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Frequently Asked Questions

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General Questions

What does a loan consultant/ business development officer do in Reliance Advisory?

Reliance Advisory is essentially an intermediary for loan requests and applications between Financial Institutions and yourself. Our consultants/business development officers will present you with unbiased interest & fees packages available in the market that suit your needs.

Why use Reliance Advisory?

Reliance Advisory work with multiple banks to deliver value and results to you. Our banking-trained consultants will help you reduce time required to validate rates and hidden details.

What is the estimated processing time involved?

Depending on your requirements, processing time will be between 2 to 4 weeks. The outcome of your application is of utmost importance to us. Rest assured that Reliance Advisory will follow through all your applications seriously and closely.

Are there any Fees involved?

Fees varies based on services required and complexity of each case. You will be advised accordingly with each consultation.

How is my personal data managed?

We will sign a Personal Data Protection Act (PDPA) agreement with you and will only share your data with Financial Institutions that are in direct link with the product or service you require.

What kind of information/documents are required?

Our consultants/business development officers will first understand what kind of product/service you require. We will then advise on the information/document needed.

How much can I borrow?

The amount you can borrow will be dependent on your financial strength and the lending criterias of the lenders. At Reliance Advisory, our consultants will do an evaluation and advise you accordingly

What is the estimated processing time involved?

With full documentation, Reliance Advisory will take 1 day to revert on the initial assessment outcome.

Subsequently, the processing time will be between 2 to 4 weeks with the respective Financial Institutions. The outcome of your application is of utmost importance to us. Rest assured that Reliance Advisory will follow through with all your applications seriously and closely.

Does Reliance Advisory’s consultation end after a successful application?

At Reliance Advisory, your finance is our priority. We aim to build a long term relationship with you. You are always welcome to seek advice/consultation from us regarding any requirements anytime.

Can I apply with multiple Financial Institutions at the same time?

The answer is yes.
Unless if your company have fully utilized the S$3 Million, the Temporary Bridging Loan Programme (TBLP) allowable for each borrower is up to S$3 Million. If your company can cushion the loan exposure, application to multiple financial institutions will not be an issue.

Will concurrent application to multiple financial institutions affect the outcome of my result?

This is a common misunderstanding among many business owners. The result is subjected to the individual bank’s lending criteria and discrete assessment on your company. However, in Reliance Advisory, our consultants have experienced and dealt with different type of companies ranging from different industries before. They will provide you with the right advice and solutions along the way.

Is the Temporary Bridging Loan Programme (TBLP) interest rate considered high?

-The answer is no.
Considering a S$100,000 TBLP loan, an average interest cost per year would sum up to approximately S$2,380/year. At Reliance Advisory, our consultants will do their part to negotiate the lowest rate in the market for your company.