Trade Finance (Line of Credit/Trust Receipt Financing)
Trade Finance refers to loans that help minimize risks and increase profitability of businesses involved in import/export trading. One facility under this loan is the Line of Credit/Trust Receipt Financing.
This helps a business owner to pay to its supplier(s) for the goods ordered and gives more time for the business owner to convert goods to sales and allows the business owner to increase the capacity to order more goods.
Young business can apply for this facility with the assistance of Trade Loan and Loan Insurance Scheme supported by Enterprise Singapore.
Features of Trade Finance:
Increases the time to convert more goods into sales prior to making repayment to the Lender.
Since the buyer does not need to pay immediately, his cash flow is not tied up to goods so it can be used for other business purposes.
Ability to get better deals from suppliers which requires cash on delivery.
Funding Overview
| 1 | Loan Quantum | 100% of the invoice from approved supplier. |
|---|---|---|
| 2 | Interest Rate | Up to 8.00% p.a. |
| 3 | Processing Fee | Up to 2.00% |
| 4 | Repayment Period | 30 to 180 days per financed invoice dependent on the Lender's approval |
Application Criteria
Eligibility
• Company Establishment of more than 3 years
• Latest year performance must be profit.
• A company with Group Annual Sales Turnover of ≤ S$100million or Group Employment Size ≤ 200*
*Other eligibility criteria may apply depending on the Financier(s).
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 6 months
• Company financial reports/statements for the last 2 years
• Latest Aging List (Accounts Receivable & Accounts Payable)
*Requirements may vary depending on the Financier(s).
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.
