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Proceed

How would you like to apply?

I am NOT an existing Standard Chartered Current/Checking/Savings Account holder

*SingPass holders with a MyInfo profile can use MyInfo to automatically fill up the form. By clicking “Next”, you will be re-directed to the MyInfo portal, which is not owned or controlled by Standard Chartered Bank (Singapore) Limited or any member of the Standard Chartered Group (the “Bank”). The Bank bears no liability or responsibility over your usage of the MyInfo portal.

*Please note that MyInfo is temporarily unavailable at the stipulated downtimes:

Mon, Tues, Thurs, Fri, Sat:  5:00AM to 5:30AM. Wed: 2:00AM to 6:00AM. Sun: 2:00AM to 8:30AM

I am an existing Standard Chartered Current/Checking/Savings Account holder

    How would you like to apply?

    I am NOT an existing Standard Chartered Current/Checking/Savings Account holder

    *SingPass holders with a MyInfo profile can use MyInfo to automatically fill up the form. By clicking “Next”, you will be re-directed to the MyInfo portal, which is not owned or controlled by Standard Chartered Bank (Singapore) Limited or any member of the Standard Chartered Group (the “Bank”). The Bank bears no liability or responsibility over your usage of the MyInfo portal.

    *Please note that MyInfo is temporarily unavailable at the stipulated downtimes:

    Mon, Tues, Thurs, Fri, Sat:  5:00AM to 5:30AM. Wed: 2:00AM to 6:00AM. Sun: 2:00AM to 8:30AM

    I am an existing Standard Chartered Current/Checking/Savings Account holder

      Standard Chartered is an active participant in the government’s SME financing scheme

      Clothing, Apparel, Person

      Standard Chartered is an active participant in the government’s SME financing scheme

      EFS SME Working Capital Loan(WCL)

      We know these are challenging times. We are here for you and your everyday business needs.

      Features

      Fees and Charges

       

       ITEMS
      DETAILS
      Annual Fee First Year Annual Fee is maximum 2.00% of the approved loan amount (minimum S$400)
      Subsequent Years Annual Fee will be S$100
      Tenor & Quantum Max Loan Quantum-
      For SME WCL : S$500,000 per Borrower
                                                                : S$5,000,000 per Borrower Group^
      Min tenor – 1 year
      Max tenor -up to 5 years
      Tenor & Quantum for each loan is subject to the Bank’s approval and Enterprise Singapore eligibility
      Partial Prepayment No partial prepayment allowed.
      Full Redemption The Borrower may by giving 1 month’s prior written notice repay the Loan in full.
      Interest Rate Competitive market rates*

      * Effective Interest Rate is computed against Business Instalment Loan (BIL) Board Rate – 9.00% p.a.

      Default Fee 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

      Eligibility

      • Sole Proprietors / Partnerships / Private Limited Companies
      • SME* registered and operating in Singapore
      • Minimum 30% shareholding effectively held by Singaporeans / Singapore Permanent Residents
      • Minimum 3 years of business operations
      • Minimum turnover of S$750,000
      • SME is defined as an enterprise with Group Sales turnover of not more than S$100mil or total Group Employment size of not exceeding 200

        Borrower Group refers to:

        1.Applicant company (“Applicant”); and

        2.Corporate shareholders of Applicant company holding >50% at all levels up (“Applicant’s Ultimate Parent Company”); and

        3.Subsidiaries where the Applicant company holds >more than 50% shareholdings and subsequent subsidiaries at all levels down; and

        4.Subsidiaries where the Applicant’s Ultimate Parent Company holds > 50% shareholdings and subsequent subsidiaries at all levels down

      Documents required

      • 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 Business Banking Facility Form for SME WCL
      • Completed Enterprise Singapore Enterprise Financing Scheme (EFS) Declaration 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

      Disclaimer

       

      *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$75,000 in aggregate per depositor per Scheme member by law. Foreign currency deposits, dual currency investments, structured deposits and other investment products are not insured.