Under no circumstances is Funding Societies obliged to inform, or give prior notice to, parties / persons who have hyperlinked to or framed the website or any of the Contents about the amendment or change of the website’s URL, content or information therein. Funding Societies is a remarkable, Singapore-based startup that uses its crowdfunding platform to raise loans for small businesses. Beverage (F&B), retail and tourism industry need to comply with safe distancing Venture capital is a form of private equity and a type of financing that investors provide SMEs may find it helpful to examine their creditworthiness before deciding general forms of loan structure – Term loan and line of credit. If you choose to access the Platform from locations outside of Singapore, you do so on your own initiative and are responsible for compliance with the local laws. development (R&D) efforts, expand business operations to overseas markets, and more. term loan, merchant cash advance, venture debt financing and business line of credit. (v) it has read, understood and agreed to these Terms and Conditions, and accept all such obligations thereunder, in reliance only upon its own independent judgment and upon advice from such independent advisers as it has deemed necessary, and that it is solely responsible for ensuring that it has carefully considered whether doing so is suitable for its financial situation and condition and particular needs; and. Examples of these Different financial institutions however, have slightly different definitions of fixed It does not fall under the jurisdiction of Bank Negara Malaysia. We allow applicants to make financing applications on behalf of borrowers who are representative of the borrower. Funding Societies does not and will not warrant or represent: that any and all information on its platform, website, marketing material or in any documentation that Funding Societies prepared including the Contents are accurate, valid, correct, current, reliable, verified, complete, or error-free; that the Platform (including any functions associated therewith) or the Contents will be uninterrupted or error-free, or that defects will be corrected, or that the Platform or its server is or will be free of viruses, worms and/or other harmful or invasive elements, or that the download, installation or use of any software of the Platform or the Contents in or with any computer or device will not affect the functionality or performance of the computer or device; that the Platform will be protected against any malicious attack or that data will not be compromised under such attack; as to the functionality, operability, accessibility, accuracy, correctness, completeness, reliability, up-to-dateness, timeliness, satisfactory quality, merchantability, fitness for a particular purpose, and non-infringement of proprietary rights, of the Platform and the Contents; the success of any outcome, dealings or transaction on the Platform; that all applications for financings on the Platform will be approved or granted; that all fundraising campaigns on the Platform will be successful; and, that the creditworthiness, genuineness and trustworthiness of any users. as lenders usually prefer cash. overall picture of the company’s financial health. lump sum capital that borrowers have to pay back with a specified repayment schedule Panjang Blok X No.1, Kedoya Utara, Kebon Jeruk, Jakarta Barat 11520, Indonesia, Invest on the go via the Funding Societies app. outlook, and any relevant social, economic, or political factors. businesses to better manage their cashflow. a way, invoice financing helps SME turn invoices into cash as opposed to waiting for Business plans can span from one page to a full fledged unsecured business financing of up to S$2 million, loan disbursal in as soon as 24 Singapore can enter phase three of its reopening by end 2020. We will be entitled to assume that the borrower has read and accepted these Terms and Conditions and treat the application as having been made with the borrower’s full authority. 110) of Singapore (the “FAA”); Are there grants instead? 10.1. You agree to defend, indemnify and hold us including our management, employees, subsidiaries, representatives and affiliates harmless from and against all liabilities, damages, claims, actions, penalties, costs and expenses (including legal fees) and all detrimental consequences, which may be suffered or incurred by us as a result of or in connection with or arising out of: information you submit, post, transmit or make available through the Platform; from your breach of any of these Terms of Use; your use of the Platform or the Contents; any non-compliance with or violation of any prevailing laws and regulations, government’s policies, directives and court verdicts or arbitral awards of any judicial bodies including infringement of any third party’s rights committed by or which involves you and/or your affiliates, employees or related parties in or after the use of our services or during the access to, use of or browsing on the Platform. Trade Loan , Project Loan , and Mergers & Acquisitions (M&A) Loan . financing methods such as government grants to tide them through these difficult times. 15.3. If the dispute remains unresolved, the parties irrevocably submit to the non-exclusive jurisdiction of the Courts of Singapore to settle any disputes which may arise out of or in connection with these Terms of Use. An angel investor is often known as a private investor or seed investor. The Platform is dependent on other third-party service providers, including but not limited to website domain hosts and payment providers. Funding Societies provides an excellent opportunity for crowdfunding investing in Singapore SMEs. You should therefore read the Funding Societies Terms & Conditions carefully each time you visit the Platform. 5.3. All trademarks, service marks and logos used in the Platform are the property of Funding Societies and/or the respective third-party proprietors identified on the Platform. It is approved without the 7.1. In Singapore, the platform holds a Capital Markets Services (CMS) Licence and is regulated by the local authorities. sustainable, and whether it contributes to the overall stability and potential growth of the investors may fund SMEs with a one-off investment amount to get the business off the “Adverse Information” means any information that may give Funding Societies reasonable grounds to suspect money laundering or terrorist financing or any illegal activities (according to the Applicable Laws); such potential information may include but is not limited to; evidence of money laundering or terrorist financing on the customer and/or its ultimate beneficial owners; customers that are from and/or have business from countries or jurisdictions which have relatively higher levels of corruption, organised crime or inadequate AML/CFT measures, as identified by the FATF or Transparency International; customers from higher risk businesses / activities sectors identified in Singapore’s NRA; customers where the ownership structure of the legal person or arrangement appears unusual or excessively complex given the nature of the legal person’s or legal arrangement’s business; customers that have nominee shareholders or shares in bearer form. If you do not agree to the Funding Societies Terms & Conditions, please do not access and/or use this Platform and/or register for or use the Services otherwise which you will be deemed to render your unconditional consent and acceptance to the Funding Societies Terms & Conditions. Click to share on Twitter (Opens in new window), Click to share on Facebook (Opens in new window), Click to share on LinkedIn (Opens in new window), Click to share on WhatsApp (Opens in new window), Click to share on Skype (Opens in new window), Business Loan Singapore - The Definitive Guide (2021), Ultimate Guide to Business Loans in Singapore. how much money the merchant receives through online accounts such as PayPal to 11.6. Funding Societies may amend or change the URL of the Platform at any time including any Content or information therein. In light It is interesting to These can include the position of the SME in relevance to its competitors, economy The terms and conditions relating to the investors shall be governed by the Platform Agreement entered into between Funding Societies and the Investor. Invoice financing VS Traditional loans: What is the difference? This refers to the unlikely event of Funding Societies undergoing winding-up proceedings or becomes insolvent. the new normal . more accurately assess the business’ capability to make repayments. ● Collateral general guide, the criterias reveal the 6 C’s of the SME – character, capacity, capital, collateral, 2.1. Funding Societies may modify the Funding Societies Terms & Conditions at any time in its sole discretion by posting the revised Funding Societies Terms & Conditions on the Platform and/or via an announcement on the Platform, which will be effective immediately upon posting. distributing funds. The company then It Funding Societies shall also not be considered associated or affiliated with any trade or service marks, logos, insignia or other devices (not owned by, licensed to, or controlled by Funding Societies) used or appearing on the External Websites. ongoing global pandemic presents both opportunities and challenges to SMEs. 3.1. You must be over the age of twenty-one (21) to register on the Platform. on with expansion plans amidst the coronavirus given that it is not a short-term problem that will 19) of Singapore) or the SFA. with or without collateral, through a simple application process and fast approval. SMEs who are Save and except with Funding Societies’ prior written consent, you may not insert a hyperlink to the Platform or any part thereof on any other website, mobile application or "mirror" or frame the Platform, any part thereof, or any information or materials contained in the Platform on any other server, website or webpage. By determining the This mainly includes micro-businesses that are younger in age that might have a good business model and and healthy cashflow. Invoice financing is the borrowing of money against the amounts due from customers. Technological advances have enabled new forms of lenders to emerge. for startups and SMEs, typically in exchange for ownership equity in the firm. The Issuer hereby give Funding Societies its express and irrevocable permission to contact any relevant authorities, banks, financial institutions, private companies, or individuals to ascertain, verify and confirm relevant information about the Issuer, including (but not limited to) its legal or credit history and hereby renders its consent to (or shall execute, if any signature is reasonably required for such purpose. the company’s ACRA business profile information, financial statement, Notice Of Assessment Established in 2015, Funding Societies is a digital financing platform that connects small and medium-sized enterprises in Singapore, Indonesia, and Malaysia with retail and institutional lenders. 11.5. Funding Societies shall be entitled to disable any hyperlink to, or frame of, the Platform or any of the Contents at any time, notwithstanding any prior permission that may have been given by Funding Societies. In other words, it shows how ‘worthy’ the firm is to receive credit. particular, are changing the brick and mortar landscape of lending by using data and services. It is composed of funds by investors that directly invest in private You may retrieve and display the Contents on a computer screen, mobile phone screen, tablet screen (or equivalent), store such Contents in electronic form on disk (but not any server or other storage device connected to a network), download or print copies of such Contents for your own use, provided you keep intact all and any copyright and proprietary notices. The above article is published on 18th Jan 2021 and accurate as of date of publication. are ready to take on loans in the first place. If you do not accept the Funding Societies Terms & Conditions, you must discontinue hyperlinking to, or framing of, the Platform or any of the Contents. More information about available grants can be found in the SME grants guide. difficult early stages. Collateral tend to be considered as a secondary source of repayments Share sensitive information only on official, secure websites. During the business loan application, financial institutions may require SMEs to submit a set of even as they seek new revenue sources, speed up digitalisation and innovate in products and If you do not agree to these Terms and Conditions, please do not proceed to create a borrower’s account and make an application for financing. "Finance Documents” means the Facility Agreement, the Platform Agreement, Funding Societies Terms & Conditions, the Security Documents, the Transaction Documents, and the Investment Notes Certificates, which expression shall include any amendments variations, supplemental and substitution and any other document designated as such by Funding Societies from time to time; “Issuers” means Prospective Issuers, which are deemed eligible and creditworthy by Funding Societies in its sole discretion to obtain and benefit from the financing and therefore are accepted as the Issuer and are the parties to the Finance Documents (each an “Issuer”);“Prospective Issuers” means any SMEs who are looking for financing opportunity (each a “Prospective Issuer”); 2.1 The Issuer understands, acknowledges and agrees that:(i) Funding Societies is a Capital Markets Services Licence (“CMSL”) holder for the regulated activity of dealing in securities under the Securities and Futures Act (Cap. Funding Societies is an online platform that connects investors with small businesses that need funds, solving the financial inclusion issue by making credit-worthy SMEs bankable. Ltd.Business Registration No. Traditional banks, as its name suggests, are banks that many of us may be familiar with. to startups and small businesses that are believed to have long-term growth potential. If a fault occurs with the Platform, you should report it to info@fundingsocieties.com and Funding Societies will attempt to correct the fault as soon as it reasonably can. can be a roadmap detailing the marketing, financial and operational means of reaching determined by many factors such as repayment history, credit score, amount of liability, Ltd. and FS Capital Pte. What are major types of business loans in Singapore? co-sharing of business loan risks. At Funding Societies, we are committed to improving society through funding underserved SMEs that are deserving of recognition. creditworthiness and the business’ ability to repay the loan. At the end of the day, SMEs considering to take up business loans may find it useful to consider Lenders 1.2. The content and materials made available to you including, but not limited to, all text, information, images, photographs, video, audio, graphics, software programs and links found on the Platform (“Contents”) are for informational purposes only and should not be relied upon without obtaining the necessary independent legal, accounting, tax, financial or other advice in connection therewith before making an investment or other decision as may be appropriate. A healthy BTI ratio may, by extension, present a better considered as a reference for professional financial advice. SMEs may find it helpful to Our mission is to enable fast and effortless access to funds by bringing SMEs and investors together on our platform. In addition, Funding Societies may occasionally need to carry out repairs, maintenance or introduce new facilities and functions. 112 Robinson Road Level 8 Singapore 068902. With a merchant cash advance, a lender grants an advance of capital and in turn, Investors on time above article is published on 18th Jan 2021 and accurate as of date publication. Submitted documents are updated and as recent as possible company has generated over 12,000 loans amounting to more s! Notify its decision by email or such other mode of communication determined by Funding Societies does not reflect Societies! Endorsement by them can include the purpose behind why a loan is taken according to Terms... ’ the firm ’ s ability to repay the loan taken will be asked to create password! 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