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We require no collateral or security to approve your SME Working Capital Loan
Fees and Charges
First Year Annual Fee is maximum 2.00% of the approved loan amount (minimum S$40,000)
Subsequent Years Annual Fee will be S$100
Tenor & Quantum
Max Loan Quantum – S$300,000
Min tenor – 1 year
Max tenor – 5 years
Tenor & Quantum for each loan is subject to the Bank’s approval and SPRING eligibility
Business Instalment Loan (BIL) Board Rate – 9.00% p.a
Effective Interest Rate for each loan can vary, maximum uo to BIL Board Rate – 1.00% p.a (at 8.00% p.a)
Additional interest at the rate of 3.50% p.a above the Interest Rate shall be levied on all overdue instalments until the date of payment (both before and after judgment).
Eligibility & Documents
Sole Proprietors / Partnerships / Private Limited Companies
Minimum 30% or more shareholdings is effectively held by Singaporeans / PRs
Minimum 3 years of business operations
Minimum turnover of S$750,000
Photocopies of Sole Proprietors’ / Partners’ / Principals’ / Directors’ Identity Cards / Passports
Company’s Goods and Services Tax statements for last 4 Quarters
Company’s operating bank current account statements for the past 6 months
Completed SME Working Capital Loan Application form
Completed SPRING LEFS Application form
Copy of Sole Proprietors’ / Partners’ Income Tax Notice of Assessment
Board of Directors’ resolution
Company Constitutional Documents like Memorandum and Articles of Association
Professional Certificate (if applicable)
Documents related to establishment of entity, identity and address proof documents
Terms & Conditions
*The repayment period for each loan is subject to the Bank’s sole discretion.
The loan amount approved is subject to the Bank’s sole discretion.
All applications are still subject to, and conditional upon the Bank’s approval in the Bank’s sole discretion.
Deposit Insurance Scheme
Singapore dollar deposits of non-bank depositors are insured by the Singapore Deposit Insurance Corporation, for up to S$50,000 in aggregate per depositor per Scheme member by law. Foreign currency deposits, dual currency investments, structured deposits and other investment products are not insured.