An SME loan for your day-to-day operations, business expansion or contingency for your working capital in Singapore.
Enhance your cash flow and improve your day-to-day business operations with a Business Term Loan in Singapore.
Business Term Loan is designed to boost Singapore company’s working capital with attractive interest rates. Get business loan facilities to secure business opportunities, purchase office equipment, renovate your premises and more.
Borrow as much as SGD 500,000 at attractive interest rates for up to five years with this collateral-free loan.
We look into the following and help you to explain to the banks on the following information of your company:
It is easy to apply, with fast processing time. Leave all the hassle and difficult explanations to us.
Business loan interest rate differs from various banks and type of financing.
For unsecured loans without collateral, interest is usually higher compared to secured loan with collateral pledged to the banks. Below table shows the range of business loans interest rates for various SME loan products:
|Loan Type||Interest Rate(EIR)|
|Unsecured Business Term Loan from Banks||7% – 10% p.a.|
|Temporary Bridging Loan from Banks||2.5% – 5% p.a.|
|SME Working Capital Loan from banks||3.5% – 5.5% p.a.|
|Trade Financing Line||2.5% – 6.5% p.a.|
|Overdraft Facilities (OD)||5% – 8% p.a.|
|Equipment/Machinery Loan||3.5% – 6.5% p.a.|
|Commercial/Industrial Property Loan||1.7% – 2.7% p.a.|
|P2P Crowdfunding/Alternative Funder||1% – 5% /month|
Effective interest rates takes into account the compounding or reducing periods during a repayment schedule. Flat rate, commonly known as nominal or simple rate, only factors in the original principal factor and disregards the effects of compounding on a loan. Bank are instructed by the MAS to show all interest rate using EIR.
For unsecured term loan facilities, interest rates are typically fixed and not subjected to changes throughout the repayment period. For revolving facilities such as overdraft or trade financing, interest rates might be subject to revision on annual basis, based on prevailing rates.
Each bank might have different interest rates but there are many other factors that influence the rates quoted. This includes the credit profile of the borrower, industry nature and size of the loan quantum. 2 different companies might receive different rates from the same bank.
Business loan interest rates ranges from between 7% to 13% p.a. effective rate. Each bank might have different interest rates and terms.