Crowdfunding Services for SME
Want to get loan for business expansion or working capital but rejected by bank? Amount approved not sufficient for business expansion? Crowdfunding is definitely something that you are looking for. Crowdfunding is a way of raising finance by asking a large number of people each for a small amount of money.
Some have argued that FinTech may or may not have been born alongside the crowdfunding phenomenon but the dates work and no one can deny that disruptive trends grow faster when hand in hand with larger overriding developments and so it may be that FinTech starts to break out as one of the children of crowdfunding ready to grow up and fulfills its destiny. Financial Technology, or also known as FinTech, is a line of business based on using software to provide financial services.
How does crowdfunding works? Firstly, create your project on a crowdfunding platform by posting your project and company profile with compelling images and videos. After that, spread the word by promoting your project on various platforms such as social media sites. Tell your crowd why they should give your project a support.
There are some requirements that one needs to fulfill in order to enjoy the crowdfunding service. The requirements include:
- It is a loan to a Singapore entity.
- MUST be at least one (1) local director and must be able to sign a Personal Guarantee (PG) and a Promissory Note (PN). This is in place of collateral as a safeguard of funders’ interest.
Aside from that, there are some information that are needed to apply for the crowdfunding. Information required are Company ACRA profile, most recent 6 month’s bank statement, at least a year of audited/unaudited accounts (P&L, Balance Sheet, Cash flow Statements), Director(s) personal CBS report, Director(s) notice of assessment, Director(s) copy of Identity Card/Passport, company’s notice of assessment, company’s 6 months CPF contribution, and loan amount expected.
Do not have account prepared yet? Interested in crowdfunding? No worry, we can assist you to prepare your account and launch your first crowdfunding campaign in few days time!
Leverage our accounting knowledge, at 3E Accounting, we understand your need in growing your business in this challenging environment and we are ready to help you. With our strong network and qualified team, we are able to get you the right investor through the online crowdfunding. What are you still waiting for? Contact us for more information today!