BUSINESS LOANS

Get Best Business Loans in Singapore to Grow Your Business

Business Loans in 3 EASY Steps

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Answer a few simple questions.
2

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3

GET FUNDED

Get business loan approvals in 48 hours.

Browse Our Loan Products

Business Term Loan

Exactly like the traditional idea of a bank loan, business loans is a sum of money that is lent to a business, which you repay over a span of up to 5 years.

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Maximum Loan Amount

$50,000 to $1,000,000

Term

1 – 5 years

Interest Rates

3.2 – 4.4% per annum

Speed

2 weeks

Personal Loan

Personal loans can be a great alternative to a business loan in Singapore. If you are running a startup business and have not built up solid financial records, a corporate loan Singapore can be difficult to obtain. Personal loans can often have lower interest rates than an sme business loan as well.

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Maximum Loan Amount

Up to $1,000,000

Term

1 – 5 years

Interest Rates

4.98 – 6.88% per annum

Speed

1 week

Working Capital Loan

The SME Working Capital Loan is a financing movement by Enterprise Singapore to help companies gain access to an unsecured business loans.

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Maximum Loan Amount

$50,000 to $300,000

Term

1 – 5 years

Interest Rates

3.2 – 4.4% per annum

Speed

2 weeks

Micro Loan

Launched as a government initiative for Small Medium Enterprises (SMEs), its purpose is to encourage easier access to small business loan Singapore.

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Maximum Loan Amount

$50,000 to $100,000

Term

1 – 5 years

Interest Rates

3.2 – 4.4% per annum

Speed

2 weeks

Start Up Business Loan

At very low interest rates, this start up business loan Singapore is ONLY available to medical professionals (Doctors, Dentists) who want to start up or expand their medical practice. Approvals within 7 days.

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Maximum Loan Amount

$50,000 to $100,000

Term

1 – 5 years

Interest Rates

3.2 – 4.4% per annum

Speed

2 weeks

Apply to the Best
SME Loan Singapore
with Capable Loans Today!

How to Qualify for the Best Business Loans in Singapore?

With so many SME business loan Singapore in the market, where do you get started?

Which bank loan for business is best for you?

Let these steps guide you.

Why Do You Need an SME Loan?

Before getting SBA loans for your business, you should assess the financial situation of your business to determine if you really need the additional funds.

Are you looking for a long-term loan or a short-term bullet loan? With a myriad of business financing options available, you should consider carefully in order to obtain the best source of business financing Singapore.

Getting the wrong type of SME business loan Singapore can have very adverse effects on the financial strength of your business. For instance, if you chose a short-term company loan Singapore for a long-term project, it can cause your business to run into unnecessary cash flow problems. It is important that you consider the objectives for getting a business bank loan singapore, and to match the time-span of the project with the term of the loan.

How Much Should You Borrow?

Once you have come to a decision on the tenure of the loan, then comes the part where you decide on a monthly installment amount that you are confident of repaying.

Based on the desired business loan interest rate and quantum, divide the total sum by the number of months in the tenure to see if it is a sum that your business cash flow can comfortably sustain.

Understanding the monthly commitments that your business has taken on is a good step to take in working out the financial position of your company. Having a clear goal of how much funding you require will help in the process of obtaining the funds you need.

Does Your Business Have Enough
Cash Flow For Monthly Repayments?

Lenders like to lend money to businesses that have money to pay them back. To assess a business’s ability to pay back an sme business loan singapore, lenders rely on various factors that articulate the financial strength of a business, such as the debt to equity ratio, financial statements that show revenues and expenses, and cash flow projections.

To ensure that you are sufficiently equipped, it would be wise to tabulate the total loan amount required and the interest rates, in order to know whether the business can sustain the monthly repayments comfortably.

What Are The Required Documents To Apply?

Required documents for assessments may vary from lender to lender. However, these are the few general documents that every financier will almost certainly need to process an application:

– Past bank account statements
– Profit and Loss statements
– Balance sheets
– Income tax returns of Directors
– Identification proof of Directors
– Information on existing debt facilities

We all know that paperwork can cause delays. Therefore, even though all the relevant documents will be requested for during the application, it would help to speed up the process significantly if all the proper documents were already ready.

An important part of the application process is to convince the lender that your business is ready to take on the loan, and that your business is also strong enough to repay it. Having all the relevant documents prepared will help to portray this. More often than not, there will also often be requests for additional documentation. As far as possible, always try to be prompt in providing them.

It is also important to note that for a company to be eligible for an SME loan in Singapore, there is a requirement for the company to have at least 30% local shareholding. Most banks will request for the Director or a shareholder in the company to provide personal guarantee for the term loan, where the guarantor must be either a Singapore citizen or Singapore PR.

business loans in Singapore
$49811699

LOANS SECURED

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369

COMPANIES FUNDED

Types of Business Loans:

Trade financing refers to the financing of commerce and international trade activities. Trade finance generally involves a revolving credit line that is used to finance the purchase of stocks, material and inventory. It includes the issuing of Letters of Credit (LC), Invoice Factoring, Export Credit, lending and Trade Credit Insurance.

Invoice financing refers to the financing of invoices that are payable on credit terms. It is mainly used for the purpose of tiding over short periods of tight cash flow, usually between 30 – 120 days.

Essentially, it is a process where a financier ‘takes over’ an invoice from the company that issued it, and advances to the company an amount of up to 80% – 90% of the invoice value. This will allow the company to have access to short term capital. When the tenure of the invoice has reached its dateline after 30 – 120 days, the debtor makes payment to either the financier or the company that issued the invoice.

Property financing refers to a wide range of financing activities that involve the use of a private or commercial property, from mortgage loans to property refinancing, or even to partial cash-outs on the value of a property. For SME loans, SME owners can also choose to secure it by pledging a property to the banks or financial institution as collateral, which also allows for lower interest rates.

Equipment Financing typically refers to the funding of fixed assets, such as heavy equipment or machinery. With an equipment loan, get to finance the cost of big business equipment by up to 90% of its cost, with a tenure of up to 7 years and at the best interest rates.

As a substitute for business loans in Singapore, personal loans can be a great alternative source of funding. Personal loans have a high approval rate, with turn around times (from approval to disbursement) as quick as 5 days. Get personal loans at the lowest interest rates, and in the fastest time with Capable Loans.