Business Term Loan
A Business Term Loan in Singapore is an in-house loan offered by banks and financial institutions to businesses. Business term loans provide companies with access to capital for specific needs, such as financing growth, purchasing assets, expanding operations, or covering other business-related expenses.
A business term loan can be considered if an SME is looking a high loan quantum or if the $500K Working Capital Loan limit with Enterprise Singapore has been fully utilized. SMEs can apply for loans of up to SGD 1M through our network of banks and financial institutions.
Business term loans have fixed repayment tenors, which ranges from one to five years.
Interest rates are similar the SME Working Capital Loan, ranging between 4.5% – 6% flat per annum depending on the bank and company’s profile.
Business Term Loan Requirements
To qualify for a business term loan, businesses typically need to meet certain eligibility criteria. This may include having a stable financial history, demonstrating the ability to repay the loan, and providing financial documents and business plans.
Consult with us to help you make informed decisions about the Business Term Loan.
Documents required for a no obligation assessment:
- Latest 6 months Bank Statements
- Latest 2 years Financial Statements or latest Management Accounts
- Copy of NRIC for all directors and guarantors
- Copy of latest 2 years Notice of Assessment for all directors and guarantors
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