Digital alternative financing platform SmartLend has officially launched in Singapore with the expressed aim of helping small and medium-sized enterprises ( SMEs ) overcome the barriers traditionally associated with securing financing by simplifying loan access for them.

The plafrom, by eliminating the need for third-party brokers and cutting unnecessary costs, it says, provides businesses with “a seamless digital solution for comparing and securing funding efficiently and transparently”.

For many SMEs, securing loans from traditional banks is a challenge due to strict credit requirements, the platform notes, while others struggle to navigate the alternative financing landscape. Often, these businesses turn to brokers who charge high fees of 3% to 7% or impose hidden fees.

The platform simplifies the process with a free-to-use platform that provides SMEs with a clear view of financing options, enabling them to secure the best available funding quickly and without extra charges.

As well, it integrates with Singpass and Credit Bureau Singapore, allowing for real-time financial data retrieval and reducing the time needed for loan applications from days of paperwork to just minutes.

The platform connects SMEs with a range of trusted lenders, providing transparent and cost-effective access to financing. By eliminating intermediaries, the platform ensures both businesses and lenders benefit from a more streamlined and efficient process.

Unlike traditional loan aggregators, the platform’s matching engine prioritizes the most cost-effective bank financing before recommending trusted alternative lenders, thereby ensuring that businesses get the best terms available.

“Our approach is simple: SMEs deserve a platform that works in their favour,” says Danny Phua, the platform’s CEO. “SmartLend empowers businesses to take control of their financing journey without unnecessary delays or extra third-party consultancy costs.

“Beyond business loans, the platform is expanding its financing options to include property equity term loans, offering SMEs an additional avenue to unlock capital using their assets. This enables businesses to fund operational needs with greater financial flexibility. Upcoming features include an instant property valuation tool and a document vault, allowing SMEs to track loans across multiple lenders in one place.”