BUSINESS TERM LOAN SINGAPORE
Get a Business Term Loan to Support your business’s daily operations, fund your expansion plans and fulfil your current project cashflow needs.
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BUSINESS TERM LOAN SINGAPORE
A Business Term Loan for your day-to-day operations, business expansion or contingency for your working capital in Singapore.
Business Term Loans in Singapore may be used to benefit your business in a multitude of ways, such as to purchase fixed assets like equipment for production processes.
These pieces of equipment will begin to prove a constant stream of revenue for your business while your loan is being repaid. Be it for property expansion, investment injection, or new technology implementation, Bizsquare provides you easy access to additional funds, from Temporary Bridging Loan to Working Capital Loans to property secured loans, so that you can fully focus on growing your business.
In this case, Business Term Loan refers to a loan where the Banks and Fi do not get any support from the government scheme and lend out to the respective SME based solely on their own internal risk and funding capacity.
Therefore, they are of a higher interest rate than the government-supported business loan.
Borrow as much as SGD500,000 at attractive interest rates for up to five years with this collateral-free loan.
WHY SMES CHOOSE BUSINESS TERM LOAN?
OPEN TO ALL BUSINESSES
Including companies that don't qualify for government-assisted loans.
BORROW UP TO SGD 500,000
Support your operational expenses or business expansion Loan amount is approved based on the bank's assessment.
TAKE UP TO 5 YEARS TO REPAY
Enjoy a flexible repayment period of 1 to 5 years.
DOCUMENTS TO PREPARE
- Latest 2 years Financial Statement
- Latest 2 years NOA of director
- Last 6 months company bank statement
- Invoices/ Aging list (if applicable)
- Credit Bureau Report
OTHER TYPES OF BUSINESS LOANS THAT
BIZSQUARE CAN APPLY
TEMPORARY BRIDGING LOAN
The Temporary Bridging Loan Programme (TBLP) provides access to working capital for
business needs. As announced at Supplementary Budget 2020, eligible enterprises may
borrow up to $3 million under the TBLP, with the interest rate cap at 5% per annum, from
Participating Financial Institutions (PFIs). The Government will provide 70% risk-share on
WORKING CAPITAL LOANS
SME Working Capital Loan Singapore is a loan used by companies to cover day-to-day operational expenses in Singapore.
To support viable SMEs that may have cash flow concerns or wish to continue growing their business, the Government has introduced a new SME Working Capital Loan scheme, for loans of up to S$300,000 per SME. Under this scheme, the Government will co-share 50% of the default risk of these loans with participating financial institutions, to encourage lending to SMEs. This will help SME pay a lower amount of interest.
Trade Loan covers enterprises’ domestic and overseas transactions. It also complements the current Loan Insurance Scheme (LIS) by insuring loans which are beyond the capacity of current LIS insurers.
Commercial real estate financing is very different from home financing. In home financing, the transaction is based on the value of the home at the time of the sale. When taking financing for your commercial property purchase, the financial institutions will base it on the value of the business in the future and look at your business profit and cashflow. In addition, commercial real estate financing can take on very different terms.
A commercial or industrial property loan bears the lowest interest among all SME financing facilities.
Although property loan is considered less risky to the bank versus unsecured business loan, the banks do assess the company’s repayment ability as well.
Banks usually can finance up to 80% of the purchase price of the property or current market valuation, whichever is lower.
Many savvy SME bosses with commercial and industrial properties will also use their property as collateral for business financing.
If you are considering purchasing your own commercial/ industrial property, do note to apply for financing first before committing the option to purchase to seller. This is to gauge the maximum financing amount your company is eligible for without risking the loss of your deposit.