Need to bridge that cashflow gap for capital intensive projects, invest in product development, hire more staff or simply planning to expand your business?

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    SME Working Capital Loan Singapore (WCL) is a loan used by companies to cover day-to-day operational expenses in Singapore.

    Whether you are planning to develop new capabilities, create new products or expand your business footprint overseas, having access to the right financing is crucial to realise your growth ambitions.

    With effect from 29 Oct 2019, Enterprise Singapore’s existing financing schemes will be streamlined into one umbrella scheme known as the Enterprise Financing Scheme (EFS). EFS will enable Singapore enterprises to access financing more readily throughout their various stages of growth.

    Singapore Working Capital Loan (WCL) is one of the programs under this Enterprise Financing Scheme.

    To support visible Small and Medium Enterprises (SMEs) that may have cashflow concerns or wish to continue growing their business, the Government has revised their working capital loan amount.

    SMEs can access up to maximum of $500K working capital from October 2022 to March 2023.

    Under this scheme, the Government will co-share 50% of the default risk of these financing with participating financial institutions, to encourage lending to SMEs. This will help SMEs pay a lower amount of interest. While young enterprises (company incorporated within 5 years) may receive a risk share of 70%.

    The borrower is responsible to repay 100% of the lending amount. When defaults occur, the Participating Financial Institutions (PFIs) are obligated to follow their standard commercial recovery procedure, including the realization of security, before they can make a claim against Enterprise Singapore (ESG) for the unrecovered amount in proportion to the risk-share.

    There are 19 financial institutions participating in this scheme. Credit criteria & interest rates vary across the banks. We can provide you with a direct comparison on all banks’ SME WCL rates and eligibility terms.

    In Order to avoid having your SME Working Capital Loan rejected, Bizsquare helps you identify potential issues that might lead to a rejection and solve all the problems for you, so to ensure you have a higher chance of approval.

    Let us help you secure the funding you require under the SME Working Capital Financing to expand and scale your business.CL

    Tailored Loan Solutions for Commercial Properties in Singapore

    At Business Property Loan Singapore, we pride ourselves on our deep understanding of how crucial it is to find the perfect property to drive your business’s growth. No matter if you’re in the market for acquiring, refinancing, or even extending your commercial space, our array of adaptable loan solutions is specifically designed to cater to your individual requirements.

    Our team at Business Property Loan Singapore comprehends the significance of selecting the optimal real estate to propel your company’s advancement. Should you be considering buying, refinancing, or even embarking on the expansion of your commercial premise, our wide selection of pliable loan alternatives stands ready to fulfill your distinct needs.


    working capital loan singapore


    Access up to $300k to finance your cashflow requirements.

    working capital loan singapore


    Maximum repayment period 5 years. Most banks offer no early redemption penalty.

    working capital loan singapore


    50% government risk sharing. 70% risk sharing for young companies.


    These are some of the participating financial institutions that offer short-term financing for SMEs through Enterprise Singapore.

    sme loan singapore

    SME Working Capital Loan Interest Rates

    The interest rate for the SME Short-term finance in Singapore such as WCL differs from the various participating banks and financial institutions and is dependent on their risk assessment.

    Eligible companies can enquire with the various participating financial institutions on their SME
    WCL interest rates.


    Easy 6 steps process, here are what you need to do:

    business loan singapore

    STEP 1

    Submit the loan inquiry form.

    business loan singapore

    STEP 2

    We'll call you within 24 hours.

    Working Capital Loan Singapore

    STEP 3

    During the call, we'll find out More about you & arrange a free 30 min consultation with us.

    Working Capital Loan Singapore

    STEP 4

    We analyse your business, your financial situation, your cashflow gap and expansion plans.

    Working Capital Loan Singapore

    STEP 5

    Present to you our recommendation on what is the best solutions for your business.

    Working Capital Loan Singapore

    STEP 6

    Loan approved. Get the funding you require and solve your cash flow needs.


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    working capital loan singapore

    Local business registered and
    operating physically in Singapore.

    working capital loan singapore

    Minimum 30% ultimate ownership share holdings held by Singaporeans or Singapore PR(s).

    working capital loan singapore

    Group annual sales of <S$ 100m or group employment.

    working capital loan singapore

    Government risk sharing 50% to 70% with participating financial institutions. Borrowers are still liable for 100% of finance outstanding in event of default. Banks will proceed first with their standard commercial recovery process.


    working capital loan singapore


    Help your company secure financing fast! Reduce processing time by 3- 5 working days.

    working capital loan singapore


    Leave the application process to our Professional SME broker while you focus your resources on your core business.

    working capital loan singapore


    Improve your approval changes. We are very familiar with the business loan criteria of most banks with a solid track record of > 60% approval rate.

    working capital loan singapore


    No upfront fees, no fees applicable if we’re not able to secure financing for your company. Performance guaranteed. Pays only for results.


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    FAQ about Short-Term Financing for SMEs in Singapore

    1. Must be a Singapore registered SME company and at least 1 year in business.
    2. Annual turnover of $100K and more.
    3. Group employment size of not more than 200 employees. 
    4. Minimum 30% shareholding by Singaporean PR.

    The maximum small business loan funding amount differs among various banks and also depends on your company credit profile (revenue size, industry, cashflow position etc.).

    Most banks’ maximum financing amount granted to SMEs range between $300K to $500K. However, it is exceedingly hard to secure the maximum amount unless the company has close to perfect credit profile. If your main bank is not able to meet your requested financing amount, you can also apply across other banks concurrently to maximize the financing amount you’re targeting.

    1. Call and meet our consultants for professional advice.
    2. Bring the following supporting documents for the meeting;
    • Bank Statement
    • Financial Statements
    • Personal income tax assessment of owners and directors

    The typical turnaround time for SME loan application is 2 to 4 weeks.

    The turnaround time takes this long because:

    1. You may not be familiar with the documents required and the application process.
    2. You may have more back-and-forth communication with the banker to get the financing application right.

    If you managed to secure approval after the loan application review, you’ll have to wait for another 1 week for funds to be disbursed. So from application to receiving funds, expect a turnaround time of between 3 to 5 weeks. 

    For those who can’t afford to wait, alternative financiers such as P2P crowdfunding platforms is another viable option as they typically process applications faster, within 1 week is the norm. However, be prepared to pay for a higher interest rate or fees compared to bank options. 

    Most SME loan applications can be rejected due to multiple reasons, such as:

    1. Approaching the wrong banks
    2. Business owner’s personal credit profile
    3. Limits to financing for existing bankers
    4. Weak cash flow

    Imagine this scenario: You require funds urgently. Perhaps, to confirm bidding for a tender or seize an opportunity for a big project.

    Yet when your SME loan application is declined, you will either have to cancel or postpone this project. Your company’s expansion plan might be stalled due to the missed opportunity.

    Moreover, when your application is declined, you might not be able to submit another application to the same bank for the next 6-12 months!

    It is critical that you identify the right bank to seek financing with and to be able to address the bank’s credit concerns and queries adequately, to minimize rejections.

    There are various working capital loan products available to meet the different requirements of SMEs common SME loan facilities include:

    1. Unsecured business term loan
    2. Trade financing (Letter of Credit)
    3. Invoice Financing / Factoring
    4. SME Micro Loan
    5. SME Working Capital Loan

    How do you cut through the complexity and technical jargon to determine the most appropriate working capital loan to utilize?

    Through our expertise and experience in securing SME finance, we describe to you the various financing products in basic terms and explain how you can best utilize them for your business.

    There are close to 20 banks & financial institutions (FIs) providing small financing program to SMEs.

    Therefore, there is no definite answer to this because different banks have varying credit criteria and risk appetite.

    Do you know that some banks shun certain industries whereas other banks might welcome these same industries?

    However, most SMEs are not aware which banks are suitable for their respective profile and could waste their precious time speaking with banks that are not the right fit.

    Aside from traditional mainstream banks, there are also multiple alternatives financiers offering various financing options to SMEs.

    Assisting SMEs with business remains our core business.

    Due to our familiarity with the credit criteria of the various banks, we can help identify the most suitable banks for your company’s profile to ensure the highest chances of commercial loan approval at the best terms.

    If your personal credit rating is bad, your commercial loan application might be adversely affected. When you apply for an SME loan in Singapore, your personal credit record will usually be assessed by the relevant banks. Your personal credit record will thus affect your company loan approval chances as well. It is absolutely critical as a business owner to keep your personal credit score acceptable. Any negative impairments on your personal credit will adversely affect your business loan applications, making it next to impossible to obtain any form of business financing.

    Therefore, always be conscious to protect your personal credit grading by paying all your personal credit cards, home loan, car loan etc. on time. Settle any overdue payments promptly and be cautious not to over-extend your personal credit at all times.

    Yes, you can but options are very limited for new startups. Most banks do not provide start-up business loan for newly registered companies.

    Most banks lend on track record and would require applicant company to have at least 1 to 2 years of operational business history before considering extending financing.

    If your business is operational and at least 6 months old, a competent SME broker might still be able to help you secure business financing.

    However, expect very limited financing options for a start for very young companies and also smaller financing quantum. If you manage to secure any form of business loans, ensure prompt subsequent repayments to build up a good credit record for your company.

    As your business matures and coupled with a good credit record, it’ll be easier to source for financing in future from more banks, with more options.

    What is the SME loan Interest rate?

    The SME loan interest rate ranges between 3% to 5% p.a. effective interest rate. Different banks have different rates and rates are subject to respective banks' credit discretion.

    Which government-supported funding programs can SMEs apply for?

    SMEs can apply for the Temporary Bridging Loan or SME Working Capital Loan via the respective participating financial institutions.

    Is there startup SME loan available for new business and company?

    There are very limited financing options for new startups. Most banks prefer financing companies with minimum 1 to 2 years of operational history.

    How to apply for a SME loan?

    Businesses can apply for SME loans from a myriad of banks, financial institutions or alternative lenders. There are about 20+ SME financiers and many more financing products to choose from.

    Do I need to engage a SME loan broker?

    Engaging a business loan consultant is optional. If you're not familiar with bank's credit criteria, a competent broker might help improve approval chances and negotiable better terms.

    What is the SME loan eligibility criteria and requirement to qualify for financing?

    Every bank has different credit criteria. Generally, most banks require company to have a minimum 30% local shareholdings, at least 1 to 2 years old, and revenue of $200k minimally.