Blog / Activities

07
Jul

OCBC Startup Business Bank Loan – No Collaterals

OCBC Startup Business Bank Loan When it comes to financing your startup, there are many ways that you can work on such as:Friends, Family and Fools loans, basically loaning from the ones around you Startup funding from investors, eg. Seeds, Angels, VCs Bank loans (similar to these offered by OCBC)OCBC has been one of the preferred partners of startups and recently they release this new non-collateral loan for startups of up to $100,000OCBC is the second largest lander in Singapore and has recently announced, that it will provide startups from 6 months old an easy to approve loan of up to S$100,000.To make the experience of startup founders taking the OCBC startup loan a good one, it is stated in the press release, i quote "Loan approval takes one day, and business owners only need to complete a simple one-page form, provide their NRIC, latest personal IRAS Notice of Assessment and the company’s latest bank statement".For startups that are looking at means of running a business and requiring support through this OCBC Startup Business Bank Loan.

19
May

Startup Accounting

Startup Accounting Are you a startup business trying to find your way around?Starting up can be a very tough process and through this process you probably have to handle many things that you do not have prior experience for. For example, doing the incorporation, having share holders agreements (this is one big catch, how do you know how draft something that is legal binding and something that is kept by a neutral third party) , preparing accounting systems so that you can issue your invoices and receive receipts.After this process you go on to start your marketing, develop your products , go for government grants and start making money.There are so many components of work that you will be looking at and this shouldn't be the case.Some of the common questions that start up founders would ask:1. Am i invoicing my clients correctly? Did i miss out on anything that makes my invoice enforceable ?2. Do i keep receipts when i meet clients? Are they useful for accounting and tax purposes?