Fixed asset is an accountancy term. It refers to assets and properties that cannot be very easily converted into cash. Examples of fixed assets are land, buildings, fixtures, fittings, plants and machinery (industrial).
Fixed Asset is a long term tangible piece of property that a firm owns and uses in the production of its income and is not expected to be consumed or converted into cash any sooner than at least one year's time. Fixed assets are also referred to as "plant".
What Is A Fixed Asset Loan
- A loan to purchase a fixed asset.
- The fixed asset being purchased secures the loan. The fixed asset becomes the collateral for the loan. Under any circumstances if the borrower cannot repay the loan, the lender could then take position of the fixed asset.
- When a business premises or a factory is being purchased, they can be mortgaged to the bank or lender. A mortgage is a type of Fixed Asset Loan.
Fixed Assets Loans In Singapore
Fixed Assets Loans In Singapore are:
Internationalization Finance scheme is for Singapore based companies, who would want to venture overseas. The Singapore based company or its overseas subsidiary can apply directly for the loans, provided the overseas venture is related to or complementing the business in Singapore and results in economic growth in Singapore. A loan amount of up to S$50 million can be availed to buy fixed assets or fund the overseas expansion.
Micro Loan programme is for small businesses. They can avail of fixed interest loans of up to S$100,000. Any enterprise registered or incorporated in Singapore, having between 30% and 100% of shareholders as residents of Singapore and having up to 10 employees. In addition the group fixed assets must be up to 15 million.
