Where to Get an SME Loan in Singapore

If you are looking for an SME loan in Singapore, you have come to the right place. Linkflow Capital is an SME loan consultancy firm based in Singapore that helps SME owners secure business financing. The company provides a wide range of financing options for SME owners.

The government of Singapore has taken various measures to promote SMEs, such as providing government-backed business loans to SMEs. For instance, local banks have temporarily suspended unsecured business term loans in favor of government-backed loans, which have lower interest rates. Small businesses can take advantage of these initiatives to stay competitive.

Singapore has a strong finance industry, and there are many alternative lenders who can present alternative financing options to SME owners. Besides banks, alternative lenders can also provide a lower interest rate to SMEs than conventional banks. However, most SMEs don't have any experience with various types of business financing, and they often only turn to these institutions when they need to expand their business or win large contracts. In such a situation, they may not know where else to turn to get financing.

If you are in need of a small business loan, you can use the government's Enhanced Enterprise Financing Scheme (EEFS). This government scheme offers low interest loans for SME businesses to meet their trade financing requirements. This type of loan can also serve as a bank guarantee for overseas trade transactions. The maximum loan amount under this scheme is S$10 million. However, it is important to note that the terms and conditions of these loans vary across banks.

The UOB SME Loan is a great option for those who need a temporary bridging loan. With a three-year repayment period, this loan will help businesses who are just starting out and have less than 200 employees. Additionally, they must have annual turnover under S$100 million.

While it may be difficult to qualify for an SME loan in Where to get sme loan in singapore, there are still many different options available to help new and established businesses grow. In fact, some banks and loan providers require that you have a business that is at least a year old in order to receive the loan. Furthermore, many lenders also require that you have operated for six months before you can apply for an SME loan.

You can also choose to apply online for a SME loan in Singapore. This way, you can save 50% on application fees. Another option is the Temporary Bridging Loan, which is capped at five per cent per annum. These loans are available for small businesses with a guarantor who has at least a S$30,000 annual income.

Standard Chartered is another option for an SME loan in Singapore. The bank offers business installment loans up to SGD 300,000. You can also apply for a working capital business loan with no collateral. Both of these options require a business entity registered in Singapore.