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You are here: Home / Blog / How to Apply for Startup SG Loan

How to Apply for Startup SG Loan

October 3, 2017 IN Blog

how to apply for startup sg loan

Startups that have successfully secured the initial capital and raised funding subsequently often do encounter cash shortage at various stages even as they progress. In order for startups to thrive beyond the cash constraints, it is imperative to provide ample access to debt financing. For this purpose, the government has instituted Startup SG Loan under the Startup SG umbrella.

Related Article: 6 startup sg pillars know

Government backed loans are offered by participating financial institutions for various purposes including working capital, equipment or trade financing.  The following is a snapshot of various government-backed loan schemes available to SMEs in general. Among them, the SME Micro Loan and SME Venture Loan specifically are featured under the Startup SG Loan scheme.

About Startup SG Loan and Government-backed Loan

Loan and Scope Quantum of Loan & Interest Repayment Period Eligibility Criteria
SME Micro Loan
  • Expenses for daily operations
  • Upgrading and automating factory and equipment
Up to S$100,000

Interest depends on assessment of the participating financial institution

4 years
  • Company registered and operating in Singapore
  • At least 30% local shareholding
  • Not more than 10 employees or annual sales not more than S$1 million
  • Group annual sales not more than S$100 million or group employment, not more than 200
SME Venture Loan
  • Working Capital
  • Asset Financing
  • Project Financing
  • Mergers & Acquisitions
Up to S$5,000,000

Interest rates, repayment structures, collateral and warrant structures
depend on assessment of the participating financial institution

–
  • Company registered and operating in Singapore
  • At least 30% local shareholding
  • Group annual sales not more than S$100 million or group employment not more than 200
SME Equipment and Factory Loan
  • Automating and upgrading factory and equipment
  • Purchasing JTC/HDB business or factory premises
UP to S$15 million

Interest depends on assessment of the participating financial institution

Up to 8 years for equipment loans
Up to 10 years for factory loans
  • Company registered and operating in Singapore
  • At least 30% local shareholding
  • Group annual sales not more than S$100 million or group employment not more than 200
SME Working Capital Loan

Working capital

Available from 1 June 2016 to 31 May 2019

Up to S$300,000

Interest depends on assessment of the participating financial institution

Up to 5 years
  • Company registered and operating in Singapore
  • At least 30% local shareholding
  • Group annual sales not more than S$100 million or group employment not more than 200
Loan Insurance Scheme (LIS) and LIS+
  • Inventory financing
  • Pre-delivery Working Capital
  • Invoice/ receivables factoring
  • Banker’s Guarantee for contractual fulfilment
No capUp to S$ 5 million per group

1.5% per annum on the amount insured the government

– For Domestic Trade Financing

  • Company registered and operating in Singapore
  • At least 30% local shareholding
  • Group annual sales not more than S$100 million or group employment not more than 200

For International Trade Financing

  • Global headquarters anchored in Singapore
  • At least 3 strategic business functions such as marketing and business development, banking and finance, and R&D in Singapore
  • Annual sales turnover of applicant’s company and its subsidiaries not more than S$300 million for non-trading companies and not more than S$500 million for trading companies
Bridging Loan for Marine and Offshore Engineering (M&OE) Companies
  • Working Capital

Available for one year from December 2016

Up to S$5 million per company or up to S$15 million per borrower group

Interest depends on assessment of the participating financial institution

Up to 6 years
  • Company registered and operating in Singapore in the M&OE sector
  • At least 30% local shareholding

Read More » Apply for an OCBC Business First Loan


Grab the Startup SG Loan opportunity and start a business today

Singapore Company Incorporation is the leading force in company registration in Singapore. With a gamut of services including Work Visas & Relocation, Accounting and Taxation, Business Licenses, Company Secretary and Trademark Registration, we are well-positioned to support your business.

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Suggested Readings

6 Startup SG Pillars You Have To Know startup schemes and grants singapore13 Startup Schemes and Grants in Singapore No collateral to apply for business loan? Try the OCBC Business First Loan how to apply for startup sg equityHow to Apply for Startup SG Equity
← What to Look Out For: New Work Pass Card and SGWorkPass Mobile App How to Apply for Startup SG Accelerator →

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