Debt collection singapore
Case Study #026: $75,000 Startup Loan
An investor, captivated by the promise of a tech startup, lent SGD $75,000 to a young entrepreneur with a vision to transform the industry. There was no written agreement—just trust and verbal assurances that repayment would commence once the startup turned profitable. For two years, the entrepreneur sent glowing updates about the business’s progress, reassuring the investor. However, in the third year, communication stopped abruptly. Soon after, the investor discovered the business had folded.
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