Apply micro loan, commerical & industrial property loan. Linkflow Capital Pte Ltd All rights reserved. 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. Use our free online loan assessment tool to compare all SME financing facilities. 150 South Bridge Road #02-10A Singapore 058727. Mr Toh There are more than 20+ banks and financial institution providing SME loans. They offer a quick and convenient way to get the funds you need to tide your business over a dry spell, or to pay your suppliers so you can stay in business. Kindly contact info@linkflow.com.sg, "We are very satisfied with the service and capability of Linkflow Capital in assisting with our company’s expansion. Do you know that some banks shun certain industries whereas other banks might welcome these same industries? What is the SME loan eligibility criteria and requirement to qualify for financing? There are various working capital loan products available to meet the different requirements of SMEs. Most banks prefer financing companies with minimum 1 to 2 years of operational history. For over 50 years, we have helped numerous small and medium-sized businesses in Singapore grow to MNC stature by leveraging on our strength in doing business locally, throughout ASEAN and beyond. The consultant is sincere, efficient and provided prompt follow up service.” Linkflow Capital Pte Ltd is a Singapore consultancy firm that assists SMEs to secure business loans from banks and financial institutions. To support visible SMEs that may have cashflow 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$1 million per SME. This loan is open to sole proprietorships, partnerships or private limited companies registered and operating in Singapore for at least 3 years. Don’t have your applications rejected. These SME loan schemes are offered by more than 12 banks and financial institutions in Singapore. 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. 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! There is no paperwork or collateral required for this loan, but at least one Guarantor (Singaporean or PR 21 years old and above with annual income of minimum S$30,000) must be provided. Meanwhile, the DBS Digital Bank Loan allows you to borrow up to S$200,000, with a repayment period as long as 5 years. Take 1 minute to provide information & our system will generate indicative banks your company might be eligible for. Therefore, always be conscious to protect your personal credit grading by paying all your personal credit cards, home loan, car loan etc on time. Engaging a business loan consultant is optional. Led by Enterprise Singapore, the government has made available two special assistance loan packages to supply businesses with the finances they need to keep operating. Also, you may still be held liable for any unpaid or late invoices. Plus The Ultimate Savings Guide for COVID-19 and Beyond, for free! WaWe Design If your business is operational and at least 6 months old, a competent SME loan broker might still be able to help you secure business financing. Imagine this scenario: You require funds urgently. In our highly-competitive economy, strongly favouring the growth of large companies over smaller SMEs, running a … Alternatively, consider engaging a loan broker to help comb through the various banks business loan products to find the lowest rates for your company. Besides that, they should provide the IC Copy and Utility Bills. A government-assisted SME loan for your business needs. For potential partners or source of funds, we welcome collaborations to bring more funding products to our platform. Working Capital & Business Term Loans Used for business cash flow and working capital purposes to help grow your business. Why you will love this; Who can apply; Why you will love this. Mr Frankie Gwee EFS will enable Singapore enterprises to access financing more readily throughout their various stages of growth. Applicant with such criteria will have a higher probability to loan approval. How it works: This gives your business a line of credit to draw upon — up to a stipulated cap. A similar loan is the UOB SME Loan, which also allows you to borrow up to S$100,000. The company that buys your invoices then takes responsibility for collecting the invoice payments. Linkflow Capital Pte Ltd For example, we cover Tampines, Chu Kang, Ang Mo Kio, Sengkang, Batok, Hougang,Clementi, Serangoon, Jurong, Woodlands, Yishun, Pasir Ris and so on. (EIR 7%-13%). COVID-19 and the resulting Circuit Breaker measures are causing revenue streams to dry up, and it is threatening many Small and Medium Enterprises (SME) to shutter. With a loan cap of up to S$350,000, the UOB BizMoney Loan offers slightly more business capital. However, be prepared to pay for higher interest rate or fees compared to bank options. What government assisted financing schemes and loans can SMEs apply for? The turnaround time takes this long because. Working Capital SME Business & Corporate Bank Loans are supported by the Singapore government to maintain low interest rates and fees. Banks: CIMB, DBS, HSBC, MayBank, OCBC, Resona Merchant Bank Asia, RHB, Standard Chartered, UOB. Your company’s expansion plan might be stalled due to the missed opportunity. I found and applied for a cashback card easily on their website. Singapore's government has committed S$2 billion for loans specifically designed for SMEs. Compare SME Business Loans Get your full, exclusive copy of The Ultimate Savings Guide for COVID-19 and Beyond, including tips on reducing unnecessary expenses, creating additional income streams and more! It is absolutely critical as a business owner to keep your personal credit score acceptable. We specialize in SME finance and through our expertise and network, we help clients secure funding with low interest rates efficiently and hassle free. If your business requires only a small loan, say under S$200,000, you might want to check out these three SME loans. Generally, most banks require company to have minimum 30% local shareholdings, at least 1 to 2 years old, and revenue of $200K minimally. Already signed up? To be eligible, your business must be at least 30% locally held, established for at least 3 years, and have a minimum annual turnover of at least S$300,000. To help SMEs access working capital to deal with Covid-19’s impact. STEP 1 Leave your company name & email at the bottom of this page. When you apply for a SME loan in Singapore, your personal credit record will usually be assessed by the relevant banks. SME Working Capital Loan However, please note that on these types of Singapore business loans you would only be able to take out a smaller working capital amount, at a higher interest rate and shorter repayment period and terms. The advantage of a credit line lies in its flexibility; you can use the funds in your credit line account according to your needs, and you only pay interest on the amount you have used. Businesses can apply SME loans from a myriad of banks, financial institutions or alternative lenders. We help your company secure financing fast! A business loan can help. Do note that there’s also a S$500 annual fee. By Alevin ChanAn ex-Financial Planner with a curiosity about what makes people tick, Alevin’s mission is to help readers understand the psychology of money. Enterprise Singapore will share the loan default risk in the event of enterprise insolvency with the Participating Financial Institutions. SME Working Capital Loan SME Working Capital Loan is a financing initiative by the Singapore government providing up to $300,000 in financing for Singapore firms. Temporary Bridging Loan Programme — Up to $5 million Enhanced SME Working Capital Loan — Up to $1 million Enhanced Trade Loan — Up to $10 million Apart from these, local banks and financial institutions (FIs) also offer an array of instalment loans and other credit tools. Reduce SME loan application processing time by 3-5 working days. Sign in now to claim your free savings guide. With depressed earnings since the start of the year, your business may be facing difficulties in continuing to pay suppliers, staff and rentals, or are struggling to keep afloat. SME Working Capital Loans. Settle any overdue payments promptly and be cautious not to over-extend your personal credit at all times. Their interest rate are different and varies according to factors such as credit grading of applicant and the loan quantum. Minumum annual revenue at least $200k per year, Operational business incorporated for at least 6 months (preferably 1 year). As the loan is offered under the Resilience Budget, you can therefore opt to pay only your interest charges during the first 12 months of your loan. Ltd. Various government financing schemes streamlined under one umbrella. One hour is all you need to get cash disbursement up to $1,000,000. Fulfill your business ambitions with the Business First Loan, a government-assisted loan. SME Working Capital Loan Get Funding of up to $1 million from a Singapore government-assisted working capital loan scheme for your cash flow concerns and business expansion with low interest rates. Mr S.S. LeePowerzone Technologies Pte Ltd(Engineering & trading firm), “Linkflow Capital has helped us identify facilities suitable for our company’s growth. If somehow you don’t qualify for the SME loans discussed above, there are other ways to secure the finances you need to expand your business or to keep it going. Fourth, Heng’s latest initiatives announced include Singapore’s $320 million in ‘tourism credits’ for Singaporeans to promote domestic tourism. Your business should also not have more than 200 employees and annual turnover should be under S$100 million. Compare across all banks for more options & maximize approval chances. So from application to receiving funds, expect a turnaround time of between 3 to 5 weeks. The Singapore Government has loan schemes available to SMEs of different sizes and growth stages. This is an increase over the previous loan quantum of up to S$300,000. Improve your approval chances. 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. 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