Business Line of Credit: Pay suppliers with Aspire

Written by
Marissa Saini
Last Modified on
June 5, 2024

Are you looking for a business line of credit to finance your inventories? Or looking for funds to pay your suppliers ASAP with no fuss? We're glad you found us! Before that, allow us to briefly introduce ourselves.

Meet Aspire

Aspire is a revolving credit line for SMEs and startups. We provide a business line of credit of up to S$150,000 to solve their working capital needs. Our goal is to provide business owners with fast and simple access to the funding they need. We provide 3 different services in which businesses can access their funds: Credit Line, Pay and Get Paid.

Aspire provides a business line of credit for SMEs of up to $150k.
What your Aspire dashboard will look like
  1. Credit Line - Drawdown any amount within your limit and receive funds to your bank within 24 hours. More about this here.
  2. Pay - This is what we are going to discuss in this article. Aspire will pay your suppliers on your behalf minus the 2.9% transaction fee while you can enjoy a 60-days interest-free to pay Aspire later
  3. Get Paid - This works the other way around of how 'Pay' works. You will receive an upfront invoice payment from Aspire, on behalf of your customers. More details about this here.

Business Line of Credit: Aspire Pay

Now that you have known us better, let's take a look at the short clip below for a better overview of what Aspire Pay is and how it works:

Aspire Pay explained in less than a minute

Aspire Pay is one of Aspire's business line of credit service in which business owners can access funds within their credit limit to pay suppliers. Unlike other traditional loans, Aspire's services are simple, prompt and fuss-free!

Aspire: business credit line of up to $150k within 24 hours with 100% online and no processing fee for SMEs
Why your business should Aspire with us

Interested to get a business line of credit with us? The 3 simple steps will guide you to get your business funds and the whole process from registering an account to paying your suppliers will only take 24-48 hours!

Applying for Business Line of Credit

1. Sign up for an Aspire account

First of all, head on to our website and click Get Started. Or simply click here and fill out your details to register now. Your supplier needs to create an account too to receive your payment. It's free and simple! Registration can be completed in 5 minutes!

Sign up Aspire Account in 5 minutes to receive business credit line of up to $150k
Sign up for Aspire Account in 5 minutes

Check on whether your business is eligible for Aspire Pay before you signing up:

  1. Eligibility criteria for an Aspire account
  2. Eligibility criteria for credit limit

There will be documents that you need to upload as part of the verification process after registration. However, if you integrate your Lazada, Shopify, Xero or Quickbooks account when registering for an AspireAccount, there will be fewer documents to upload and will save even more of your time!

2. Pay your supplier

Second, you will be eligible to start paying your suppliers once your Aspire account is approved. And don't worry, you’ll get to preview your interest rates and monthly repayment schedule before you commit to a loan! Here is how:

3 simple steps to pay your suppliers with Aspire
Pay your supplier within 24 hours
  1. Log in to your AspireAccount
  2. Click on PAY
  3. Input your seller's e-mail and the amount you want to pay
  4. Click confirm and voila!

Aspire will pay your suppliers on the same day once your customer accepts your request.

3. Pay Aspire later

Finally, after completion of the transaction, you can pay to Aspire anytime within the first 60 days, free of interest. Hence, to summarize, this how Aspire Pay works. Fast, simple, fuss-free!

Fund large purchases with 60 days interest-free when your supplier accepts payment via Aspire.
Aspire provides a simple process to pay your suppliers in less than 2 days process

Business line of credit with Aspire

Founded in January 2018 by former Lazada executives, we are backed by leading venture capital firms and private investors. We are proud to enable small businesses to grow by solving the issues of cash management which a lot of small businesses were facing in the growing e-commerce industry.

Unlock a credit line up to $150k with Aspire Today
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Frequently Asked Questions

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About the author
Marissa Saini
is a seasoned writer and an avid trendspotter across business finance, personal finance, travel and lifestyle industries. With writing history at SingSaver, INK, and ohmyhome, Marissa leverages her broad range of experiences to simplify finance and make readers financially savvy.
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