Other than the major supermarkets such as NTUC and Cold Storage, minimarts and provision shops are also necessities in our lives. They either provide goods at lower prices close to home. Rather than taking the bus or train, consumers can simply pop by minimarts and provision shops for their needs.
Be it that bottle of shampoo that just ran out or a pack of chips that you’re craving for or even eggs, minimarts and provision shops are able to help. This probably explains why this industry has been stable and growing over the years.
Regardless of how positive the industry is, running a business in Singapore requires a huge amount of funding. At SBL Singapore, we understand the costs needed to run a business and to remain competitive. There are supplier costs, inventory costs, equipment costs and many more. Our goal is to help businesses in Singapore, no matter the size grow. If you require financial help, do not worry as SBL Singapore offers affordable business loans to lend your business a hand.
In the past few months, SBL Singapore assisted Mr Toh Yee Haw who owns a provision shop in Bukit Batok. Mr Toh opened his provision shop in 2008 selling food, snacks, household needs and toiletries. Business was steady with a stream of regular customers.
However, with the opening of his competitor, a megamart a couple of blocks away, Mr Toh’s provision shop took a hit. The shop’s revenue fell and in certain months, there were even deficits. Mr Toh was in a financial pinch. He needed to increase sales, increase goods and products sold without increasing the price.
SBL Singapore lent Mr Toh a hand in his business and provided him with the necessary funding for his business. With our help, Mr Toh managed to increase the shop’s products, equipment and even managed to do more promotion and advertisements for the shop. Today, Mr Toh’s provision shop is making good profits and even needs to hire more employees to help!
With SBL’s financing, we can help you:
- Buy or lease equipment(s)
- Purchase inventory or supplies
- Rent space or remodel
- Create and execute a marketing campaign
- Hire and train staff
- Secure the licenses and other permits you may need
Launched in February 2018, SBL Singapore aims to provide greater financing and funding to all local businesses, no matter the size. Other than funding, SBL also gathers many mentors in the retail and food industry through our Coach-and-Go programme to help local businesses grow and enter the overseas market.
With a SBL Minimart / Provision Shop Business Loan, you pay for an inexpensive and reasonable rate of interest on regular monthly settlements. This leaves you with enough capital and funds to remain competitive and better your business. Also, you will receive the mentor-ship assistance and operation assistance that you require.
Max Loan Amount$1,000,000
Min Years to Qualify0.5
Min. Annual Turnover< $100,000