In Singapore, small and medium-sized enterprises (SMEs) are pivotal in driving innovation, job creation, and economic growth. SMEs make up 99% of all local businesses and employ up to 71% of the workforce, according to the Department of Statistics in Singapore. While many of these SMEs are in the service …
Enhancing Business Cash Flow through Accounts Receivable Financing
What is Accounts Receivable Financing ? Increasing your business cash flow is crucial for sustaining work operations, such as, investing in growth opportunities, and managing day-to-day expenses. One effective strategy to achieve this is through accounts receivable financing, which allows you to access funds tied up in outstanding invoices. Listed …
Rescuing F&B Supplier Relationships with AP Financing
Singapore’s vibrant, thriving food and beverage (F&B) industry is a bright spot in the economy, showing signs of robust growth in the face of uncertainty. As of April 2023, all F&B services industries recorded year-on-year growth, according to data from the Singapore Department of Statistics: Food caterers: 61% Fast food …
Understanding Term Loans: A Beginner’s Guide
The objective of gaining opportunities and growth can only be accomplished if you invest in your business. Unfortunately, you might not have enough cash on hand to make these necessary investments. In this case, a small business financing option is exactly what you need. While you research the available financing …
Comparing Funding Societies’ AR Financing and Traditional Banks’ Invoice Financing: What You Need to Know
As a business owner, you know that cash flow is the lifeblood of your company. You need to make sure you have enough money coming in to cover expenses and keep your operations running smoothly. But when cash flow is tight, it can be difficult to access the funds you …
A Guide to Accounts Receivable (AR) Financing in Singapore
66% of businesses in Singapore struggle with the increase in overall business costs. Are you a small business owner struggling to find capital for your venture? Accounts Receivable (AR) financing may be the answer. This blogpost will give you a guide to Accounts Receivable (AR) financing in Singapore and how …
How to use Elevate for SMEs: Issue Unlimited Sub Cards to your team
As a small or medium-sized enterprise (SME) based in Singapore, managing company expenses can be a daunting task. With limited resources and manpower, busy business owners can find it difficult to keep track of spending and ensure that budgets are allocated correctly. This is why having a corporate card with …
5 SME Loan Options to Take Your Business to the Next Stage
Business loans can help the growth of your business in various ways. Whether they’re used to hire more employees, offer new products, expand to a new market, or purchase better equipment. These financing options can provide your business with the capital you require to branch out. Taking the crucial step …
4 Ways of Utilising the Elevate Virtual Card to Expand Your Business
As a small and medium-sized enterprise (SME) or business owner, do you often find yourself lacking complete control and overview of your company expenses? Well if you face this dilemma, the Elevate Virtual Card is an option on top of a credit line from Funding Societies which can help you …
What Every SME should know about AR Financing vs. AP Financing before Applying for a Business Loan
Without access to capital, small and medium-sized enterprises (SMEs) can struggle to grow and thrive. Are you an SME looking for a business loan? You may have heard of Accounts Receivable (AR) Financing and Accounts Payable (AP) financing in Singapore, but do you know how they differ? Both are common …