Who can apply for a micro business loan in Singapore?

Any small business owner, sole proprietor or self-employed individual can apply if they meet the lender’s eligibility criteria. Most licensed moneylenders require that the business is registered with ACRA, has been operational for at least six months and shows a consistent revenue stream.

Are micro business loans offered by licensed moneylenders safe?

Yes. Borrowing from licensed moneylenders in Singapore ensures the loan process is regulated under the Moneylenders Act. This protects borrowers from unfair practices, provides transparent terms and limits the maximum interest and fees chargeable.

How fast can I get approved for a micro business loan?

Approval speed varies by lender. Many licensed moneylenders provide same-day or next-day approvals when all documents are complete. The streamlined application process makes micro loans ideal for urgent funding needs.

What can I use a micro business loan for?

These loans are versatile and can fund inventory purchases, supplier payments, short-term cash flow management, marketing campaigns or equipment upgrades. Borrow only for purposes that align with your business goals and repayment ability.

Micro Business Loans in Singapore

Q: What is a micro business loan?

A micro business loan is a small-scale financing option designed to support startups, home-based businesses or small enterprises with limited capital. Typical loan amounts range from a few hundred to tens of thousands of Singapore dollars and provide short-term working capital or funds for immediate operational needs.

By Trinh Thanh

Head of Research

Glossary

Disclosure

By Trinh Thanh

Head of Research

Micro business loans provide smaller capital amounts from $10,000 to $100,000 with more accessible eligibility requirements than standard SME loans. They're designed for sole proprietors, micro-enterprises, early-stage startups and small businesses that need working capital without the documentation burden of larger loan amounts.

Micro loans are offered by alternative lenders such as Funding Societies or ANEXT Bank, digital lenders like GXS Capital and some banks like OCBC Business First Loan and licensed moneylenders. This page explains what micro business loans cover, who qualifies and how they compare to larger SME financing.

More Details

What Is a Micro Business Loan?

A smaller business loan of $10,000 to $100,000 with simplified application requirements. Designed for micro enterprises, sole proprietors and small businesses that don't need or don't qualify for larger SME loans.

How Much Can I Borrow?

Range: $10,000 to $100,000
Typical amount: $20,000 to $50,000
Tenure: 1 to 3 years
Based on: Revenue, cash flow, business age

Who Are Micro Loans For?

Sole proprietors and freelancers
Micro-enterprises (under 10 employees)
Early-stage startups (6 months minimum)
Small F&B, retail or service businesses
Businesses needing modest working capital

How Do They Differ from Regular SME Loans?

Micro Loan: $10k to $100k, simplified documents, 6 months history, faster approval, higher rates

Regular SME Loan: $100k to $700k, full financials required, 1 to 2 years history, longer assessment, lower rates

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

Start Small, Build Credit, Scale Up

Micro loans aren't just for businesses that can't get larger loans they're a smart starting point for building business credit. A $30,000 micro loan successfully repaid over 12 months establishes a positive track record. When you need $200,000 next year you have demonstrated repayment history making approval easier and rates lower. Don't over borrow to maximise your facility, borrow what you need, repay on time and use the track record to access larger facilities when genuinely required.

Trinh Thanh

Head of Research

Best Financing Options for Micro-Enterprises

Options for businesses needing smaller capital amounts.

Micro Business Loan

Best for: Small working capital needs of $10k to $100k

Simplified application, faster approval, accessible eligibility. Ideal for micro-enterprises and sole proprietors. Higher rates than large SME loans but easier to access.

Cost: 10 to 18% p.a. EIR Speed: 1 to 3 days

OCBC Business First Loan

Best for: Bank loan with flexible eligibility

One of few bank products for businesses from 6 months old. Up to $100,000. Bank rates of 8 to 11% with faster approval than typical bank loans.

Cost: 8 to 11% p.a. Speed: 3 to 5 days

Altnartive Lenders

Best for: Fast fully digital approval

Accept businesses from 6 months. Amounts from $10,000. Fully online application. Higher rates of 10 to 18% but most accessible and fastest.

Cost: 10 to 18% p.a. Speed: Same day to 3 days

Business Line of Credit

Best for: Ongoing flexible access to smaller amounts

Revolving facility, draw as needed up to limit. Pay interest only on usage. Good for businesses with fluctuating smaller capital needs.

Cost: 8 to 12% p.a. Speed: 1 to 2 weeks (setup)

Who Provides These Loans in Singapore?

Compare lender types, requirements and typical terms.

Funding Societies

Digital lender offering micro loans with fast approval for small businesses.

Amount Range: $10k to $100k

Min History: 6 months

Rate: 12 to 18% p.a.

GXS Capital

Same day approval for qualifying businesses with fully digital process.

Amount Range: $10k to $100k

Min History: 6 months

Rate: 10 to 15% p.a.

OCBC Business First Loan

Bank product with flexible eligibility for younger businesses.

Amount Range: $10k to $100k

Min History: 6 months

Rate: 8 to 11% 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 Micro Business Loan

Check eligibility

Minimum 6 months operating history and $50,000 to $100,000 annual revenue. Active business bank account required.

Prepare documents

ACRA BizFile, directors' NRIC and latest 6 months bank statements. Some lenders require latest NOA.

Choose your lender

GXS Capital for same day approval, Funding Societies for flexibility, or OCBC Business First Loan for bank rates.

Submit online application

Fully digital process for most lenders. Personal guarantee from directors required.

Receive funds

Approval in 1 to 3 days for digital lenders, 3 to 5 days for banks. Funds disbursed to business account.

Pros & Cons of Micro Business Loans

PROS

Accessible, 6 months history vs 2 years
Right-sized, don't over-borrow
Faster approval in 1 to 3 days
Simplified documents
Build credit for larger future loans

CONS

Higher interest rates (10 to 18% vs 7 to 10%)
Lower amounts ($100k max)
Personal guarantee required
Shorter tenure (1 to 3 years)
May not meet larger capital needs

How to find the Right Micro Loan (FAQs)

What's the difference between micro loan and regular SME loan?

Micro loans are smaller ($10k to $100k vs $100k to $700k), have simpler requirements (6 months vs 2 years history), faster approval but higher rates.

Can sole proprietors get micro loans?

Micro loans are designed for sole proprietors and micro-enterprises. Many digital lenders specifically serve this segment.

Will a micro loan help me get larger loans later?

Successfully repaying a micro loan builds business credit history making approval for larger facilities easier.

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

Aya Medel

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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

Micro loans suit small capital needs but for larger requirements, small business loans offer up to $500,000 to $700,000. Startups can explore business loans for startups with tailored eligibility. For flexible ongoing access, a business line of credit provides revolving facilities.

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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.

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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.

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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:

Micro Business Loans in Singapore

Fact-checked

Glossary

Disclosure

Useful Resources

Fact-checked

What Is a Micro Business Loan?

How Much Can I Borrow?

Who Are Micro Loans For?

How Do They Differ from Regular SME Loans?

Disclosure

Glossary

Useful Resources

Your monthly payment

Your monthly payment

Expert Advise

Financing Options

Start Small, Build Credit, Scale Up

Best Financing Options for Micro-Enterprises

Who Provides These Loans in Singapore?

Your monthly payment

How to Apply for a Micro Business Loan

Pros & Cons of Micro Business Loans

PROS

CONS

How to find the Right Micro Loan (FAQs)

What's the difference between micro loan and regular SME loan?

Can sole proprietors get micro loans?

Will a micro loan help me get larger loans later?

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

Explore Other Financing Options