Frequently Asked Questions

What is the difference between Micro Term Loan and Business Term Loan?
What is Trade Financing/Import Facility?

It is a financing solution that fund the company’s purchase of goods to ease the company cash flow. The financial institution will pay the company’s suppliers basing on invoice and company will repay the bank in a given tenure (30-120 days).

How Do Banks Assess My Eligibility?

To determine the eligibility of your loan application, the bank will assess using the following:

  • Credit assessment check of guarantor using NOAs
  • Credit assessment check of company using financial statements and bank statements
  • Credit Bureau(Singapore) check on history of banking facilities conduct& bankruptcy
What type of document will the bank require?
  • Latest 6 months corporate bank statement
  • Guarantor’s IC and Notice of Assessment for the latest 2 years
  • Financial Statements for latest 2 years
How does company loans affect my personal liability?

Companies are assessed as a separate entity from individuals. But the director/ key person will be required to be the principle guarantor for the company facility. In the event if the company fails to pay up, the liability will be on the guarantor.

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