When you find yourself filling the loan application kind, you will note there may be a piece of “Your Job Title And Industry”. Remember, some banks do not recognize just a few jobs as they view it to be at a better risk of defaulting. As an illustration, if you are a sailor and are not in a rustic most of the time in the course of the 12 months, then most of the banks and legal moneylenders in Singapore aren’t going to approve your mortgage utility.
3. Enterprise Monetary Counselling – A financial counselling session that will help you and your enterprise partners (the place essential), understand your business financials, assess your firm’s monetary position and explore possible solutions to address your moneylender firm’s debt servicing challenges. We also can assist enterprise owners understand their obligations and the way they could handle their financial liabilities in the event the place a business is now not viable.
“It has been accepted in a number of instances, mainly in the Particular Court docket, that the place the taxpayer can show that he has been carrying on the business of banking or money-lending, then losses incurred by him on account of loans, made within the course of his enterprise, changing into irrecoverable are losses of a non-capital nature and deductible.”