Banks gave restaurateur Prasad Raj the cold shoulder when he asked to borrow $50,000 to renovate his Indian vegetarian eatery in Syed Alwi Road, so he turned to a far more accommodating source of financing - crowdfunding.
He approached Funding Societies with his request in late 2017 and it lent him the money, which he paid back in just six months. It was a pleasing outcome after the banks rejected his loan application because he was considered too old.
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