Business Funding Website in Singapore

Introduction

Funding your business through traditional methods like bank loans can get difficult sometimes. 

The long documentation process, lack of collateral, and huge interest rates make the process difficult to get funding when in need. Additionally, delay in the processing further delays the funding.

Business funding website in Singapore

In such situations, where you are in need of quick funding, you can choose to finance your accounts receivable. Invoice financing allows you to cash out your pending invoices immediately. This is done using Invoice Factoring and there are companies that offer you factoring services.

Since the process of factoring is almost completely online, you can refer to the factoring company websites to know more about this funding method.

Online Business Funding

Application for invoice financing is completely online and hassle-free with no paperwork. You need to create an account with the funding agency/company and integrate your accounting software to this account. The verification process is done by the factoring company using software and manually using cash flow experts.

Once the application is approved, it takes less than 24 hours to get an upfront payment of 80-90 % of the outstanding invoiced amount. This is amount is directly credited from the factoring company to your business account.

The factoring company then will collect the invoice amount from your customers and will proceed to pay you the rest of the percentage of the invoiced amount. At this point, the factoring company deducts a small fee from the amount paid to you.

Business Funding Website in Singapore

Invoice financing is very common in Singapore market. There are companies in Singapore which provide factoring services. Business owners approach these companies through their website. The application procedure starts on the website and it is completely online.

However, different companies differ in their terms and conditions about the financing services. It is important to be well aware of these terms and conditions before you sell your invoices.

Finaxar Is A Leading Business Funding Website In Singapore

Finaxar is a financial institution that works on invoice factoring and line of credits to provide quick funds to businesses. We value our clients, understand their needs, and work towards providing them the funds they need at a faster pace. All factoring procedures are well managed and carefully evaluated. You can start your application by creating an account with us here.

Next step is to sync your accounting software to the account and we will verify the account and approve the invoices that can be sold.

We will credit 80% of the invoice amount up front and will professionally manage the customer payment schedule. We will directly collect the invoice from the customer and then credit you with the rest of 20% minus a factoring fee. This is the only time you will be charged for our services.

If you still have doubts if this method of funding is suitable for your business, consult with our customer support executive on live chat.