Business Term Loan Singapore

Business term loan Singapore

We offer Business Term Loan which designed to boost your company’s working capital.

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:

  • Character and business experience
  • Credit capacity
  • Financial statement of personal finances to assess your ability to repay
  • Collateral, which should be larger than the amount you’re borrowing,
  • Capital, and
  • Accuracy of your revenue and expense projections.

It is easy to apply, with fast processing time. Leave all the hassle and difficult explanations to us.

Click HERE to submit your loan enquiry now ! 

Business Loan Interest Rate in Singapore

Business loan interest rate differs from various banks and type of financing.

In general:

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 TypeInterest Rate (EIR)
Unsecured Business Term Loan from Banks10% – 13% p.a.
SME Micro Loan from banks6.5% – 7.5% p.a.
SME Working Capital Loan from banks6.5% – 7.5% p.a.
Trade Financing Line6.75% – 8% p.a.
Factoring / Receivables financing6% – 8% p.a.
Overdraft10% – 13% p.a.
Equipment/Machinery Loan5% – 8% p.a.
Commercial/Industrial Property Loan2% – 3.5% p.a.
P2P Crowdfunding/Alternative Funder1% – 5% /month

Frequently Asked Questions

What is the difference between effective (EIR) and flat interest rate?
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. 

Which bank has the lowest business loan interest rate?
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.

 

Are Business loan interest rates fixed or subject to changes?
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.

What is the business loan interest rate in Singapore?
Business loan interest rates ranges from between 7% to 13% p.a. effective rate. Each bank might have different interest rates and terms.






Bizsquare Enquiry