GXS Bank and Funding Societies Partner for S$2M Property-Backed Loans to Empower Singapore SMEs

GXS Bank has partnered with Funding Societies to introduce the GXS Biz Property-backed Loan, targeting SMEs in Singapore.

This new financing product enables businesses to secure up to S$2 million ($1.57 million) using residential or commercial property as collateral.

Partnership Synergies

The collaboration merges GXS Bank's robust balance sheet and ecosystem connections with Grab and Singtel alongside Funding Societies' digital lending expertise.

Initially, the loan targets existing customers of both companies and SMEs linked to the Grab and Singtel ecosystems.

Leadership Perspectives

Pei-Si Lai, Group CEO of GXS Bank, stated that the product helps SMEs convert illiquid property assets into vital liquidity for growth amid financing hurdles.

Kelvin Teo, Co-Founder and Group CEO of Funding Societies, noted the partnership's role in delivering timely, structured financing during market uncertainties.

Broader Impact and History

This initiative tackles persistent SME financing gaps in Singapore, where businesses form the economy's backbone but often lack affordable options.

GXS Bank, supported by Grab and Singtel, has evolved from digital banking roots to foster ecosystem-wide fintech innovations.

Funding Societies brings years of experience in Southeast Asian SME lending, enhancing structured solutions for asset-rich firms.

Future Rollout and Outlook

The loan will roll out progressively, expanding access to more SMEs and unlocking property-tied capital for cashflow and expansion.

Looking forward, such partnerships signal a maturing fintech landscape poised to drive sustainable SME growth in Singapore.