{"id":41957,"date":"2024-07-10T01:50:00","date_gmt":"2024-07-10T01:50:00","guid":{"rendered":"https:\/\/eodishasamachar.com\/en\/2024\/07\/10\/linkflow-capital-sme-loan-interest-rates-spike-to-8-16-in-2023-average-loan-quantum-drops-42\/"},"modified":"2024-07-10T01:50:00","modified_gmt":"2024-07-10T01:50:00","slug":"linkflow-capital-sme-loan-interest-rates-spike-to-8-16-in-2023-average-loan-quantum-drops-42","status":"publish","type":"post","link":"https:\/\/eodishasamachar.com\/en\/2024\/07\/10\/linkflow-capital-sme-loan-interest-rates-spike-to-8-16-in-2023-average-loan-quantum-drops-42\/","title":{"rendered":"Linkflow Capital: SME Loan Interest Rates Spike to 8.16% in 2023, Average Loan Quantum Drops 42%"},"content":{"rendered":"<p> \n<\/p>\n<div lang=\"en\">\n<p>        SINGAPORE<b> <\/b>&#8211;<br \/>\n<a href=\"https:\/\/www.media-outreach.com\/\" rel=\"sponsored\">Media OutReach Newswire<\/a> &#8211; 10 July 2024 &#8211; Linkflow Capital&#8217;s annual SME financing research shows a significant tightening of credit conditions for Singapore SMEs in 2023, with average loan quantum dropping 42% to $130,000 from $224,000 in 2021.<\/p>\n<p>The study, based on data from 2,466 unique users of Linkflow Capital&#8217;s SME loan comparison portal, reveals that average business loan interest rates spiked to 8.16% in 2023, the highest in a decade and more than triple from the lowest rate of 2.50% recorded in 2020 during the pandemic.\n<\/p>\n<p>&#8220;We are witnessing a marked shift in the SME financing environment, with the sharp rise in borrowing costs and decrease in loan quantum reflecting the challenging financing landscape SMEs faced in 2023,&#8221; said Benjamin Teo, spokesperson for Linkflow Capital. &#8220;This trend is driven by the unwinding of pandemic-era support measures and the broader high interest rate environment.&#8221;\n<\/p>\n<p>Key findings from the 2023 survey include:\n<\/p>\n<ul>\n<li>\n    Increased Borrowing Costs: The average SME business loan interest rate reached a high of 8.16% per annum in 2023.\n  <\/li>\n<li>\n    Reduced Loan Quantum: The average loan quantum approved decreased to $130,236 in 2023, continuing a downward trend from $184,345 in 2022.\n  <\/li>\n<li>\n    Revenue profile of users improved slightly: Increased proportion of users in higher revenue brackets. 50% of users reported annual revenue below $300K (down from 57% in 2022).\n  <\/li>\n<li>\n    Digital banks gaining traction: Digital banks&#8217; share of loan origination within Linkflow&#8217;s platform rose to 17%, a more than 3-fold increase from 5% in 2022.\n  <\/li>\n<\/ul>\n<p>\nLooking ahead, Linkflow Capital expects interest rates to remain elevated throughout 2024, with a gradual decline potentially from mid-2025. The firm also anticipates the new digital banks to continue increasing their market share in SME lending, though unlikely to make a major dent to incumbent local banks&#8217; loan books.<\/p>\n<p>For detailed figures and data on Linkflow Capital&#8217;s research survey, visit<br \/>\n<a href=\"https:\/\/smeloan.sg\/blog\/2023-sme-finance-accessibility-survey\" rel=\"sponsored\">https:\/\/smeloan.sg\/blog\/2023-sme-finance-accessibility-survey<\/a>.\n<\/p>\n<p><a href=\"https:\/\/smeloan.sg\" class=\"social-media-link\"><img loading=\"lazy\" style=\"margin-right: 7px;vertical-align: middle;display: inline-block !important;width: 24px\" src=\"https:\/\/release.media-outreach.com\/Release\/templates\/images\/socialMedia\/generic_link.png\" width=\"24\" height=\"24\" data-no-lazy=\"1\"\/>https:\/\/smeloan.sg<\/a><br \/><a href=\"https:\/\/sg.linkedin.com\/company\/linkflow-capital-pte-ltd\" class=\"social-media-link\"><img loading=\"lazy\" style=\"margin-right: 7px;vertical-align: middle;display: inline-block !important;width: 24px\" src=\"https:\/\/release.media-outreach.com\/Release\/templates\/images\/socialMedia\/iconmonstr-linkedin-1-24.png\" width=\"24\" height=\"24\" data-no-lazy=\"1\"\/>https:\/\/sg.linkedin.com\/company\/linkflow-capital-pte-ltd<\/a><br \/><a href=\"https:\/\/x.com\/LinkflowCapital\" class=\"social-media-link\"><img loading=\"lazy\" style=\"margin-right: 7px;vertical-align: middle;display: inline-block !important;width: 24px\" src=\"https:\/\/release.media-outreach.com\/Release\/templates\/images\/socialMedia\/iconmonstr-twitter-1-24.png\" width=\"24\" height=\"24\" data-no-lazy=\"1\"\/>https:\/\/x.com\/LinkflowCapital<\/a><br \/><a href=\"https:\/\/www.facebook.com\/LinkflowCapital\/\" class=\"social-media-link\"><img loading=\"lazy\" style=\"margin-right: 7px;vertical-align: middle;display: inline-block !important;width: 24px\" src=\"https:\/\/release.media-outreach.com\/Release\/templates\/images\/socialMedia\/iconmonstr-facebook-1-24.png\" width=\"24\" height=\"24\" data-no-lazy=\"1\"\/>https:\/\/www.facebook.com\/LinkflowCapital\/<\/a>            <\/p>\n<p><b>Hashtag: <\/b>#LinkflowCapital<\/p>\n<p>\n            <em>The issuer is solely responsible for the content of this announcement.<\/em>\n        <\/p>\n<p>        <img loading=\"lazy\" src=\"http:\/\/track.media-outreach.com\/index.php\/WebView\/311236\/4121\" alt=\"\" width=\"1\" height=\"1\" style=\"width:1px;height:1px;\"\/>\n    <\/div>\n\n<br \/><a href=\"https:\/\/www.media-outreach.com\/news\/singapore\/2024\/07\/10\/311236\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>SINGAPORE &#8211; Media OutReach Newswire &#8211; 10 July 2024 &#8211; Linkflow Capital&#8217;s annual SME financing research shows a significant tightening of credit conditions for Singapore SMEs in 2023, with average loan quantum dropping 42% to $130,000 from $224,000 in 2021. The study, based on data from 2,466 unique users of Linkflow Capital&#8217;s SME loan comparison &hellip;<\/p>\n","protected":false},"author":1,"featured_media":41958,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[60],"tags":[],"_links":{"self":[{"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/posts\/41957"}],"collection":[{"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/comments?post=41957"}],"version-history":[{"count":0,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/posts\/41957\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/media\/41958"}],"wp:attachment":[{"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/media?parent=41957"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/categories?post=41957"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/tags?post=41957"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}