all worth it to secure a loan through us.

Whether it is best home loans, best commercial loans or refinancing of existing loans or SME loans, CONTACT US TODAY!

The post New private residential property sales increase as foreclosures rise appeared first on iCompareLoan Resources.

Image Credits: Treasure at Tampines, Sim Lian Group Ltd

Usually treasures are meant to be kept as secrets and promises of treasures are quite rare, if at all true. However, this time, this is not the case as the Sim Lian group has promised and delivered the one and only Treasure at Tampines with their new property launch. The infamous real estate and architecture group has been providing families and individuals in Singapore with amazing housing, and communities for well over 40 year. The property investment and construction group has revealed their newest property, in Tampine and it is truly a treasure of a property with many luxurious features and unique characteristics that will surly leave you in awe at the beauty and sophistication of this high end residential property.

The newest property launch, Treasure at Tampines, is situated on the former Tampines court, Tampines street 11 with around 2,203 luxurious, high end residential units available for customers to enjoy as soon as possible. The 2,203 units are spread over 29 blocks of 12 stories each, featuring state of the art construction materials, amazing modern architecture and a great, intuitive urban design to make sure the residents enjoy a busy, exciting and luxurious lifestyle with both family and friends. The property will also feature shuttle buses to help residents reach their destinations with ease and comfort, also the Tampines condo is quite close to Simei M.R.T station and can be reached pretty quickly on foot.

You might be wondering, what makes this new property so unique, Well, if the previous description isn’t grabbing your attention, it’s because this is just the tip of the iceberg when it comes to describing and mentioning the many perks and features of this great new addition to the properties of Sim Lian group. The 648,889 sqf residential project is immaculately designed by Design link architects and developed by Sim Liam group, with a promise of a luxurious, and sophisticated lifestyle for all owners and community members. There several reason why treasure at Tampines should be your next real estate purchase and investment, and here is why:

Future community development and long term urban power: The project is located on Tampines street 11 and is situated between several future landmarks that are bound to boost and rejuvenate the neighborhood in the near future. Projects include the anticipated jewel of Changi Business-Park, Changi Development-Project, And Tampines Industrial-Park. These aforementioned projects are bound to turn Treasure at Tampines into a future capital.

Proximity to several key locations: In addition to the future landmarks, the property is situated near century square, and is a short drive to Tampines hub and Mall, as well as East point mall. The project is developed in the key suburban areas of Tampines, and covers an area equivalent to 11 football fields that is surrounded by many recreational and commercial opportunities.

Several convenient properties and mixed use estate: Since this new property launch is located within the heart of Tampines and in close proximity to Simei MRT, residents and future owners can enjoy the hundreds of department stores, shops, restaurants and other conveniences around Treasure at Tampines.

Such an opportunity is too good to let pass by, and show rooms for properties are now accessible to the public and potential Treasure at Tampines residents. Registration has opened on the website and interested clients can book a showing for any of the properties available, also floor plans and residential layouts are accessible on the website.

Ready To Purchase Your Future Home?

The real estate supports normal progressive payment, but if you feel the payment scheme is not as convenient, then do not fret, you can use iCompareLoan to view and compare home loan Singapore and choose the best suited scheme for your needs. The mortgage broker company, iCompareLoan, allows clients to access several home loan information databases and help them compare different Singapore home loans without any extra steps or time consuming broker meetings.

Purchasing and owning a property can be a hassle for some people, especially setting up payment plans and checking the hundreds of housing loan plans that are available. With iCompareLoan mortgage brokers can help you figure out the next step in your housing financing plan and guarantee a chance to own your dream home. It may seem difficult but the reality is much different and what nay seem like a far-away dream is actually within reach, just give iCompareLoan a try and you’ll be amazed at how streamlined and straightforward the service is, allowing for an easy way to compare between several house loan plans in Singapore.

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