Call Us

6292 2629

Search
Close this search box.

All You Need To Know About Taking A Business Loan In Singapore

  • Home
  • Business Loan
applying loan

APPLY ONLINE

APPLY ONLINE

10 Best Small Business Loans in Singapore to consider

96BM Credit Pte Ltd

As a licensed money lender in Singapore under the Ministry of Law, 96BM Credit Pte Ltd offers the fastest loan approval in Singapore.

Loans are approved within 5 to 7 working days. We are obsessed with providing our customers the best support and customer service possible.

Unlike traditional banks that try to loan you money right off the gate, we will do our best to understand our financial situation and your requirements before we even propose a loan.

This would ensure that you are a good fit for a loan prior to getting one.

If you would like to contact 96BM Credit Pte Ltd, simply click here, or give us a call at 6292 2629

 

Maximum Loan Amount: >$300,000

Maximum Loan Repayment Period Allowed: 2 years

Minimum Interest Rate: 2.27% per month

Processing Fee Required: $0

Early redemption penalty: $0

Approval duration: 5 to 7working days

Apply For A Business Loan Now

DBS Business Loan​

Maximum Loan Amount: $500,000

Maximum Loan Repayment Period Allowed: Total of 5 years

Minimum Interest Rate: 10.88% Per Annum

Processing Fee Required: 2% of total loan amount (may or may not include interest rate)

Early redemption penalty: 2.5%

Approval duration: Anywhere between 3 to 6 months (from past clients’ data)

Apply For A Business Loan Now

OCBC Business Loan

Maximum Loan Amount: $500,000

Maximum Loan Repayment Period Allowed: Total of 5 years

Minimum Interest Rate: 10.88% Per Annum

Processing Fee Required:  2% of total loan amount (may or may not include interest rate)

Early redemption penalty: 2.5%

Approval duration: Anywhere between 2 to 4 months (from past clients’ data)

Apply For A Business Loan Now

UOB Business Loan

Maximum Loan Amount: $500,000

Maximum Loan Repayment Period Allowed: Total of 5 years

Minimum Interest Rate: 10.88% Per Annum

Processing Fee Required:  2% of total loan amount (may or may not include interest rate)

Early redemption penalty: 2.5%

Approval duration: Anywhere between 2 to 4 months (from past clients’ data)

Apply For A Business Loan Now

MayBank Business Loan

Maximum Loan Amount: $500,000

Maximum Loan Repayment Period Allowed:Total of 5 years

Minimum Interest Rate: To Be Decided By The Bank

Processing Fee Required: ~2-3%

Early redemption penalty: ~6-10%

Approval duration: Anywhere between 4 to 6 months (from past clients’ records)

Apply For A Business Loan Now

CitiBank Business loan

Maximum Loan Amount: $500,000

Maximum Loan Repayment Period Allowed:Total of 5 years

Minimum Interest Rate: To Be Decided By The Bank

Processing Fee Required: ~2-3%

Early redemption penalty: ~6-10%

Approval duration: Anywhere between 4 to 6 months (from past clients’ records)

Apply For A Business Loan Now

Standard Chartered Business Loan​

Maximum Loan Amount: $250,000

Maximum Loan Repayment Period Allowed: 5 years

Minimum Interest Rate: 3.88%

Processing Fee Required: ~2-3%

Early redemption penalty: ~6-10%

Approval duration: Anywhere between 4 to 6 months (from past clients’ records)

Apply For A Business Loan Now

RHB Business Loan​

Maximum Loan Amount: $500,000

Maximum Loan Repayment Period Allowed: 5 years

Minimum Interest Rate: 4~6%

Processing Fee Required: ~2-3%

Early redemption penalty: ~6-10%

Approval duration: Anywhere between 4 to 6 months (from past clients’ records)

Apply For A Business Loan Now

CIMB Business Loan​

Maximum Loan Amount: $500,000

Maximum Loan Repayment Period Allowed: 5 years

Minimum Interest Rate: 4~6%

Processing Fee Required: ~2-3%

Early redemption penalty: ~6-10%

Approval duration: Anywhere between 4 to 6 months (from past clients’ records)

Apply For A Business Loan Now

Hong Leong Finance Business Loan​

Maximum Loan Amount: $500,000

Maximum Loan Repayment Period Allowed: 5 years

Minimum Interest Rate: 4~6%

Processing Fee Required: ~2-3%

Early redemption penalty: ~6-10%

Approval duration: Anywhere between 4 to 6 months (from past clients’ records)

Apply For A Business Loan Now

Frequently asked questions about small business loans in Singapore

It’s anywhere between 8% to 10.88% per annum. It also largely depends on the loan amount.

The business file of the company, bank statements, copies of the identity cards, financial reports from the past two years, notice of assessment of all directors and shareholders along with the Credit Bureau Report of all directors and shareholders is required.

It could take between 5 to 7 working days depending on the loan amount.

96Credit Pte Ltd is one of the few moneylenders that have a quick approval time of between 5 to 7 working days for business loans in Singapore.

Apply For A Business Loan Now

Business Loans

Starting a business in Singapore today is both exciting and very challenging due to the highly competitive environment. Thanks to the internet, companies today can reach millions of potential clients, but even with that not all of them survive due to rising costs and various other local and global factors. The financial management is crucial for each company and should be handled professionally or backed up by business loans.

Companies 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, the bank loans might seem like the right choice, yet the practice shows that they usually take too long to process. Quicker alternatives are offered by Licensed Moneylenders, which require much shorter processing time.


What is a Business Loan?

Business loans are loans that are applied by companies and business entities and are granted in order to be used for running or for maintaining a business. The business loans are fixed sums borrowed for a certain period of time at a pre-arranged interest rate. Our business loans are collateral- free with an intention to provide financial relief for small businesses. The business loans are granted for different purposes aiming to support various aspects of the business activities and can be several types including cash advances, equipment lease or purchase loans, mortgage loans.

 

Business loans are more complicated in terms of payment and documents needed. Taking up a business loan is a lot more different than a regular personal loan, in terms of the documents required and eligibility. Business loan specialists working at our company are well experienced to offer the right business loan for your company’ needs. The business loan provided by 96 Credit Pte Ltd. is a loan without security or collateral; allowing companies to receive cash loan that can be paid back over agreed time along with the interest. It can be used for the expansion of an existing business or investing in a new one.

 

 

Why Should I Apply for a Business Loan?

Both small and large companies in Singapore apply for business loans and are guided through the application process by our experienced team. The business loans borrowed from 96 Credit has no limitation on where or how you prefer to spend the loan, as they will have to be returned in accordance with the agreed period of time. By missing to pay back the loan on time, the company may face a negative reflection on its credit report, which will make future applications for a loan very difficult.

Application for a business loan should be done only when there is a real need for money and only if the company is sure it will be able to pay back the loan on time. Some of the cases when a business loan application is advisable:

  • Payment of bills and salaries.
  • Expansion an existing business.
  • Investment in more equipment.
  • Relocation to a bigger office.
  • Start of a new business.

What is Needed to Quality for a Business Loan in Singapore?

All registered companies in Singapore are entitled to take a business loan. Most of the banks, however, have serious requirements that companies have to cover in order to be granted such loans. 96 Credit Pte Ltd. offers the best business loan terms in Singapore, with various types of business loans based on an easy qualification criterion.

The companies in Singapore are eligible to take up a business loan between 10k- 300k depending on the size of the business and the company requirements. They are required to fill out a loan application form in our loan office. The loan application is submitted in person in the office of the company. The required documents for application submission include:

  • 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
  • Notice of Assessment by all directors and shareholders
  • Notice of Assessment by all directors and shareholders
  • CBS report by 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 Can I Get a Business Loan in Singapore?

The loans are subject to approval, which can take up to 5-7 working days to process depending on the loan amount. Throughout the process, the company which is applying for a business loan is assisted by a team of professional and friendly loan officers. They ask clearance questions if needed. If all is agreeable, the loan officer prints out a contract to be signed.  

The business loan application is processed at the head office of the company. If not approved, the loan officers provide reasons and explain what is missing so that the company can reapply. Once the loan is approved, our team of experts contacts the company accordingly and arranges a meeting for picking up your cash loan from the respective office. The 96 Credit office is easily located at Southbank Condominium, along North Bridge Road. We at a walking distance from Lavender MRT (2 mins walk from Lavender MRT, take exit A).

 


Why Should I Choose 96 Credit Pte Ltd for a Business Loan in Singapore?

 

 96 Credit Pte Ltd. Is a licensed moneylender in Singapore, registered with the Ministry of Law and is among the most reputable business loan providers in Singapore. 96 Credit offers financial help to companies that want to sustain their business or enlarge it. Business loan solutions are tailored to every specific need.

96 Credit Pte Ltd. requires no credit score checks, regardless of the amount or type of the loan, no collateral, no guarantor and no deposit to take a loan with us. Our loan experts are certified and experienced professionals.

The interest rates at 96 Credit are as low as 4% per month. The interests are calculated and included in the contract and will be explained by the loan specialist. 96 Credit offers straightforward and easy application process, high approval rates, flexible repayment scheme, low-interest rates, as well as the professional loan officers make 96 Credit Pte Ltd. one of the most preferred business loan companies in Singapore.

Understanding small business loans in Singapore

Most businesses run into cash flow issues. More specifically, small businesses. 

You have arrived on this page because you are looking for small business loans in Singapore.

 

Let’s keep this simple.

 

You are in need of small business loans because you need cash flow to run your business.

 

That’s exactly what we offer.

 

Arguably Singapore’s leading moneylender that has the fastest loan approval time, you can never go wrong with 96 Credit.

 

Unlike traditional banks that take weeks or even months to have your loan approved, we can get your loan approved usually within 30 minutes.

 

Sounds ridiculous, but it’s true.


Simply click on the button below to apply for a business loan now.

Apply For A Business Loan Now

We are 96bm Credit, a licensed money lender in Singapore, who do not like to see people backed into tight corners, financially speaking. We provide financial help through cash loans.

Rating.sg-Featured-Partner-Badge

VISIT US

Blk 302 Ubi Ave 1, #01-31 Singapore 400302 (2 mins walk from Ubi MRT, Exit A)

OPENING HOURS

Monday – Friday 11.30am to 7.30pm
Saturday 11.30am to 7pm
Closed on Sunday and Public Holidays

Talk to us

6292 2629

(Look for Clara or Sim)

Copyright @ 2024 96BM Credit Pte. Ltd. All Rights Reserved. | License 46/2022 | Privacy Policy
product nation logo
Rating.sg-Featured-Partner-Badge
6292 2629

(Look for Clara or Sim)

Blk 302 Ubi Ave 1, #01-31 Singapore 400302 (2 mins walk from Ubi MRT, Exit A)

Copyright @ 2024 96BM Credit Pte. Ltd. All Rights Reserved. | License 43/2021 | Privacy Policy