Business Loan in Singapore —
Running a business means solving problems every day. But a cash flow gap does not care how capable you are. The supplier invoice is due Friday. Payroll is due next week. The bank wants two to three years of audited financials. Your business is growing faster than its paper trail. Or the bank has the paperwork and still said no because your revenue is below their threshold. Swift Credit assesses what your business earns now — its current cash flow, its profitability, and the standing of the directors. Not how long ago you registered.
A new company is not a bad company. Banks use age as a shortcut because they assess thousands of applications a month. We assess yours now.
Cover salaries when client payments arrive late
Buy stock before a sale cycle or peak season
Fund tools, machinery, or hardware your business needs now
Upgrade your premises without emptying your operating account
Renew business licenses, certifications, and annual fees
Cover unexpected costs before they become business-stopping
Pay suppliers on time and protect your trade relationships
Keep operations running between revenue cycles
Your borrowing limit is assessed based on your business revenue, director profile, and existing MLCB loans. The table below is a general guide. Your exact offer is confirmed at the assessment stage before you visit our office.
Every licensed moneylender in Singapore must follow these exact caps. No exceptions.
A worked example so you know exactly what to expect.
Your repayments reduce the outstanding principal each month. Interest is calculated only on what you still owe — not the original sum. We walk through this calculation with you before you sign.
Start your application instantly using Singpass MyInfo or speak directly with our team for quick assistance. Fast approval, clear terms, and no hidden steps.
Company Documents:
Director Documents:
Additional (if applicable):
If you apply via Singpass MyInfo, your personal identity details are pulled automatically from government records. You will not need to manually submit your NRIC. Business financial documents are still required and can be uploaded or brought to our office.
Join over 10,000 clients who have experienced the Swift difference in Bugis.
Takes 2 minutes. No paperwork required at this stage. Your data will be automatically extracted from the Government database. Fill in the remaining information required and submit it to us.
Our team reviews your application and contacts you. We confirm what you qualify for before you visit. If you do not qualify, we tell you at this stage. You do not travel to us for an uncertain outcome.
MinLaw requires all loan agreements to be signed in person at our registered office. This protects you. We walk through the full contract before you sign. You know the interest rate, the monthly repayment, and the total cost before your pen touches the paper. You can walk away at any point at no cost. Funds are disbursed to you the same day after signing.
Start your application now using Singpass MyInfo, or contact us directly for assistance.
Swift Credit has been MinLaw-licensed since 2009. Business loan assessments are conducted by the same team that handles personal loans — directly, transparently, and without unnecessary delay.
Yes. A startup or young enterprise may still apply for a business loan even if it has been operating for less than one year.
The lender may assess the company’s current revenue, cash flow, business account activity and ability to support repayment. The directors’ income, existing financial commitments and credit history may also form part of the approval process.
A six-month-old SME with consistent turnover and stable cash flow may have a stronger chance of approval than an older business with irregular income or unpaid obligations. Approval is always subject to the lender’s eligibility criteria and affordability assessment.
The documents required may depend on the business structure, loan amount and financing purpose. You may be asked to provide:
A private limited company may also need to provide details of its directors, shareholders, subsidiaries and shareholding structure.
Business financial documents may still be required even when personal identity details are retrieved through Singpass or MyInfo Business.
The assessment requirements depend on the lender and the structure of the applicant company.
Directors, guarantors or shareholders involved in the loan application may need to provide identity documents and information about their financial standing. The lender may also review existing borrowing obligations, credit history and the relationship between the applicant and the business.
For a Pte Ltd company, the lender may ask whether the relevant shareholding is held directly or indirectly and whether any subsidiary or related enterprise is involved.
Not every shareholder will necessarily be treated as a borrower. The final requirements should be explained clearly before the application proceeds.
The approved loan amount depends on factors such as:
A business with strong revenue does not automatically qualify for a larger loan. The lender must still determine whether the proposed monthly instalment is manageable.
Ask for a written breakdown showing the approved sum, repayment schedule, interest rate, fees and total amount payable before accepting the loan.
A sole proprietor with a valid ACRA-registered business may apply, subject to the lender’s requirements.
Freelancers without a registered business entity may need to consider a personal loan or another form of financing instead. A business loan in Singapore generally requires evidence that the applicant is conducting genuine business activities.
A sole proprietor may be asked to provide business banking records, invoices, contracts and proof of income. The lender will assess both the business and the individual because the owner and business are not legally separate in the same way as a private limited company.
The initial online or Singpass application may take only a few minutes. However, the full business loan application process depends on how quickly the required documents can be verified.
Assessment may be completed within the same business day when:
Same-day approval or disbursement may be possible, but it should not be guaranteed. More complex SME business applications may take several business days.
The interest rate, administrative fee and permitted charges should be explained before you sign the loan agreement.
Where the financing is provided under the licensed moneylending framework, the applicable limits and terms may differ from those offered by banks or other financial institutions. The lender should clearly disclose:
Do not compare loans based only on the advertised interest rate. Review the total cost, terms and conditions, and amount received after any permitted fee is deducted.
Some business loans are unsecured, which means the borrower does not need to pledge property, equipment or other assets as collateral.
However, an unsecured loan may still require a director, business owner or guarantor to accept personal responsibility for repayment. The lender may also rely more heavily on cash flow, income and credit history when no collateral is provided.
A bank term loan, credit line or government-assisted financing scheme may have different requirements. Ask whether any personal guarantee, security or collateral is required before proceeding.
Repayment options depend on the loan product, approved amount and agreed tenure.
A business term loan is usually repaid through a fixed monthly instalment. Other financing arrangements may involve a credit line, short-term repayment schedule or lump-sum settlement.
Before accepting the loan, check whether the repayment plan suits your business cash flow. A flexible repayment structure may help a small business manage seasonal income, but longer tenure may increase the overall cost.
Make sure the repayment schedule leaves enough working capital for payroll, rent, supplier invoices and daily operations.
A business loan may help your business meet a specific, manageable financial requirement, such as:
Business owners should avoid borrowing without a clear repayment plan. Financing should support a defined need or help fund your business growth, rather than cover ongoing losses with no path to recovery.
SMEs may also compare alternatives such as a bank business term loan, credit line, SME Working Capital Loan or financing under the Enterprise Financing Scheme. Government-assisted schemes may have separate eligibility rules involving turnover, employment size, ownership and whether the company is registered and operating in Singapore.
MyInfo
