SME Business Loan in Singapore | Quick Cash Flow Boost For Your Firm
Affordable rates
Quick funds in 15 minutes
2-min walk from Ubi MRT
Growing A Business? Our Business Loan in Singapore is Perfect For You
In the fast-paced world of business, having quick access to capital is crucial for seizing timely opportunities and ensuring stability. A business loan in Singapore is a powerful financial tool known for its versatility and speed.
Whether you’re looking to expand your operations, manage cash flow, or invest in new equipment, a business loan provides a legal and transparent way to obtain the funds you need quickly. Is it easy to apply for a business loan in Singapore? Most of the time, yes. With an efficient application process and fast disbursement of funds, a business loan offers a reliable solution you can count on to meet all your company’s financial needs with confidence and ease.
What Is an SME Business Loan in Singapore?
As its name suggests, an SME business loan in Singapore caters to business entities and companies that require additional funding to run or maintain their businesses. These business loans for SMEs provide firms with the necessary funds to realise their budding business dreams, while others need the funds for growth and expansion. Simply put, SME loans in Singapore support various aspects of business activities.
Why Would You Need an SME Business Loan in Singapore?
Get a Lump Sum Instantly
SME business loans in Singapore are paid out as a lump sum to the borrower, minus any loan administrative charges — which is what makes it so accessible.
Fund Any Purpose
While there are many forms of business loans in Singapore that cater to different business needs, the most straightforward and versatile business loan allows business owners to use the money however they deem fit.
Customisable Loan Tenures
When it comes to business loans in Singapore, we’re more than happy to discuss and customise your repayment schedule; your financial well-being is our top priority.
Collateral-Free
Such SME loans in Singapore are typically collateral-free, or unsecured, with predetermined money lender interest rates, fees and charges. This lets you repay a loan without worrying about losing your assets.
Get a Lump Sum Instantly
SME business loans in Singapore are paid out as a lump sum to the borrower, minus any loan administrative charges — which is what makes it so accessible.
Fund Any Purpose
While there are many forms of business loans in Singapore that cater to different business needs, the most straightforward and versatile business loan allows business owners to use the money however they deem fit.
Customisable Loan Tenures
When it comes to business loans in Singapore, we’re more than happy to discuss and customise your repayment schedule; your financial well-being is our top priority.
Collateral-Free
Such SME loans in Singapore are typically collateral-free, or unsecured, with predetermined money lender interest rates, fees and charges. This lets you repay a loan without worrying about losing your assets.
Why Engage 96BM Credit for a Business Loan in Singapore?
Besides our SME business loans in Singapore, we offer many other loan packages as well — from instant loans and private personal loans to monthly loans and debt consolidation loans — and they’re offered with various perks:
Speedy loan approval in just 15 minutes
Fully legal loans, as the Moneylenders Act governs us
Enjoy the customer experience — from getting a free credit report from the Credit Bureau Singapore to receiving advice on managing your debts
1
Apply
Send us the completed loan application form.
2
Results
We’ll update you with the application results ASAP upon reviewing.
3
Funds
The loan disbursement will be given to you in as little as 15 minutes.
SME Business Loans in Singapore — Frequently Asked Questions
How does a business loan in Singapore work?
The loan instalments are repaid over a fixed period of time (i.e. loan tenure). Each instalment is a fixed amount comprising payment towards the loan principal as well as interest. Should the borrower make a late payment or fail to make a payment, late interest charges and late payment fees will apply.
What are the benefits of an SME loan in Singapore?
Businesses usually require financial support in three main cases: when they expand beyond their expectations, when they have to support a certain business decision or when they need to overcome temporary difficulties. In such situations, having prompt access to credit can make or break the business.
Here are some common uses of SME loans in Singapore:
- Pay bills and salaries.
- Hire talents.
- Expand an existing business.
- Invest in more or better equipment.
- Relocate to a bigger office.
- Tackle rising business costs.
- Finance intellectual property protection.
- Start a new business.
Where can I get a business loan in Singapore?
You can get a business loan in Singapore from a registered money lender, or traditional banks and financial institutions.
Who can get a business loan for SME?
All registered companies in Singapore are eligible to apply for a business loan with us, provided all necessary documents are in place and the eligibility criteria are met. Our business loans are not dependent on your credit score, no matter the loan sum you’re looking to borrow! Additionally, our business loans for SMEs require no collateral, a guarantor, or a deposit.
What is needed to qualify for an SME loan in Singapore?
In general, you’ll need the following documents when applying for an SME loan in Singapore with an authorised lender like 96BM Credit:
- The business file of the company
- The bank statements of the company (last six months)
- Copies of the identity cards (front and back) of all directors and shareholders
- Financial reports from the last two years
- IRAS Notice of Assessment for all directors and shareholders
- CBS credit report of all directors and shareholders (available at http://www.creditbureau.com.sg)
- Staff CPF contribution statement for the current month (if any)
- Foreign levy statement for the current month’s (if any)
- Tenancy agreement (if any)
How long does it take to process a business loan application?
The processing time for a business loan application varies widely. Here at 96BM Credit, it can take up to 5 – 7 working days, depending on your loan amount and the accuracy of all necessary documents.
Throughout your loan journey with 96BM Credit from start to finish, rest assured, our team of professional and friendly loan officers will be around to support you, providing guidance and answers to any questions you may have regarding your SME business loan.
Why should I choose 96BM Credit’s SME loan in Singapore?
96BM Credit is a legal provider of SME loans in Singapore. We are a licensed lender registered with the Ministry of Law’s Registry of Moneylenders.
As one of the most established and highly rated business loan providers in Singapore, we are proud to support your firm in its endeavours. We offer a quick and easy loan process, transparent fees and interest rates, top-notch customer service and speedy loan disbursement. Of course, our business loan solutions are tailored to every specific need.
Let us fund your business while you dazzle your clients
While you focus on impressing your clients with a new office or system, we’ll help fund you throughout this entire process. Find out how!