You’re on the right page if your company is established for less than 2 years. One of the greatest obstacle of a start up lies in the lack of capital. Let Capitalize assist you with business start-up loans or entrepreneur loans to give you that good head start!
- Incorporated in Singapore with at least 30% local shareholdings
- Business to be established for more than 6 months
- Existing business corporate account
- Active transactions in the business corporate account for the latest 3 months
- Company Profit & Loss, Balance Sheet records for 1 year depending on company establishment
- Personal Income Taxes for the latest 2 years > 30K
What You Can Qualify For
- 24K to 100k of unsecured loans from as low as 2.9% p.a simple interest (effective interest 5.5 p.a)
- Processing Fee: From $500 to $1000
- Tenure: 1 – 4 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?
Banks may revise their rates from time to time but as of today, the lowest rate that we can obtain for business owners is at an effective interest of 5.5% per year equivalent to simple interest 2.9% per year. However, do take note that there are also banks charging interest rates of up to effective interest 8.88% per year, equivalent to 4.8% simple interest per year. Rates are subjected to approval based on a company’s financial standing and profile.
3. What is the maximum quantum I can get?
The maximum loan quantum a start up can obtain is up to $100,000.
4. What is the tenure or period like?
The tenure is typically between 1 to 4 years. It is subjected to approval based on the company’s repayment ability and the quantum approved.
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 1 or 2 years
c. Latest 6 months Company Bank Statements
d. 1 year Financial Report (4 Line Statements/Profit and Loss, Balance Sheet). If company is established less than 1 year, this will not be necessary.
7. What are the processing fees I should be expecting from the banks/financial institutions?
Every bank or financial institution has different charges. The processing fee is a one time flat fee of $500 to $1000.
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 1 to 2 weeks and an additional 3 to 5 working days for account opening and loan disbursement upon signing of the Letter of Offer.
9. Are there any penalty charges for early repayment, be it in full or partial?
No. Early repayment in full or partial has no additional penalty fees. However, most banks and financial institutions will required a written notice at least 1 month in advance for the early repayment to occur.
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 1 to 2 weeks for approval taking into account all the necessary documents must have been received. Disbursement will take another 3-5 working days 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.