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Raffles Credit Pte Ltd is a licensed moneylender (License No. 31/2020) listed in the Registry of Moneylenders, under the Ministry of Law in Singapore.

Business Loan

Your future is just beginning. All you need to do is build it.

  • Secure and safe
  • Loan up to $200K
  • Suitable for all your business needs
  • Perfect for the small business owner
apply for loan now
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SME Business Loan Is Here To Keep Your Business Flourishing During Dry Spells

No matter what industry you belong to, future-proofing your business should never be undervalued. There are going to be unfortunate times –such as COVID-19 pandemic that put millions of MSMEs in Southeast Asia in peril– when you will be needing additional capital to get through dry-spells.

With robust financial support, through Raffles Credit’s business loan, you will be able to save your company from bankruptcy brought by the crisis.

business loan

Application Process

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Call or Apply Online

Apply from the comfort of your home with a few clicks using our online form. You may also reach us at 6235 1788

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Visit Our Office For In-Person Consultation

Upon confirmation, you will be asked to come to our office to customize your loan plan

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Receive Your Money on the Same Day

Get your cash as soon as the loan agreement has been signed

Eligibility & Requirements

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Your business or company must be registered in Singapore

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Your business must be operational for at least one year

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Your business has a minimum turnover of $60,000 a year

  • All directors and partners NRIC
  • Recent information report (Business Profile) from the Accounting & Corporate Regulatory Authority (ACRA)
  • Recent Income tax assessment notice (both personal & from the company)
  • Recent financial statement
  • Recent invoices or business contracts
  • Recent utility bills under the company name
  • Recent 6-month bank statements
  • List of assets owned by the company, directors & partners (if any)
  • Office/shop tenancy agreement (if any)

Google Reviews

  • 5 star review  All staff are very friendly and professional. Understanding client needs and processing time fast. Definitely will recommend to my friends whoever need the financial assistance👍

    thumb Michael Tan
    11/18/2020

    5 star review  Applied for a renovation loan with my husband from Raffles credit last month. The whole process was smooth and clear. Thumb up for all the friendly staffs in Raffles Credit... read more

    thumb Rachael Anne
    11/06/2020

    5 star review  Have been their customers for 1 years. Good customer service. provide good service and professional advice to my needs. The staff will help u plan your loan accordingly to what... read more

    thumb Rizam Ahmad Ariff
    10/29/2020
  • 5 star review  Friendly place to walk in and no stress to talk to staffs. They willing to hear your issues and to assist you. Specially Jane, and John very friendly and helpful... read more

    thumb Mimi doll
    10/13/2020

    5 star review  Service was tip top, loan officer were very helpful and will cater to your needs..Highly recommended!

    thumb suresh Lu
    10/12/2020

    5 star review  I am thankful to John & other friendly officers for the excellent service! Honestly, I am very skeptical about this lending industry because this is my first time seeking... read more

    thumb Ray Lin
    9/17/2020
  • 5 star review  John is very friendly and explains everything in very detail, gives me a stress free explanations and makes sure I fully understand before proceed to the loan application. Hence he... read more

    thumb Ramesh Ramesh
    9/16/2020

    5 star review  The service is good. The staff are the good listeners to understand our needs. Highly recommended!

    thumb Jonatthan DR
    9/13/2020

    5 star review  All Raffles Credit staff deserve the Excellent Service Awards. They are patient, polite and professional in helping my wife and me tide over the business crisis amid the pandemic. We... read more

    thumb My Cuty
    9/09/2020
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Ready To Get Started?


Request for a quotation from our friendly officers by filling out the form below


Frequently Asked Questions

A business loan in Singapore is a loan specifically used for the purpose of business, where an entity takes out an amount of capital from a licensed money lending and is repaid back with interest with regular repayment periods.

The funds or working capital are typically used for anything that a business needs, from hiring new staff, expanding their operations, settling off certain debts, buying new equipment and everything in between.

There are several things that a business must do and show before they are able to take out business loans Singapore with Raffles Credit. The business must first be registered in Singapore and have a minimum turnover of $60,000 a year. In addition, the business must be operational for at least one year in order to qualify.

Once you have passed all the requirements, you can apply either online or pay us a visit at our office in Raffles for your loan application. Our knowledgeable and always friendly loan officers will be happy to assist you in your next steps in obtaining the SME business loans that you need for your small business. Don’t forget to read, understand and ask any questions that you might have before signing the contract.

There are several things that a lender would look at while going through your application process. A lender like Raffles Credit would look at your ability to repay your loans, not the company’s credit history. Unlike banks, money lenders don’t need to review your credit scores for anything.

Our evaluation depends on your company’s current income and expenses. If it’s clear that your company is earning enough, you can get your financing released on the same day. Make sure to submit all the moneylender’s documentation requirements before anything else.

 

There many different ways business loans in Singapore can be used for. How it is used for is up to the business itself. Typically, the capital loan is used for the following purposes:

Deal With Your Debts Quickly

If your small business has an outstanding high-interest rate debt, you can immediately address it with a few loans for SMEs with a licensed money lender. It saves you time – which is crucial if you intend to avoid ballooning interest rates.

A money lender’s small business loan amount is reasonable, allowing you to take advantage of our loans to the fullest extent possible.

Reduce the Impact of Low Sales or Economic Problems

Nothing is wholly predictable in this world. You might find your projected sales rising in the next quarter or year. However, an incident — such as a viral outbreak, economic downfall, recession, and unprecedented financial bubbles — might make things slow temporarily. Unfortunately, this will force you to downsize your small business to make it manageable at any cost.

With an SME loan Singapore from Raffles Credit, you won’t need to wait for more than eight weeks to get your cash flow running again. You can even obtain the loan within the day of your application, especially during a time of slow sales. We know it’s crucial that you receive your funding fast to provide reprieve for your financial difficulties during the time and fast. That way, it alleviates the need to liquidate some of your crucial business assets to keep your business’s daily operations in motion.

Quick Expansion Without Any Hassles

Over time, your business will have a huge demand in different areas across Singapore. A loan makes it easy to commission a new branch with minimal expenses and time spent. You’ll have to wait with banks for quite a long time – as much as a month or two – to learn whether you’re qualified to receive a branch-opening loan.

With moneylenders, they’ll only question if you will have enough to repay your new funding request. With supporting documents and a well-laid expansion plan, you can quickly receive your loan, have great repayment dates with adequate spaces in between, and go through with your branch expansion plans and adequate cash flow.

Increase Production and Service Quality

New equipment can make your old or new business improve its efficiency and meet your logistical goals in no time with optimal cash flow.

Better tools and devices improve the productivity and stability of SME operations. By increasing your production and service quality, you give your brand better value and recognition from your customers.

The amount depends on your company’s current income, the feasibility of your expansion plan, taxes you pay, and expenses you contend with regularly (including payrolls and utilities) and other such factors. Generally, our business loans can go up to $200,000.

If your company does need more funds than what unsecured business loans can provide, we would suggest that you take on a secured loan with us in order to obtain more funds for your company. The collateral can be anything of value that the business holds that would act as a guarantee for the business. 

In the event Raffles Credit cannot provide your ideal funding estimate, we can give you a significant percentage for it (again depending on your company’s current income). It can be possible for you to obtain an additional loan with other money lenders in the form of personal loans for the remainder, but that is subject to further processing fees and interest rates.

No, it wouldn’t. Raffles Credit takes our client’s confidential information very seriously and we do not share your information with outside third parties for any reason. Rest assured that any information you provide to us will be kept and treated with the utmost respect. It is what makes us different from other lenders – our dedication to you.

At Raffles Credit, we understand that obtaining larger business loans in Singapore can be a daunting task. Typically, small business loans are unsecured loans that only give businesses a smaller amount than what a small business really needs. In order to obtain larger loans, a good way to do so is to obtain secured business loans, putting up collaterals from your business in order to secure a larger sum of money.

A business loan Singapore from a licensed money lender can be secured or unsecured loans, with secured loans allowing you to increase the loanable amount that you can take with a lender.

Yes. You & your partners would still have to repay the business loans that you have taken out with us. However, if you feel that your small business is about to fail or you are unable to repay the business loans, please speak to us. We will then work with you to find other alternatives.

We offer substantial business loans for small and medium enterprises planning to expand their services and expand their branches. We offer several types of business loans available to businesses in need of funds. The most common type of loans are secured loans, which require collateral, and unsecured loans, which do not require collateral.

There are also other types of loans that are offered by other lenders such as short term business loans, lines of credit, equipment financing and other loans available. Please visit us in our office in order to further discuss the type of business loan in Singapore that you need in order for your business to succeed.

As per the regulation of the Singapore Ministry of Law, all money lenders can only set a maximum interest rate cap of 4% per month for all personal loans. Any rates above this amount will subject the money lender to licensure review provided they have to comply with the imposed interest rate cap.

However, the maximum interest rate of 4% does not apply to a business loan. A business loan has different rates. Our interest rates range from 5% to 15%, depending on the amount taken, tenure and if there are other forms of collateral. 

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