Travel to any part of the world, and you’ll probably agree that the food in Singapore is unparalled.
Singapore is the Mecca for foodies all around the globe, with a generous mix of cuisines. You can find delicacies from the Chinese, Pakistani, or Indian gastronomy side by side with those from French, Portuguese, or English cuisines.
Many fusion restaurants offer tourists the chance to get acquainted with the taste of authentic Singaporean meals. In addition to boasting international meals, ranging from succulent steaks to burgers, and pizza.
Regardless of the restaurant or eatery you want to open in Singapore, chances are you will have your share of customers. This niche is the easiest to take advantage of because people will always need to eat.
More importatly, because Singaporeans have turned dining out into a tradition.
However, funding your restaurant and keeping your business up and running requires good funding. This is in addition to a well-thought-out plan.
You need to ensure that your restaurant is in a good location, close to your audience, and you will also have to invest in top ingredients, friendly, quality service, as well as online marketing.
This is why SBL Singapore has specially tailored Restaurant / Eatery business loans to help you cope with the overhead costs.
A few years ago, Mr Derek Lee came to us at SBL Singapore looking for financial assistance. He owned a Chinese restaurant in the North of Singapore, specializing in value-for-money meals for busy people. However, he had a lot of competition from some other nearby eateries and some fast-food stalls.
Seeing his profit plummet every month, Mr Lee found himself unable to pay his employees’ salaries. That’s when he came to us with a plan. Mr Lee wanted to rebrand his restaurant into a fine-dining one. However, he needed a new location, new furniture, and expert chefs with different skills, plus waiters with various hospitality degrees.
We helped Mr Lee find good counselling, both on project management and marketing, to make sure his dream can come true. Now, his restaurant is thriving and Mr Lee is as happy as can be. We have read online reviews of customers praising the food and ambience there. Thus, they return for more mouth-watering delicacies every chance that they get.
We can also help you with our personalized Restaurant/ Eatery Business Loans. Our loan will cover expenses such as:
- Training for your employees
- Monthly salaries
- Recurring monthly expenses with gas, electricity, water, and cleaning
- Top insurance
- Top utensils
- Furniture and décor
- Remodelling and repairs
Launched in February 2018, SBL Singapore aims to provide financial assistance to all companies including those in the food and beverage industries. We also gather mentors in the food and beverage industries through our Coach-and-Go programme for our clients to attain more information and knowledge on business management. Our objective is to help local Singapore brands grow and enter the overseas market.
With a Restaurant / Eatery Business Loan, you pay for an inexpensive and reasonable rate of interest on monthly repayments, ensuring that you have enough capital to remain competitive and grow your business. In addition to funding, you will also obtain the mentor-ship and operation assistance that you require.
- Max Loan Amount$1,000,000
- Min Years to Qualify0.5
- Min. Annual Turnover< $100,000