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Biggest mistake made by business owners when approaching a loan

There are many businesses that will apply for a loan at the last minute when their cashflow has run dry. This could be a matter of pride and hope they could steer through tough times on their own or simply the thought of having to pay interest for a loan if they had no choice.

This common practice is evident of terrible or no planning. It places the business at the brink of collapse and increases the challenge of pulling it out of trouble. Many business owners believe they could qualify for a loan considering the healthy performance of their business up until their current financial situation. This often leads to insufficient affordability for a loan size they need.

At Sqale Finance, we take an advisory approach in educating our clients about how they should approach loans for their business. Awareness of these products will provide a clear understanding for self-employed clients in how to leverage finance to its full potential. This will allow strategic use of finance to scale a business with increase in revenue and profits.

We encourage business owners to review finance options ahead of time so they can be strategic in planning how they can grow their business. This process, like a financial health check, will provide benchmarks as to loan size, affordability, and cost of funds.

“Don’t wait until you NEED a loan, by that time, it’s often too late” – Yuan Chong, Finance Partner SQALE

  • "Dedicated"


    I was really impressed by Yuan's dedication and professionalism. One thing makes him standing out from others is he genuinely trying to help you, not only a one-way or once off sales push.

  • "Trustworthy"


    Yuan is a trustworthy professional who takes the time to nurture relationships and who takes his service seriously. He has strong expertise in his field and I look forward to doing more more business together.

  • "Pro-active"


    In my dealings with Yuan I always found him to be pro-active with his dealings for our clients and his ability to help find solutions was second to none.

  • "Reliable"


    Yuan has been a reliable source of information in the SME business lending space. He has always been very good at communicating, whether it’s discussing additional requirements, new product offerings or alternative solutions for a number of my clients. Highly recommended

  • "Memorable"


    Yuan is memorable and worthwhile. I love working with Yuan as I feel a genuine passion, energy and desire for connection. Looking forward to each and every interaction with Yuan for a long time ahead!

  • "Fantastic"


    Yuan is fantastic to deal with and always has time for his clients. Nothing is ever too much and he will always make you feel appreciated.

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*Our reviews are conducted internally without a credit check. This does not guarantee a full approval by a lender. All final approvals are subject to a formal application and assessment by our panel of lenders.

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