Have any Questions? +65 6908 8111
At 111 Credit, we aim to deliver a positive experience to everyone.
Expect personalised service, attractive rates, and swift processing.
We process walk-in business loan applications in 60 minutes or less
Apply for your SME loan seamlessly with Singpass or Corppass
A business loan for SMEs optimises your working capital
from 4.28% per month*
Up to
24 months*
0%
*Terms and Conditions apply
A business loan in Singapore is a sum of money which a company borrows from a bank or licensed money lender to fund their operations or expansion. The company repays their business loan in Singapore via a predetermined number of instalments over a chosen period of time. For example, one repayment every month across two years.
Functionally, a business loan for SMEs is identical to a personal loan for individuals. However, business loan amounts are usually larger than personal loans.
An SME loan in Singapore provides sizable funding to your business, ensuring you can pay your staff and vendors punctually. This keeps your company running smoothly.
As mentioned above, business loan amounts are usually larger than personal loans. This enables you to do more, such as opening a new office or production facility.
With an SME loan in Singapore, you can jump on growth opportunities — especially time-sensitive ones — right away. You don’t have to wait until your revenue is sufficient.
When you take up a business loan, you don’t have to resort to equity financing. i.e., selling your company’s shares — and giving up some control — to raise funds.
Applying for a business loan for SMEs with 111 Credit can be done online or at our office. We strive to approve your business loan application in under an hour.
Our SME loan’s fees and interest rate strictly follow the Ministry of Law’s rules. This empowers us to provide business loans which are affordable for all companies.
It’s important for us to know your company’s financial needs and situation because every business is unique. We can then tailor an SME loan offer to fit your requirements exactly.
Our business loan’s tenure ranges from 6-24 months, letting you select the repayment term you’re most comfortable with. You’re never stuck with a tenure that’s too long or short.
Your company must be registered and operating in Singapore for at least one year
Your business must be registered as a private company limited by shares
As a legalised money lender in Singapore, we work with you to understand your business requirements. Our goal is to provide you with the loans you need in the most hassle-free way.
Company’s Net Profit
Business Loan Limit*
Below S$20,000
S$3,000
S$20,000 and above
6 x your company’s monthly income
*Figures show the maximum amount you may borrow at any time across all licensed money lenders in Singapore, as stipulated by the Ministry of Law. The actual amount you can borrow is subject to the licensed money lender’s approval.
Supporting Document
Company’s bank statements for the past six months
Company’s latest annual financial report
Company constitution and bizfile
A photocopy of all directors’ and major shareholders’ NRICs
The latest CBS reports of all directors and major shareholders
The two most recent Notices of Assessments of all directors and major shareholders
Company office’s tenancy agreement
Wait for your application results in an hour. Review and sign the loan offer at our office
Receive your funds via bank transfer or in cash
A business loan functions like a personal loan, from the application stage to when your funds are disbursed. The only differences are the larger loan amounts and the requirement for a more comprehensive set of supporting documents
A large number of licensed money lenders — like 111 Credit — offer SME business loans in Singapore. Most banks have SME business loans in Singapore available, too.
The average monthly interest rate for SME loans in Singapore starts at 4.28% monthly.
Yes, you can still obtain a business loan despite a bad credit score. However, keep your expectations reasonable as there are loan limits in place. Approval for our business loan for SMEs considers your company’s income first as opposed to your credit score. That being said, having a good credit score can lead to a better loan offer.
No, you don’t. However, if your company’s credit score is bad, consider having a personal guarantor for your SME loan application. This increases the odds of having your business loan approved.
The usual tenure for our SME loan is between six and 24 months.
All it takes from application to approval is three quick steps. Don’t miss this opportunity to take your company to the next level!
