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  1. Loans & Government Schemes
  2. Online Business Loans

Online Business Loans

Easy online application process for your business loan

Online Business Loans Benefits
  • online application process

  • Financing amount

  • rates

Eligible Loan Types

Business Instalment Loan

Grow your business with Business Instalment loan and secure up to $300,000 loan, collateral-free. Read More

Temporary Bridging Loan

Easier access to unsecured facilities for local enterprises. Read More

Eligibility

  • Sole Proprietors / Partnerships / Private Limited Companies
  • Singapore-registered business
  • 50% or more shareholdings is effectively held by Singaporeans / Singapore PRs
  • Minimum 3 years of business operations
  • Minimum turnover of S$750,000

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 Instalment Loan 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

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 and TBL
  • Completed Enterprise Singapore Enterprise Financing Scheme (EFS) 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

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

Min Loan Quantum – S$70,000 Max Loan Quantum – S$300,000 Min tenor – 1 year Max tenor – 3 years Tenor & Quantum for each loan is subject to the Bank’s approval

Board Rate

Business Instalment Loan (BIL) Board Rate – 9.00% p.a

Interest Rate

Effective Interest Rate for each loan can vary, maximum  up to BIL Board Rate + 2.00%p.a ( at 11.00% p.a )

Default Fee

S$100 Charged for overdue instalments on the Loan. In addition to the default fee, an additional interest at the rate of 10.00% p.a above the Bank’s prevailing Business Instalment Loan Board Rate shall be levied on all overdue instalments until the date of payment (both before andafter judgment)

(Post Loan Disbursement) Special Requests

S$250

(Partial) Prepayment Fee

3.00% on the sums prepaid, with 1 month’s prior written notice

(Full) Redemption Fee

5.00% of the outstanding loan amount if redeemed within first twelve months from the date of disbursement, 3.00% of the outstanding loan amount thereafter, with 1 month’s prior written notice

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 loan applications made online-
S$1,000,000 per Borrower
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

Loan Repayment

Service only interest for first 12 months, thereafter principal and interest for the remaining of loan tenor (subject to approval)

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 judgement).

Business Instalment Loan is the Bank’s commercial unsecured term loan product. The Temporary Bridging Loan programme is a government assisted scheme jointly administered by Enterprise Singapore to support enterprises’ financing requirements across different stages of growth, and an application for Temporary Bridging Loan is subject to the terms and conditions, and approval, of Enterprise Singapore. This is also an unsecured term loan product.

The Bank’s maximum finance quantum for Business Instalment Loan is S$300,000, and for Temporary Bridging Loan, particularly for loan applications made via SC.com, the maximum finance quantum is S$1,000,000.

The loan can be repaid over a maximum tenure of 36 months for Business Instalment Loan, and 60 months for Temporary Bridging Loan.

Save for personal guarantee(s), no other security or collateral is required.

No, you don’t need to. However, you will be required to provide us the original electronic version and/or version downloaded from an electronic source of certain requisite statements and supporting documents.

We will get in touch with the applicant through the contact details provided, upon receiving the application via SC.com.

You may reach out to us at +65 6743 3000 or 1800 743 3000.

Disclaimer

¹refers to Business Instalment Loan and Temporary Bridging Loan applied through www.sc.com/sg

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.

The Bank’s grant of its in-principle approval of a loan application made via the Online Business Loans website is only an indicative decision of the Bank and any agreement to offer the loan facility shall be subject to the Bank’s final approval and full terms and conditions as may be set out by the Bank in the agreement(s) between the Bank, the Borrower, and the Guarantor(s). The Bank may request for additional information, documentation and verification for purpose of granting such final approval and the loan facility.

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.

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