Are you a business owner? Well, look no further. Our site is host to many financing companies that offer SME Working capital loans and other loans to help businesses. Apply Loans SG’s platform has an intuitive design and easy searching tools to make looking for the best money lenders for your needs extremely simple and straightforward. Browse and sort by name, read reviews that other people have written about them and submit loan inquiries, all on our site. Contribute to building a better picture of Singapore’s moneylending institutions today!
What is a SME loan?
SME Loan refers to the type of business loan that seeks to provide financial assistance to help the owners of small and medium enterprises in making their business running. The thriving small and medium-sized enterprise (SME) sector is necessary for a good economic system. Small and medium-sized enterprises (SMEs) account for more than 90% of all industries in Singapore. They are accountable for significant contributions to revenue generations and jobs. Thus, providing financial assistance in the form of SME loan is important not only for the business owners but for our whole economy.
Although smaller companies are more adaptable and easier to modify than larger corporations, they are much more prone to the effects when there is a crisis in market. They are also more vulnerable to harassment from various agencies and have lesser options to fall back on in difficult times. This is why SME loans are important in keeping the SME sector alive and active in participating to the economic marketplace.
What is a SME Loan Brokers?
A business loan broker, business loan adviser or mortgage broker is how SME loan brokers in Singapore are often called. The services they provide are usually the same regardless of the title they are referred to. An SME loan broker in Singapore is simply a third party who finds the best loan deals for owners of small and medium business enterprises, advises on how to optimize your loan application, and assists you in successfully securing a loan. SME loan brokers in Singapore can help your business grow and survive in the ever changing market. As SME owners are often unheard and disregarded in the economic competition, the role of SME loan broker in Singapore is to mediate between the SME owners and the money lenders to help the SME owners find a financial support for their business.
How can I Apply for a SME Loan in Singapore?
More often than not, you need a couple of assistance and connections when you wish to apply loans for your SME in Singapore. SME loan in Singapore is tricky to both the business owner and the money lender. Firstly, you can’t expect many money lenders in Singapore to willingly lend SME loan to just any business starters. A newbie in the business sectors has a big chance of falling out of the competition. Thus, money lenders are careful in giving out SME loans in Singapore.
However, there are money lenders in Singapore who are dedicated in helping SME owners to grow their business and thrive in the market. Here at Apply Loans SG, we are always welcome to help your start-up business prosper by providing fair and transparent SME Loans in Singapore.
How can I Choose the Best SME Loan Company to apply a Loan?
Here in Singapore, there are many kinds of business loans to assist budding businesses. A class of business that Singapore places special focus on is small-to-medium enterprises, or SMEs, for short. They are defined by the Singapore government as any business that employs 200 or fewer people, or have annual revenue of $100 million or less. As they are a vital part of our economy, they receive financial aid and other benefits.
For example, the SME working capital loan is a government assisted loan that lets many SMEs access millions of dollars of aid when needed. If granted, this could serve as a big boost for your business.
There are many SME loan brokers in Singapore. Now, the trick is to find the best ones for you.
As a business owner, you have to be careful about what kind of business loans are right for you. It’s even more important when you’re looking after your own business. There are many unscrupulous money lenders waiting to take advantage of people who don’t know what they’re getting themselves into. Beware of so-called “loan sharks”: dubious financial institutions that give you unfavorable loan agreements with stipulations like runaway interest rates, disagreeable payment schemes, and more. It might be tempting to jump on the first offer, but you have to be more vigilant. Not every type of loan is good for your business, and not all money lenders are built equal. Do your research and compare loan brokers, look at loan benefits and drawbacks carefully, and make your own conclusions. There are ways for you to get the best business deals.
What is a SME Working Capital Loan?
Singapore government has long been recognizing the effect of small and medium enterprises in the country’s economy. As the impact of SME in Singapore is very evident, the government is continuously making policies to protect the rights of SME owners for a fair market competition. Among such policy is the SME Working Capital Loan. The SME Working Capital Loan is one of the government’s efforts of providing financial assistance to SME owners made available through the Enterprise Financing Scheme (EFS-WCL). The improved scheme in the Solidarity Budget 2020 assists SMEs in obtaining finance until March 2021. With this, an SME business owner can now access up to $1 million in cash flow financing through the new Enhanced SME Working Capital Loan. Enterprise Singapore collaborates with financial institutions that participated in the government’s program.
What is a Monthly Installment Loans?
An installment loan is a type of loan that allows you to lend money for a particular big purchase, such as a vehicle, home, or university education. After being accepted by a lender, the borrower gets a lump sum and agrees to pay the loan in monthly scheme or installments, over a set term.
Monthly installment loan makes it easier for people to pay the loan back. As it is difficult to pay a large sum of money in one go, monthly installment loan policy serve as an alternative way to pay. With minimal installment pay per month, it wouldn’t be difficult for the lendee to complete the payment of the loans before the due date. This type of loan is effective for SME owners.
Showing 1 - 7 of 7 result(s)
Check the Accredited Licensed Moneylender below
Suite Capital Pte Ltd
Address: 1 Irving Pl, 09-04, Singapore 369546Specialization: Business FinancerBusiness Phone: +65 6844 0833
Every day we strive to provide the best for our...
Kompass South East Asia Ltd
Address: 36 Robinson Rd, Singapore 068877Specialization: Business FinancerBusiness Phone: +65 6827 8700
Coface, a worldwide leader in trade credit insu...
Address: 80 Anson Rd, #26-04 Fuji Xerox Towers, Singapore 079907Specialization: Business FinancerBusiness Phone: +65 6221 1512
NCI was established in 1985 as a specialist tra...
Devise Business Consultancy
Address: Redhill Forum, Singapore 159308Specialization: Business FinancerBusiness Phone: +65 9248 3469
Our Main Goal Is To – Get Funding for your busi...
SME CAPITAL GROUP
Address: 151 Chin Swee Rd, Singapore 169876Specialization: Business FinancerBusiness Phone: +65 6735 0032
SME Capital Pte Ltd is an independent loan cons...
SME Capital Pte Ltd
Address: 151 Chin Swee Rd, #1-41/42/43/54 Manhattan House, Singapore 169876Specialization: Business FinancerBusiness Phone: +65 6735 0032
SME Capital Pte Ltd is an independent loan cons...
SME Capital Holdings Pte Ltd
Address: 151 Chin Swee Rd, #01-43/45, Singapore 169876Specialization: Business FinancerBusiness Phone: +65 6735 0032
Frequently Asked Questions
SME means Small-to-Medium Enterprises. They are businesses that receive support in Singapore.
In Singaporean terms, SME are businesses that fulfill certain criteria. They must be registered and operating in Singapore, have at least 30% local shareholding, with a group annual sales turnover of not more that S$100 million.
Apply Loans SG hosts a number of good choices for SME. Browse the category for more information.
You must fulfill these criteria: be registered and operating in Singapore, have at least 30% local shareholding, and a group annual sales turnover of not more that S$100 million.
Business loans require bank statements, proof of identity, and more. Check with the bank for required documents.
SME means Small-to-Medium Enterprises and MSME means Micro, Small, and Medium Enterprises. SME and MSME banking deals primarily in the funding of these businesses.