How do I gain financial assistance with my small business?

Hi Nerisha,

Have you tried getting a SBA loan or a bank loan? How has that process been? Just curious, what have you tried so far and what has your research shown? Happy to ideate with you on how to get over your hurdle.

I think you can look into starting your business in places like Singapore for financial assistance such as tax exemption and grants. From what I know, Singapore is one of the countries that provides tax exemption for start up.

For new start up companies, there is a 75% exemption on the first $100,000 of normal chargeable income and 50% exemption on the next $100,000. I believe this will greatly help you business.

And if you have a local partner, you can also look into the government grants that is eligible for new start up in Singapore!

Here's a website i came across about grants in Singapore. I didn't know there's so many of them! Maybe you can call the consultant for a free consultation to understand more. https://www.paulhypepage.com/what-are-all-government-grants-available-to-businesses-in-singapore/#What-Types-of-Government-Grants-are-available-to-small-businesses

Hi Nerisha,

Awesome, question. I found this website super helpful when I applied for my own microloan to start my business. Check it out: https://www.fundera.com/business-loans/guides/microloans. Also, the US Small Business Administration is a great place to start (SBA.gov).

Plug in to your Chamber of Commerce. Often, you will find a small business incubator group that has resources from all around the community. A lot of communities are using grant money to reinvest in small businesses with targeted loans like façade rebuild and technology update for older buildings. The Chamber is a good place to start.

If your business has been registered, you can search for financial aid for your business online, but some organisations if not most of them will ask if your business has been registered, if registered there is possibility you will get the help

The business owner may borrow money (take loans) from credit associations, micro finance institutions, banks, individuals or other business organizations.

You may borrow money (take loans) from credit associations, micro finance institutions, banks, individuals or other business organizations.