What are the basic eligibility requirements for a startup business loan?

To qualify for most startup loans in Singapore, your business must be registered with ACRA and operate for at least six months with a minimum monthly revenue of around SGD 10,000. Government-assisted schemes such as the Enterprise Financing Scheme may have more flexible terms for innovative startups or businesses in emerging industries.

Can I get a business loan with no collateral?

Yes. Many financial institutions and fintech lenders provide unsecured startup loans, meaning no collateral is required. These loans often carry higher interest rates and may need a personal guarantee from the business owner.

How much can a startup borrow?

Loan amounts vary widely. Most startups can borrow between SGD 10,000 and SGD 500,000 depending on revenue, creditworthiness and business potential. Government-backed loans may offer higher limits with risk-sharing features for eligible SMEs.

How long does loan approval take?

Approval timelines depend on the lender. Traditional banks may take one to three weeks, while digital lenders or fintech platforms can approve loans within 24 to 72 hours if all documentation is complete, including financial statements and a solid business plan.

Are there government programs supporting startup loans in Singapore?

Yes. Examples include the Enterprise Financing Scheme SME Working Capital Loan and the Startup SG Founder Grant. These programs provide working capital support and encourage entrepreneurship through funding and mentorship.

What if I have a poor credit score?

A low credit score may limit your options, but some lenders place more weight on business potential, cash flow and operational performance. Applying with a co-guarantor or improving your credit before submitting an application can also increase approval chances.

Startup Business Loans in Singapore

By Trinh Thanh

Head of Research

Glossary

Disclosure

By Trinh Thanh

Head of Research

Getting a business loan as a startup is challenging since most banks require 2 or more years of operating history, audited financials and proven profitability. Options do exist for younger businesses, some banks like OCBC Business First Loan accept businesses from 6 months old. Alternative lenders such as Funding Societies, Validus and ANEXT Bank have more flexible requirements.

The government's EFS scheme offers 70% risk sharing for young enterprises under 5 years old. This page explains what financing options are available to startups, what you need to qualify and how to improve your approval chances.

More Details

Can Startups Get Business Loans?

Banks typically require 1 to 2 years history but some alternative lenders accept businesses from 6 months. Licensed moneylenders are most flexible but most expensive. Government schemes offer better terms for eligible startups.

How Much Can Startups Borrow?

Microloans: $10,000 to $100,000
Digital lenders: $20,000 to $500,000
Bank loans (if eligible): $50,000 to $300,000
Amount depends on: Revenue, cash flow and director's personal profile

What Rates Should Startups Expect?

Higher than established businesses due to increased risk:

Alternative lenders: 12 to 18% p.a. EIR
Licensed moneylenders: 1 to 4% per month
Banks: 8 to 12% p.a. EIR
EFS-WCL: 7 to 10% p.a.

What Improves Approval Chances?

Strong director personal credit
Consistent bank deposits showing revenue
Clear business plan and projections
Director personal income documentation
Existing customer contracts
Some operating history (6 months minimum)

Disclosure

Glossary

How much do you want to borrow?

$50,000

$500,000

Over what period would you like to pay?

1 Month

60 Months

Total Cashback

Your monthly payment

Rate Disclaimer*

*Based on a $20,000 loan at 6.95% APR over 5 years, read more

How much do you want to borrow?

$50,000

$500,000

Over what period would you like to pay?

1 Month

60 Months

Total Cashback

Your monthly payment

Rate Disclaimer*

*Based on a $20,000 loan at 6.95% APR over 5 years, read more

Expert Advise

Financing Options

Our Expert says

Your Personal Credit Is Your Startup's Credit

As a startup you don't have years of business financials to assess. Lenders fall back on the next best indicator which is you. Your personal credit score, income, assets and existing debt directly impact approval chances and rates. Before applying for a startup loan check your personal credit report, clear outstanding debts and ensure no late payments in recent months. A director with strong personal credit can often secure financing that the startup alone wouldn't qualify for. Most startup loans require personal guarantees anyway so lenders are already viewing this as partially personal lending.

Trinh Thanh

Head of Research

Best Financing Options for Startups

Options available for businesses under 2 years old.

OCBC Business First Loan

Best for: Startups with 6 months history

One of few bank products accepting businesses from 6 months old. Up to $100,000 with simplified application. Interest from 8% p.a. Fastest bank option for young businesses.

Min History: 6 months Max Amount: $100,000

Alternative Lenders

Best for: Startups needing fast flexible approval

Accept businesses from 6 months. Fully digital application. Faster approval than banks in 1 to 3 days. Higher rates of 12 to 18% p.a. but more accessible. Up to $500,000.

Min History: 6 months Max Amount: $500,000

EFS-WCL Young Enterprise

Best for: Startups meeting EFS eligibility

Government-backed with 70% risk sharing for young enterprises under 5 years with over 50% individual ownership. Lower rates than commercial products. Requires 30% local shareholding.

Min History: Varies by bank Max Amount: $500,000

Micro Business Loans

Best for: Startups needing smaller amounts

Designed for smaller capital needs of $10,000 to $100,000. More accessible than full SME loans. Available from digital lenders and some banks.

Min History: 6 months Max Amount: $100,000

Who Provides These Loans in Singapore?

Compare lender types, requirements and typical terms.

OCBC Business First Loan

One of few bank products for businesses from 6 months old with simplified requirements.

Min History: 6 months

Max Amount: $100,000

Rate: 8 to 11% p.a.

Funding Societies

Digital lender accepting startups with fast approval process.

Min History: 6 months

Max Amount: $500,000

Rate: 12 to 18% p.a.

ANEXT Bank and GXS Capital

Digital banks with startup-friendly lending criteria.

Min History: 6 months

Max Amount: $500,000

Rate: 10 to 15% p.a.

No initial impact on credit score
Up to 1% Cashback & Vouchers
MAS registered lenders only

How much do you want to borrow?

$50,000

$500,000

Over what period would you like to pay?

1 Month

60 Months

Total Cashback

Your monthly payment

Rate Disclaimer*

*Based on a $20,000 loan at 6.95% APR over 5 years, read more

How to Apply for a Startup Business Loan

Check your personal credit

Your personal credit score directly impacts approval. Clear outstanding debts and ensure no late payments before applying.

Gather business documents

Prepare ACRA BizFile, latest 6 months business bank statements and any customer contracts or POs if available.

Prepare personal documents

Directors' NRIC, personal income proof (payslips, NOA) and personal credit report are typically required.

Choose your lender

OCBC Business First Loan for bank rates, digital lenders for speed, or EFS-WCL if you meet eligibility requirements.

Submit application

Apply online via lender's portal. Digital lenders approve in 1 to 3 days, banks take 3 to 7 days.

Pros & Cons of Startup Business Loans

PROS

Options exist even for businesses under 2 years
Digital lenders offer fast flexible approval
EFS young enterprise provides government support
Build business credit for future financing

CONS

Higher interest rates than established businesses
Personal guarantee almost always required
Lower loan amounts available
Many banks still require 2 years history

How to find the Right Startup Loan (FAQs)

Can I get a loan with less than 6 months history?

Licensed moneylenders may approve based on director's personal income. Some alternative lenders consider businesses from 3 months with strong director profiles.

Do I need revenue to get a startup loan?

Most lenders require some revenue even $10,000 to $20,000 monthly. Completely pre-revenue businesses typically need equity funding not debt.

Will I need a personal guarantee?

Almost certainly yes. Startup loans are high risk for lenders so personal guarantees from directors are standard.

Our customers trust us when it comes to making important borrowing decisions

Aya Medel

•

4 months ago

I used ROSHI platform to find the best loan offers. Just need to fill up some details and wait for loan offers and can choose which one you like. It is totally free and can receive vouchers and cashback based on the loan amount approved. Thank you ROSHI

Everlean

•

9 months ago

I can’t thank Roshi enough for helping me find the best financial institution for my DCP! The guidance and support were absolutely amazing—everything was explained clearly and tailored to my needs. Thanks to Roshi’s help, I’m now on track and completely debt-free in just 12 months! 💪🏼 I couldn’t be happier with the outcome and highly recommend Roshi to anyone looking for smart, reliable financial advice.

Mohamed Faizal Jaafar

•

8 months ago

With the help of the ROSHI Support link to partner, I had a great experience with EZY Loan. The online application was simple, document verification was fast, and the funds were credited on the same day. The staff were professional and explained everything clearly, with no hidden fees. Overall, an excellent and hassle-free service!

•

2 months ago

Great offers with low interest rates. Better than Lendela! Plus there is a 0.50% cashback and $20 grocery voucher upon approval and disbursement of loan!

Source: Google

Explore Other Financing Options

Startup loans are one option but consider alternatives. Micro business loans offer smaller amounts with easier approval. Government grants from Enterprise Singapore provide non-repayable funding for specific purposes. Revenue-based financing suits startups with consistent revenue. Invoice financing works if you have B2B customers.

ROSHI Pte Ltd. (UEN: 202222480E), incorporated on 29 June 2022, is a loan matching platform that connects Singaporean borrowers with over 40 licensed moneylenders (regulated by the Ministry of Law) and banks (regulated by the Monetary Authority of Singapore).

Our Services

As an independent marketplace providing auxiliary services to the financial sector, we specialize in facilitating loan applications by matching borrowers with appropriate lenders from our network of licensed lending partners. Unlike comparison websites that cover multiple financial products, ROSHI focuses solely on connecting borrowers with lending solutions tailored to their needs.

Important Information

While we strive to keep all product information accurate and up to date, the information published on our site should not be construed as financial advice and does not consider one's personal needs and financial circumstances. The information on our website provides users with factual product information and general guidance, but should not be considered a substitute for professional advice from a licensed financial advisor. Consumers should carefully consider whether loan products featured on ROSHI are appropriate for their personal needs and financial situation.

Product Listings

Loan products displayed on our platform are sorted based on various factors including interest rates, fees, promotions, features, approval criteria, and popularity. ROSHI provides various comparison tools and filters to help consumers evaluate these factors and understand the benefits of different loan products. All lenders on ROSHI are licensed, including moneylenders regulated by the Ministry of Law and banks regulated by the Monetary Authority of Singapore.

Transparency and Independence

ROSHI takes an open and transparent approach to our loan matching services. While we operate independently, consumers should be aware that our platform does not include all available loan products in Singapore. We work with a curated network of licensed lenders and continuously strive to provide borrowers with quality lending options. Some lending institutions may offer their services through multiple channels, brands, or associated companies, which might make it difficult for us and consumers to identify all available options. ROSHI is committed to enabling consumers to make informed borrowing decisions through unbiased and well-researched product information.

Additional Information

For more information about our services, please read our Terms of Use and Privacy Policy.

Useful Resources

Verify Licensed Moneylenders

Before engaging with any lender, verify their license through the Ministry of Law's Registry of Moneylenders:

Website: https://rom.mlaw.gov.sg
List of Licensed Moneylenders: rom.mlaw.gov.sg/information-for-borrowers/list-of-licensees
Registry Contact: 1800-2255-529

Verify Licensed Financial Institutions

To verify banks, finance companies, and other financial institutions regulated by the Monetary Authority of Singapore:

Startup Business Loans in Singapore

Fact-checked

Glossary

Disclosure

Useful Resources

Fact-checked

Can Startups Get Business Loans?

How Much Can Startups Borrow?

What Rates Should Startups Expect?

What Improves Approval Chances?

Disclosure

Glossary

Useful Resources

Your monthly payment

Your monthly payment

Expert Advise

Financing Options

Your Personal Credit Is Your Startup's Credit

Best Financing Options for Startups

Who Provides These Loans in Singapore?

Your monthly payment

How to Apply for a Startup Business Loan

Pros & Cons of Startup Business Loans

PROS

CONS

How to find the Right Startup Loan (FAQs)

Can I get a loan with less than 6 months history?

Do I need revenue to get a startup loan?

Will I need a personal guarantee?

Our customers trust us when it comes to making important borrowing decisions

Explore Other Financing Options