Business Loan Comparison in Singapore
There are several channel to fund your business improvements and upgrades, through Bank by the help of government agencies.
Spring has Collaboration with several local banks to help Business owner to fund their Projects. For more information business owner can visit SME centre around which scatter around the Island of Singapore to approach a SME Advisor.
There are Scheme such as ICV /ISPRINT/PIC /ETSS / MLP etc ,
Business owners can use this schemes to upgrade capability in area such as improving productivity upgrading InfoComm, training employee .
What are the Type of Loans Available ?
SME Micro Loans
Supported by Sping Singapore,company can borrow funds to support their business operation cost back by government.
Banks included in the scheme such as DBS, UOB, OCBC, RHB, MAYBANK.
Eligibility to apply
Company register in Singapore and local equity sharing at least 30%.
Loan Specifications
- Maximum Loan Amount $100 000
- Repayment up to 4 years
- Simple Interest Rate 2.9% and Effective Interest Rate 5.5%
SME Working Capital Loans
This type of loan is supported by the Government also to assist SME Business owner to sail through tough time between 2016 to 2019 ,by borrowing a loan to finance the business operation,
Banks included in the scheme such as DBS, UOB, OCBC, RHB, MAYBANK.
Eligibility to apply
Company register in Singapore and local equity sharing at least 30%.Group annual sale <$ 100 million and employee < 200 people.
Loan Specifications
- Maximum Loan Amount $500 000
- Repayment up to 45years
- Simple Interest Rate 2.9% and Effective Interest Rate 3.6%
Business Term Loans
This type of loan is solely operate by the private banks.
Banks included such as DBS, UOB, OCBC, RHB, MAYBANK.
Eligibility to apply
Company register in Singapore and local equity sharing at least 30%.Group annual sale <$ 100 million and employee < 200 people.
Loan Specifications
- Maximum Loan Amount $500 000
- Repayment up to 45years
- Simple Interest Rate 5.7% and Effective Interest Rate 5.9%
Visit Spring Singpore for more details
Hope this Business Loan Comparison in Singapore has help you up to finance your business.
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