Singapore Business Loans
SmartLoans.sg can help your business maximise its full potential by helping you secure the best business or SME loan in Singapore. Read more about the types of business & SME loans we handle below.
Micro Loans
For loan amount $100k and below, your company can apply for a micro loan to finance your expenses.
Micro Loan criteria – Company has to be established for more than 3 years and the turnover for the company should be a minimum of $350k.
Documents required for Micro Loan application
- 1 year financial statement
- Latest 6 months bank statements
- Latest NOA of all directors
- NRIC copies of all directors
Bridging Loans
Bridging loan is for companies that are applying for loan amount above $100k and the maximum cap is $2million.
Bridging Loan criteria – Company has to be established for more than 3 years and the turnover for the company must be more than $350k.
Documents required for Bridging Loan application
- 3 years financial statements
- Latest 6 months bank statements
- Latest 2 years NOAs of all directors
- NRIC copies of all directors
Business Installment Loans
This is for companies that are applying for loan amount above $100k and the maximum cap is $2million. It is advisable for companies that have made losses to apply for a business installment loan instead of a bridging loan.
Business Installment Loan criteria – Company has to be established for more than 3 years and the turnover for the company must be more than $350k.
Documents required for Business Installment Loan application
- Latest 6 months bank statements
- NRIC copies of all directors
Express Trade Facilities
Your company can apply for a trade related working capital loan for the following
- Letters of Credits
- Shipping Guarantees
- Overdrafts
- Short Term Loans
- Invoice Financing
- FX and Remittances
- Cross-straits Financing
- Various Government Schemes
Express Trade Facilities criteria – offers businesses packaged trade facilities with a quick turnaround time.
- Credit lines of up to 10 times the amount of security provided
- Late cut-off time of 6pm for import/export documents submission
- Guaranteed LC issuance / Notice of discrepancies by 9am the following working day
- Loan quantum of up to $1.5 million
Documents required for Express Trade Facilities
- 3 years financial statements
- Latest 6 months bank statements
- Latest 6 months debtors aging list
- Latest 6 months creditors aging list
- Latest 2 years NOAs of all directors
- NRIC copies of all directors
General guideline
If you would like to check if your company is eligible for a certain loan amount, you can calculate using the debt-servicing ratio below.
The debt-servicing ratio:
Monthly commitment of co. + Monthly commitment of director
Monthly income of co. + Monthly income of director
