Finnex Singapore

Business Financing: Government-Backed Term Loan: SME Working Capital Loan

SME Working Capital Loan initiated by EnterpriseSG is further enhanced as announced in the Supplementary Budget 2020 by our Deputy Prime Minister cum Finance Minister, Mr Heng Swee Keat. This allows Small Medium Enterprises in Singapore to have access to their working capital needs even more so during this CoVid-19 outbreak through the participating Banks & Financial Institutions with a risk sharing factor of 80% with the Government. Businesses and Companies can use the fund to boost daily operations such as hiring, managing new projects and many more.

NOTE: Limited Time Only**


Funding Overview

1 Loan Quantum Up to S$1,000,000 of unsecured loans
2 Interest Rate as low as 3.50% p.a simple interest (effective interest 6.50% p.a)
3 Processing Fee From S$0
4 Repayment Period Up to 5 years.
5 Unique Features There is no penalty charge for early repayment, subject to the Financier's Notice Period required.

SMEs may request for moratorium (deferment of principal repayment) for one year, subject to assessment by participating financial institutions.
6 Validity Period** Current till 31st March 2021

Application Criteria

Eligibility

• A company incorporated in Singapore for at least 6 months with at least 30% local shareholdings (Singaporean and/or PR).

• A company that has an existing corporate account with active transactions for at least 6 months

• A company with Annual Sales Turnover of ≤ S$100million or CPF-payable Employees ≤ 200

Documents to Submit

• NRIC copy (front and back) of directors/ partners/sole-proprietor

• Individual Income Tax Notice of Assessment (NOA) of directors/partners/ sole-proprietor for the last 2 years.

• Company bank statements for the last 3* or 6 months

• Company financial reports/statements for the last 1* or 2 years

*Dependent on Financier’s requirement

Start Your Application Today!

Start Your Application Today!

We help our clients obtain the right financial assistance by objectively assessing their business profile and documents before finding the most suitable financial institutions that could give them the highest loan approval chances.

We also try to get the best deal for our clients by looking for the lowest interest rates in the market, but this could still vary depending on the company’s financial standing and profile.

If your company is not able to qualify for a loan at the moment, we also advise on what areas you can improve in order to qualify in the future.

Get started in 4 easy steps.

1. Fill up the form and submit

2. Engaged by our assigned consultant

3. Consultant presents on the proposed business solution

4. Get your funds upon approval

How It Works

• Upon receiving your inquiry, our assigned Business Consultant will get an overview of your business finance.

• The assigned Business Consultants will brief you on the application process, the best suited solution and credit facilities for your business based on your needs during the scheduled appointment.

• We will assist you with the full process of your application until approval and disbursement.

• During the process, additional documentation required to aid in the application approval might be requested from you.

• Please allow 2 to 4 weeks* for the assessment, submission, negotiation and approval of your application.

• If approved, disbursement takes about 3 to 5 working days upon signing of the Letter of Offer.

Fill up the form

Every client is important to us and we do our best to meet the estimated timeline given.

* Subject to the credit facility proposed and applied for, processing time may take longer or shorter.