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FAQ for Business Loan
Any locally incorporated company with at least 30% local shareholding can apply for a business term loan, no matter how big or how small, although some lenders will only lend to private limited companies, so you need to check this. Different lenders have their respective industry exclusion list which includes but not limited to: 1. Casinos, gambling &/or gambling equipment 2. Lethal military weapons & equipment 3. Traders in precious metals (retail sales of jewelry is acceptable) 4. Antique dealers 5. Brothels 6. Night Clubs/ Bars 7. Money Lenders/ Pawn shops 8. Money Changers/ Exchange/ Remittance 9. Any other businesses which are involved in illegal activities or which could adversely affect the Bank’s reputation *above served as a general guideline as unlike personal loan, business loan credit assessments are more comprehensive and detailed.
Most lenders have a maximum quantum that per company can take up. The amount usually ranges from $300,000 to $500,000 but certain lenders have a higher approval quantum of up to $1,000,000/- or more.