Microloan
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Interest Rate
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Effective Interest Rate
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Repayment Per Month
(based on S$100,000 for 4 Years)
(based on S$100,000 for 4 Years)
Basic Info
Interest Rate
6.75%
Effective Rate
-
Loan Type
Microloan
Fees
Application Fee
S$0
Monthly Fee
S$0
Minimum Incorporation Period
2 Years
Features
Early Repayment with No Penalty
Top-Up for Existing Loan Available
Corporate Credit Card
Corporate Bank Account
Maximum Loan
Up to S$100,000
Minimum Loan
from S$50,000
Term
1 to 4 Years
Documentation
6 months Bank Statement
2 Years Profit & Loss Statements
2 Years Balance Sheets
2 Years Director's Notice of Assessment
Signed Application Form
Enquire
for your business financing
Types of Loans
Unsecured Business Term Loan
Financing for your business with no collateral required. The loan sizes can range from $50,000 to $400,000 per bank with installments ranging from 3 to 5 years. Yearly top-ups for existing loans are also available
An initiative by the Singapore government to boost productivity for SMEs in Singapore, this micro loan gives you up to $100,000 in financing with fixed monthly installments.
SME Working Capital Loan is a financing initiative by the Singapore government providing up to $300,000 in financing for Singapore firms. SMEs have an option to repay the SME Working Capital Loan at any period with no penalty and a pro-rated interest
Trade Financing allows businesses to purchase materials from their suppliers based on credit. With a letter of credit, they will be able to purchase up to their trade financing limit, paying a percentage of interest to the bank
Get an accurate and Updated Loan Advice from a team of loan specialists
Invoice Financing allows you to get up to 80% of your invoiced amount paid earlier. After successfully completing a sale, submitting the invoice to the financier gets you the invoiced amount instantly instead of waiting for the credit period.
SMEs can pledge their property held by the company for working capital to expand their business. A form of secured lending, the interest rates for this method of financing are significantly cheaper for property loans
Equipment Financing allows SMEs to purchase important items critical for their business on hire purchase or leasing. This allows them to unlock their cashflow to keep the business expanding while having the necessary equipment financing
About Business Loan
What can it be used for?
Business Loans are typically borrowed from Financial Institutions & Banks. They provide you with Working Capital for Business Growth.
Eligibility
Banks & Financial Institutions are stringent with their Credit Risk Analysis. As such, a company should ideally be more than 1 Year(s) old to qualify for the Business Loan.
Loan Tenure
Typically, Business Loans can be repaid within 1 to 4 Years.
Loan Quantum
Business Loans range from $100,000 to $500,000. Depending on the Credit Assessment & Strength of your Company, the Bank/Financial Institution will determine an Optimal Loan Amount that you qualify for.
Flexibility
With the Flexibility Nature of Business Loans, you are free to choose the span of your Loan Tenure that best suits your Business.
FAQ
- How much do I have to pay?
- LoanOwl compares rates for you free of charge
- How long will an application take?
- A LoanOwl representative will call you within 1 working day
- Is my data safe?
- Yes. LoanOwl doesn’t share your data and all information is kept strictly confidential
- Where is your office?
- We are located at 531A Upper Cross St, #04-95, Singapore 051531.
Wait ...
Our business loan consultants will call you within 1 working day and will compare with you the rates from the different banks at no obligation.
Did you know that LoanOwl saves you time by handling your entire business loan application from start to end.
Easy Way to Get Your Loan
Search Loan Options or Enquire Directly Here
A LoanOwl specialists will call you based on your selection
We work with you on for documentation
You relax, and let us get you financing
We contact you when business financing has been approved
FAQ
- How Long Does It take for a Loan To be approved?
- Depending on the application the loan approval process will take between 3 to 10 working days
- What is the interest rate that I can expect?
- For the Micro Loan scheme, you can expect an interest rate from 3.7% flat per annum. You can pay off the loan at any point of time and the interest will be pro-rated
- How do I know which loan I Quaify for?
- If you are a Singapore incorporated company, you can potentially qualify for business financing, no matter how long your company has been incorporated. To know your options simply enquire here or call us.
- Which lenders do you work with?
- We work with all local and foreign banks in Singapore, Private Financiers and other lenders.
- How do I get started with an application?
- Simply enquire here, or drop us a call.
