GXS Bank has partnered with Funding Societies to launch a new loan called the GXS Biz Property-backed Loan. This loan allows small and medium businesses (SMEs) in Singapore to borrow up to S$2 million.
The loan is designed for business owners who own a house or commercial property and need money for business growth, managing cash flow, or urgent needs.
This solution combines GXS Bank’s strong network with Funding Societies’ experience in digital financing for SMEs.
GXS Bank is supported by Grab and Singtel, while Funding Societies helps small businesses across the region with digital loans.
Pei-Si Lai, Group CEO of GXS Bank, said, “For business owners with a residential or commercial property, they can now turn this illiquid asset into up to S$2 million of liquidity to seize time-sensitive growth opportunities. This partnership with Funding Societies also reinforces our commitment as a bank to support the fintechs in our community so that they can continue to scale sustainably. With our strong balance sheet as a bank and extensive ecosystem with Grab and Singtel, we can enhance and extend Funding Societies’ expertise in digital lending to more businesses in Singapore, especially those within our ecosystem.”
Kelvin Teo, Co-founder and Group CEO of Funding Societies, said, “This collaboration with GXS Bank brings together GXS Bank’s ecosystem playbook and Funding Societies’ digital financing experience to make property-backed financing more accessible to businesses navigating an increasingly uncertain market. By unlocking liquidity tied up in property, SMEs can move more quickly on growth opportunities while managing cash flow with greater confidence.”
The GXS Biz loan will be introduced step by step. At first, it will be offered to existing customers of GXS Bank and Funding Societies, as well as small businesses connected to the Grab and Singtel network.
This includes businesses that use their services, work with them, or are their partners.
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