GXS Bank has partnered Funding Societies to launch the GXS Biz Property-backed Loan. The facility offers Singapore SMEs financing of up to S$2 million.

The loan is aimed at business owners who have residential or commercial property and need financing for growth, cash flow or time-sensitive business needs.

The GXS Biz Property solution brings together the bank’s ecosystem reach and Funding Societies’ experience in digital SME financing and structured lending.

GXS Bank is backed by Grab and Singtel. Meanwhile, Funding Societies provides digital financing to SMEs across the region.

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 rolled out progressively. It will initially be available to existing GXS Bank and Funding Societies customers, as well as SMEs within the Grab and Singtel ecosystem.

This includes businesses that use, work with or partner with Grab and Singtel.