Your Trusted Corporate Loans Specialist +65 6717 8681 enquiry@capitalize.com.sg

With the announcement of this year’s Budget 2016, the government has devoted more resources to help firms build deeper capabilities, develop their people, scale up and internationalise.

The aim, said Finance Minister Mr Heng, is to enable Singapore firms to emerge stronger to benefit from the broader global recovery when it takes place. Read on for more information on the SME Working Capital Loan and Revitalisation of Shops Loan schemes that have been introduced for SMEs this Singapore Budget 2016.

Loan Amount

Type of loan

Years of Establishment

Industry

Company Yearly Sales Revenue

Company Requirements

  • Incorporated in Singapore with at least 30% local shareholding
  • Business to be established for more than 6 months
  • Existing business corporate account
  • Active transactions in the business corporate account for the latest 6 months
  • Company Profit & Loss, Balance Sheet records for the latest 1/2 years depending on establishment

Personal Requirements

  • Personal Income Taxes for the latest 2 years > 30k

What You Can Qualify For

SME Working Capital Loan Scheme:

  • Up to 300K of unsecured loans from 3.69% p.a simple interest (effective interest 6.75% p.a) onward
  • Processing Fee: $500 or 1% of approved amount, whichever is higher
  • Tenure: 1 – 5 years

 

Revitalisation of Shops Scheme:

  • Up to 100K of unsecured loans from 4.5% p.a simple interest
  • Processing Fee: $500 + 1% OR $500 Commitment Fee + $500 Annual Fee
  • Tenure: 1 – 3 years
1. How does Capitalize work?

We help our clients to obtain the business financing facilities they require from the lowest interest costs possible and at the quantum they need. According to their business nature, we’d also advise accordingly the most suitable facilities to meet our clients’ needs. We do not zoom in directly to the highest interest rates in the market but this is also subjected to approval on case to case basis depending on the company’s financial standing and profile. Should your company not be able to obtain any facilities at the current moment, we would advise you on areas for improvement so that you may qualify in future.


2. What is the lowest interest rate I can get?

The SME Working Capital Loan Scheme is from 3.69% p.a simple interest (effective 6.75% p.a) while the Revitalisation of Shops Scheme is from 4.5% p.a simple interest.


3. What is the maximum quantum I can get?

Up to 300K for the SME Working Capital Loan and up to 100K for the Revitalisation of Shops Scheme. Depending on the company’s financial health and portfolio, all quantum is subjected to approval. For other types of Business Loans, please contact us directly at +65 6717 8681 for loan details.


4. What is the tenure or period like?

The tenure is between 1 to 5 years. It is subjected to approval based on the company’s repayment ability and the quantum approved as well. For other types of Business Loans, please contact us directly at +65 6717 8681 for loan details.


5. How do I apply for the loan?

Do allow our trained consultants to conduct a preliminary assessment for you based on your documents to determine the maximum quantum we can obtain for you or if the quantum you’d require is achievable. Upon receiving your documents, our consultants will schedule an appointment with you.


6. What are the documents required?

The basic documents required for a preliminary assessment are:
a. Directors’ NRIC front and back
b. Directors’ Notice of Assessment (Income Tax) for the latest 2 years
c. Latest 6 months Company Bank Statements
d. Latest 1/2 years Financial Reports (Profit and Loss, Balance Sheet) depending on establishment


7. What are the processing fees I should be expecting from the banks/financial institutions?

SME Working Capital Loan: $500 or 1% of approved amount whichever is higher.

Revitalisation of Shop Loan: $500 + 1% of approved amount or $500 commitment + $500 annual fee.


8. What is the timeline needed for the loan to be approved?

Upon receiving all the required documents in full, the processing time for an approval would range between 2 weeks to 4 weeks and an additional of up to 10 working days for account opening and loan disbursement. For other types of Business Loans, please contact us directly at +65 6717 8681 for loan details.


9. Are there any penalty charges for early repayment, be it in full or partial?

No, there isn’t. For more details, you may contact us at +65 6 717 8681.

Types of Business Loans

SME Working Capital Loan Scheme

To support viable SMEs that may have cash flow concerns or wish to continue growing their business, the SME Working Capital Loan Scheme will be available for a period of 3 years. An installment loan that is also supported SPRING Singapore, the government will co-share 50 per cent of the default risk of such loans with participating financial institutions, to encourage lending to Singapore’s SMEs. Get your SME Working Capital Loan before it ends!


Revitalisation of Shops Scheme

This scheme has been enhanced in this year’s Budget 2016 to better support promotional activities and upgrading projects in HDB town centres and neighbourhood centres. Speak to Capitalize today if your business is located in HDB areas. Let us help you obtain funds to renovate your shop or increase your marketing programs and in turn, & increase your competitiveness.



How It Works

  • Fill in the form for us to understand your business profile better.
  • Allow us 3 working days to contact you upon receiving your form.
  • Our Business Development Team will fix an appointment with you at your convenience to brief you on the entire procedure, advise you on how we can help you through our platform and lastly, obtain the necessary documents required for the application.
  • Submission, *Approval and Disbursement

* It takes approximately 2 to 4 weeks for approval taking into account all the necessary documents must have been received. Disbursement will take another 10 working days approximately upon signing of the Letter of Offer. We do not wish to over promise on the time frame but please be rest assured that we will most certainly do our best for you. Every client is important to us at Capitalize.

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