{"id":1352,"date":"2021-06-23T13:28:34","date_gmt":"2021-06-23T05:28:34","guid":{"rendered":"https:\/\/task.com.sg\/?p=1352"},"modified":"2021-09-01T18:44:26","modified_gmt":"2021-09-01T10:44:26","slug":"list-of-loan-for-sme","status":"publish","type":"post","link":"https:\/\/task.com.sg\/guides\/list-of-loan-for-sme\/","title":{"rendered":"List Of Loans Available For SMEs"},"content":{"rendered":"\n

In Singapore, there are a number of loan assistance schemes available to help small and medium-sized enterprises (SMEs) to promote business sustainability. Not just for SMEs, there are also financing initiatives available<\/a> for startup companies. They are as follows:<\/p>\n\n\n\n

1. Microloan for SMEs<\/h2>\n\n\n\n

What is Microloan?<\/strong><\/p>\n\n\n\n

It helps SMEs get fixed interest rate loans of up to S$100,000 that will help them fund the daily operations of their business.<\/p>\n\n\n\n

Who is eligible?<\/strong><\/h4>\n\n\n\n
  1. Registered or incorporated in Singapore<\/li>
  2. SMEs who have 10 or less employees OR has annual sales not exceeding S$1 million<\/li>
  3. At least 30% local shareholding<\/li><\/ol>\n\n\n\n

    Where can you apply?<\/strong><\/h4>\n\n\n\n

    There are 19 participating institutions \u2013 DBS Bank, HSBC, Maybank, OCBC, RHB Bank, Standard Chartered etc\u2026<\/p>\n\n\n\n

    Interest Rates:<\/strong><\/p>\n\n\n\n

    *Minimum 5.75% interest rate for loan tenure of 4 years and below.<\/p>\n\n\n\n

    * Subject to Participating Financial Institutions\u2019 assessments of risks involved.<\/em><\/p>\n\n\n\n

    How to apply?<\/strong><\/p>\n\n\n\n

    1. Download the application form and the application form guide<\/li>
    2. Submit the Application Form with the supporting documents<\/li>
    3. 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.<\/li><\/ol>\n\n\n\n

      More information at : https:\/\/www.spring.gov.sg\/Growing-Business\/Loan\/Pages\/SME-Micro-Loan.aspx<\/a><\/p>\n\n\n\n

      2. SPRING SEEDS Capital (SSC)<\/h2>\n\n\n\n

      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. <\/p>\n\n\n\n

      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.<\/p>\n\n\n\n

      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 \u2013 Startup SG Founder, Startup SG Tech, Startup SG Equity, Startup SG Accelerator, Startup SG Loan, and Startup SG Talent.<\/p>\n\n\n\n

      More information at : https:\/\/www.spring.gov.sg\/Nurturing-Startups\/Pages\/nurturing-startups-overview.aspx#StartupSG<\/a><\/p>\n\n\n\n

      <\/p>\n\n\n\n

      \"\"<\/figure><\/div>\n\n\n\n

      3. Business Angel Scheme (BAS)<\/h2>\n\n\n\n

      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.<\/p>\n\n\n\n