The available loan assistance for your company:
What is Microloan?
It helps small businesses get fixed interest rate loans of up to S$100,000 that will help them fund the daily operations of their business.
Who is eligible?
- Registered or incorporated in Singapore
- Company has 10 or less employees OR has annual sales not exceeding S$1 million
- At least 30% local shareholding
Where can you apply?
There are 19 participating institutions – DBS Bank, HSBC, Maybank, OCBC, RHB Bank, Standard Chartered, etc…
*Minimum 5.75% interest rate for loan tenure of 4 years and below.
* Subject to Participating Financial Institutions’ assessments of risks involved.
How to apply?
- Download the application form and the application form guide
- Submit the Application Form with the supporting documents
- Wait 3 weeks for the bank or financial institution to reply. Processing of applications may be longer depending on the size of the loan and other factors.
More information at : https://www.spring.gov.sg/Growing-Business/Loan/Pages/SME-Micro-Loan.aspx
SPRING SEEDS Capital (SSC)
SPRING SEEDS Capital (SSC), an investment arm of SPRING Singapore, co-invests with independent investor(s) in commercially viable Singapore-based startups with innovative and strong intellectual content that are scalable across international markets. It also manages co-investment funds administered under Startup SG Equity, a scheme which catalyses private-sector investment for startups through government equity co-investment. Under Startup SG Equity, SSC supports early-stage startups across a wide range of technology and industry domain areas.
Startup SG represents the shared interests of the startup community and positions Singapore as a leading startup hub. It provides entrepreneurs with a launchpad to connect them to the global stage, and a platform to access local support initiatives. Currently, there are six pillars of support – Startup SG Founder, Startup SG Tech, Startup SG Equity, Startup SG Accelerator, Startup SG Loan, and Startup SG Talent.
Business Angel Scheme (BAS)
Raise funds for your start-up. For every S$1 invested by the business angel investors, SPRING SEEDS Capital will invest S$1. The maximum investment by SPRING SEEDS Capital is S$1.5 million.
- Singapore-based companies who:
- are incorporated as a Private Limited company for 0-5 years
- have minimum paid-up capital of S$50,000
- are developing innovative products or processes for the global market
- To encourage proactive business angel investments in innovative seed or early stage start-up companies.
- The minimum investment per start-up by the pre-approved Business Angel Investor must be at least S$75,000.
- SPRING SEEDS Capital will match the investment S$1 for every S$1 up to a maximum of S$1.5 million.
* SPRING SEEDS Capital is a subsidiary of SPRING Singapore.
- Start-ups who have already received funding under Start-Up Enterprise Development Scheme (SEEDS) can still apply under BAS for follow-on investment up to a maximum of S$1.5 million.
- BAS is similar to SEEDS in its aims. The two equity funding schemes work together to help fund start-ups.
- The Business Angel Investors have indicated industry sectors which they will invest in:
|Business Angel Investors||Industry Sectors|
|BAF Spectrum Pte Ltd||ICTDigital MediaMobileWebInnovation in Healthcare servicesInnovation in Education services|
|Accel-X Pte Ltd||Will consider startups from any sector which are potentially scalable|
|August Capital Partners||Supply chain & Logistics TechnologyHealth and Med TechnologyNutritional ScienceData AnalyticsOther high growth sectors that have a regional or global impact|
|Jungle Ventures||New MediaICTWebMobileDesignConsumer ProductsHospitalitySocial Impact|
|Small World Group Angels||Clean TechnologyOptical SystemsAdvanced MaterialsWebICT|
You can receive non-financial assistance, for example when looking for premises or investors for your start-up.
Home Office (HO) Scheme
Start-ups and small businesses can save on business costs like office rental by working from home.
- Small businesses who wish to operate a business from home.
- You must be the owner/tenant/authorised occupier of a residential property to qualify.
- To give would-be entrepreneurs the flexibility of conducting business from their homes to save on costs and build up their business.
- If the property is an Housing & Development Board (HDB) flat or living quarters of HDB commercial property, you need to apply to HDB.
- If the residential property is a private home, then you need to apply to the Urban Redevelopment Authority (URA).
- You need to pay an administration fee (non-refundable) of S$20 for each application.
- You should be aware that you must meet the:Your business must also not be a disallowed (“negative”) business, such as a maid agency or courier service.
- See:Negative List
- Some businesses do not need to apply for this scheme (e.g. residents giving private tuition).
- Participate in this programme if you wish to invest in interactive digital media start-ups or if you are a start-up sourcing for funding to commercialise your products or services.
Businesses can rent vacant State buildings faster and simpler by making direct rental offers to the Singapore Land Authority (SLA).
- Businesses looking for quick and ready premises. The premises are suitable for start-ups and niche businesses such as:
- childcare centres
- homes for the aged
- foreign system schools
- To allow businesses whose activities fall within one of the “Approved Uses” to make direct rental offers for vacant State buildings.
- You may submit an offer for alternative uses when the property becomes available on a first-come-first-served basis.
- SLA will receive all offers for the property for a 2-week period from the launch date. If SLA does not receive any acceptable offer, SLA will evaluate subsequent acceptable offers on a first-come-first-served basis.
- Approvals can be as fast as 4 weeks for “straight-forward” cases. Under the regular tender system, the entire process normally takes 11 weeks.