If you’re looking for the best available business loans in Singapore, you’ve come to the right place. Whether you need a temporary bridging loan, unsecured business term loan or more traditional business financing, Moneylender Review is here to make it happen.


Why Get a Business Loan Using Moneylender Review?

With so many amazing banks and competitive money lenders on the market, finding business financing with the right interest rates, repayment period and application processing time can be challenging – but we want to simplify the application steps.

Find your perfect business loan in Singapore in a matter of seconds with Moneylender Review. We compare deals from top licensed moneylenders, granting you faster access to the funds you need.


How can Moneylender Review help your business?

If you’re looking for a suitable SME loan, Moneylender Review can help your business in the following 5 ways:

  1. Compare and contrast today’s top loans
  2. Moneylender Review lists, rates and reviews all the best SME business loans from money lenders in Singapore, so you can compare quickly and easily.

  1. Enjoy easier applications
  2. Personal loans can be used for multiple purposes, like meeting expenses of a medical emergency, travel, house renovation, as well as debt consolidation, etc.

  1. Get your SME loan approved fast
  2. We compare loans from leading licensed moneylenders, who typically have faster, more lenient application processes than banks.

  1. Find out what other borrowers think
  2. When comparing business loans with Moneylender Review, you can browse genuine customer reviews to find out what other SME borrowers think of today’s best deals, too.

  1. Get a tailored loan to suit you
  2. By entering your details into our online application form, you can specify exactly what you need and we’ll send you 3 suitable quotes from licensed moneylenders immediately. It really is that easy!

Keep reading to find out what’s on the SME loan market, and how we make the magic happen. Or simply fill out Moneylender Review’s quick and easy application form today.

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What Are the Types of SME Business Loans Available?

With such a broad selection of bank loans, working capital loans, SME micro loans and more on the market, it’s not surprising that many small company owners get confused when approaching financial institutions for an SME loan that offers a good deal per annum.

Here’s a brief explanation of some of the most popular loan options small businesses have to choose from:

  • Moneylenders’ Business Loan
    Here at Moneylender Review, we’re all about finding the best deals from licensed moneylenders. Most Singaporean moneylenders will offer business loans up to $200k available over the course of 24 months, with terms and conditions differing from lender to lender.
  • SME Working Capital Loan
    In Singapore 2020, SMEs can borrow up to $1 million under the Enterprise Financing Scheme (EFS-WCL). These loans involve 90% risk sharing and are designed to help businesses with a cash flow shortfall.
  • Unsecured Business Term Loan
    Small companies can borrow a maximum loan of up to $300k unsecured with a repayment period of anywhere up to 5 years. Expect to pay back a regular amount per month, potentially with a small processing fee.
  • SME Micro Loan
    This is a loan best suited to super-small businesses who wish to apply for a business loan with a loan quantum of up to $100k. Virtually any new business can enjoy a maximum loan tenure of up to 4 years.
  • Temporary Bridging Loan
    If your business has been hit hard by Covid 19, this could be the loan for you. In Singapore 2020, these small business loans enable firms to borrow up to $5 million with lower business financing costs per annum – offering a helping hand after the Covid 19 crisis.
  • Invoice Financing Loan
    As a sort of alternative to traditional business borrowing in Singapore, small businesses can monetize their accounts receivable and unpaid invoices to boost bank accounts by $300k – but this might not be for everyone.
  • Property and Equipment Financing Loan
    Small firms can often secure a great effective interest rate by financing the purchase of fixed assets, such as equipment, machinery or commercial and/or industrial premises. The collateral involved can offer big savings over unsecured business loans, too.


How Long Do Loan Approvals Take?

Whether you need financing fast, or your cash flow is healthy enough to cover at least 6 months before you receive that essential financial boost, it’s important to know how quickly your chosen business loan application will take to process – especially as this can vary between different providers and loan types.

If you’re using banks in Singapore, processing times of up to 3 days are typical, but some more complex loans, like temporary bridging loans, could take up to 1 month – so be prepared to sacrifice loan type or best rates per annum for faster approval times if necessary.

In most circumstances, licensed moneylenders can usually be approved in just one hour or less, making them a better fit for businesses that need money fast. Compare with Moneylender Review today .


What Documents Do I Need To Bring?

To apply for a business loan through a licensed moneylender, you will need:

  • To be properly registered in Singapore
  • To have a minimum annual turnover of $60k
  • To have been operational for at least one year

You may also need to present:

  • All directors / partners NRIC
  • A recent information report from the ACRA
  • Recent financial statements and income tax assessment notices
  • Recent invoices and business contracts
  • 6 months’ worth of bank statements
  • A list of assets owned by the business
  • Any recent utility bills paid in the company’s name
  • SingPass to access CPF, HDB, IRAS e-services
  • Any office or shop tenancy agreements


What is a Good Credit Score to Get a Business Loan?

Credit score criteria will differ between moneylenders, but Moneylender Review’s loan comparison service will only display loans that match your business, based on the information you input into our quick and easy form.

Generally, you will need to have a credit rating of AA, BB or CC to be deemed “credit-worthy” for a corporate bank loan. The credit grading system in Singapore allocates a grade to individuals in the range of AA – HH, with AA being the best grade, and HX being the worst.

However, if your credit score happens to be below CC, this does not necessarily mean you won’t be able to apply – especially if you are using a licensed moneylender. In most cases, the lender will simply impose further conditions that you will have to fulfill. For example, you may have to provide an additional guarantor to the loan, or collateral to secure the loan.

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Our Picks of Best Financial Institutions in Singapore

Citibank – Unsecured business loans with fast access

If you’re looking for fast and efficient loan approval, Citibank offers competitive interest rates on unsecured loans from 2 years up to 4 years. Repayment periods are adjusted to match your cash flow and funds are fully flexible to suit your small business’ needs.


  • Straightforward application process
  • Immediate lump sum disbursement
  • Fully customizable repayment terms
  • Financing available up to $350k
  • Fast access to funds

Things to remember:

  • SMEs must have been operational for more than 2 years (3 years minimum)
  • Turnover must be $750k or more to apply
  • At least 30% of shareholdings must be owned by Singapore residents

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A1 Credit – Hassle-free, flexible loan packages

Small companies struggling with paying salaries, expanding to new premises or balancing their overheads can borrow between $10k and $200k with A1 Credit. This well-established moneylender has been supporting growth-hungry SMEs with hassle-free loans since 2009.


  • Quick and easy to apply
  • Offers “the fastest approval time possible”
  • All credit scores are eligible
  • Customer service is superb
  • Consistently ranks highly in online reviews

Things to remember:

  • Businesses must have been operational for 1 year
  • Minimum annual turnover of $60k is required
  • Your business must be registered in Singapore

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365 Credit Solutions – Attractive SME loans for younger companies

Businesses in the early stages of their SME life cycle who have been in operation for 12 months or more can borrow up to $200k with 365 Credit Solutions, one of Singapore’s top licensed moneylenders. And the application steps are super-straightforward, too.


  • Crystal-clear 4 step approval process
  • Widely recommended among business borrowers
  • Business loans available up to $200k
  • Open 7 days a week
  • A great option for younger businesses

Things to remember:

  • Your business must have been active for 12 months or more
  • SME applicants require a minimum turnover of $60k per annum

Read Review Visit Website

Bugis Credit – Straightforward SME and self-employed loans

Bugis Credit claims to offer the most flexible SME loans in Singapore, all available with minimum hassle and a maximum loan amount of up to $200k. We love the moneylender’s instant cash disbursement and idiot-proof application process. The interest rates aren’t half bad either!


  • Fast, flexible loans available very quickly
  • Ideal for businesses with short term cash flow needs
  • Any enterprise Singapore, from SMEs to the self-employed, can apply
  • Lots of five-star ratings on reviews sites
  • Straightforward application steps

Things to remember:

  • Your SME must have been trading for at least 12 months
  • A minimum annual turnover of $60k is vital
  • Expect to prepare tax and financial statements for inspection

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GM Creditz – Capital loans perfect for long term expansion

GM Creditz is a great choice for SME owners who want to secure competitive interest rates on SME working capital loans geared towards business expansion. Whether you need a loan tenure for long term or financing for a shorter project, there’s a good chance GM Creditz will have the perfect loan for you.


  • Available to newer, younger businesses and SMEs
  • Quick and easy to apply online
  • Unsecured loans and SME working capital loans widely available
  • Flexible loan quantum and tenures on offer
  • Ideal for business expansion and production goals

Things to remember:

  • Be prepared for an in-person consultation
  • Your business must be registered in Singapore and at least 1 year old
  • You must have a minimum turnover of $60k per annum to apply

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Raffles Credit – Tried and tested loans from a trusted provider

Raffles Credit is one of the best-known names in Singaporean finance, which means you can be sure of an exceptional service and a reliable business loan. Raffles Credit tailors many of its products to suit SMEs, making them perfect for small business owners.


  • Robust loans from a trusted lender
  • Straightforward 3 step approval process
  • Loans available up to $200k
  • Consistently gets high rankings for customer service
  • Some loans grant businesses cash on the same day

Things to remember:

  • Businesses must be registered in Singapore and more than 12 months old
  • A minimum turnover of $60k is essential

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Fortune Credit – Superb SME loans to smooth over gaps in your finances

Fortune Credit understands that SMEs make up the backbone of Singapore’s business community, which is why it aims its products squarely at entrepreneurs and small business owners. It offers amazing effective interest rates, flexible loan amounts and more.


  • Competitive interest rates
  • Great deals for businesses that have been active for more than 2 years
  • Licensed moneylender in Singapore since 2010
  • Easy approval process
  • Good for unsecured loans

Things to remember:

  • Businesses must be turning over $60k
  • Your business must be registered in Singapore and have been in operation for 1 year

Read Review Visit Website


Find the Best Business Loans in Singapore with Moneylender Review

Here at Moneylender Review, we rate, rank and analyze the best SME business loans on the moneylender market, comparing processing fees, cash to bank account times and much more. We also offer a quick and straightforward business loan application service to help you find and apply for loans in Singapore with ease.

If you need business financing, apply for an SME loan, bank loan or micro loan via Moneylender Review today.


Frequently Asked Questions (FAQs)

Finding a business loan with the right effective interest rate, eligibility requirements and bank loan amount to suit your needs isn’t easy. If you’re still unsure how to find the best business loan for you, we’ve included some helpful FAQs below about temporary bridging loans, working capital loans, tenures, personal credit and more.

Business Loan

Do I need a good credit score to get a business loan in Singapore?

Different banks and money lenders will view personal credit histories and credit scores differently – but the notion that people with a bad credit score simply can’t get a business loan is a myth.

Sure, if you have a history of defaulting on payments, it might be wise to try and build up your rating using credit cards and other methods before applying. This is especially true before applying for specific types of business loan with banks, like a longer business term loan or unsecured business loan, for example. That said, if you’re looking at a temporary bridging loan to plug gaps in your cash flow, money lenders are usually much more lenient. 

Banks typically scrutinize your business loan term applications based on your credit score, but moneylenders tend to focus less on your score and more on income, business revenue and any other outstanding loans you may have. Specialist loans geared towards those with a lower score may come with a slightly less favourable interest rate, but there is usually the option of taking a longer tenure. Compare moneylender loans now.

What is the interest rate that I can expect?

Securing the best interest rate isn’t always easy when applying for a business loan, especially if your financial history isn’t in tip-top shape. Generally speaking, typical Singaporean business loan interest rates range from 5% to 15% and will be calculated on a principal monthly reducing basis.

By using Moneylender Review’s loan application service, you will be able to secure the best interest rate to suit your needs by comparing each business loan on the market with those offered by competing moneylenders. We’ll help you find the perfect long or short business term loan to meet your unique needs.

What is the difference between taking a business loan from a bank and a financial institution?

Depending on whether you’re applying for a business loan through a bank, moneylender or other financial institution, there will usually be differences in eligibility requirements, what interest rate you are entitled to and what processing fee you will be expected to pay.

Moneylenders might look more favorably upon applicants with lower credit scores, while banks will have different terms depending on whether you need a working capital loan, unsecured loan or other kind of financing. Tenures can make a difference too, especially if you need short-term cash, or a longer loan. It always pays to check your preferred lender’s T&Cs directly before applying.

Is it hard to get a business loan?

With at least 30 banks and more than 150 moneylenders in Singapore offering business loan products to SMEs, it’s never been easier to get a business loan. Just be sure you fulfil the bank or moneylender’s eligibility criteria before applying and remember to prepare all the documents you need for inspection, including 6 months’ worth of business bank statements.

Do start-up businesses need to apply for a specialist business loan?

Most banks and money lenders in Singapore are willing to grant a business loan to any SME that has been in operation for at least 6 months or at least 1 year, depending on their individual terms.