List of Singapore SME Loan 2018 for Business Improvement

List of Singapore SME Loan 2018 for Business Improvement

The small and medium-sized enterprises don’t only help the owners make money, but also contribute to the overall business development of a state. And in a growing economy like Singapore, the development of the SMEs is fundamental, and the government knows it very well. For the promotion of the Singapore SME Loan 2018, there are a lot of loan schemes available to the small to medium enterprises in Singapore launched by the Enterprise Singapore which help the SMEs in various departments, from the daily cash flow to the equipment money, according to their needs. So, if you are looking are also looking for additional funds to grow your business, then here, we bring you the list of Singapore SME loan 2018, which you can apply for.

SME Micro Loan

A loan scheme suited to the SME startups, this is a scheme with which, and businesses can apply for a loan of up to S $100,000. The funds can be used for the daily cash flow for everyday schedules as well as for upgrading the factory equipment. The loan repayment period is four years, and the interest rate can be anywhere between 3.2% – 4.7% p.a.

Eligibility

Here are the conditions that a business must fulfill before it can be eligible to apply for this Singapore SME loan in 2018.

• The enterprise should be incorporated an operating in Singapore.
• The annual sales can’t be more than S $1 million, and there can’t be more than ten employees.
• There should be at least 30% of the shareholding.

Where to Apply

Application Link

Application Form

https://www.enterprisesg.gov.sg/-/media/1336641646de498486051fc84ebb4017.ashx

Application Guide

https://www.enterprisesg.gov.sg/-/media/b41ef676a68541ee895b5ff592b0eced.ashx

SME Working Capital Loan

Another loan program as the Singapore SME Loan 2018 is the SME working capital loan through which SMEs could get loan funds of up to S$ 300,000 as per the need. The interest rate could be dependent on the financial institution’s risk involved and the repayment period is four years.

Eligibility

These are the conditions for a business to be able to get an SME working capital loan:

• The company should be based in Singapore and should be currently operating in the city-state.
• The annual group sales should be S$100 million in maximum, and the maximum number of employees is 200.
• There should be at least a 30% of the local shareholding.

Where To Apply

These are the financial institutions associated with the SME working capital loan.

Application

Application Form

https://www.enterprisesg.gov.sg/-/media/1336641646de498486051fc84ebb4017.ashx

Application Guide

https://www.enterprisesg.gov.sg/-/media/b41ef676a68541ee895b5ff592b0eced.ashx

Application Procedure For Receiving Any Of The Singapore SME Loan 2018

For all of these loans, you will need to approach the financial institution with these documents:

• A business profile from the Accounting and Regulatory Corporation (ACRA).
• Verified statements and bank resolutions that state clearly the financial situation of your corporation.
• Income tax assessment of the owner(s) and the members of the board of directors.
• Other paperwork, as required by the institution.

Well, I hope you liked the list of Singapore SME Loan 2018. If you did, we are sincerely thankful for being able to help you.