The Business First Loan is a collateral-freeA collateral-free loan means you do not need to pledge any assets as repayment for your loan, but there must be a guarantor to support the loan in the event of non-repayment. loan offered under SPRING Singapore’s Micro Loan Programme. It is designed for new businesses to get funds in the quickest and most hassle-free way, with a flexible repayment period of up to 4 years.
Read on to find out more.
Unlike most business loans for startups, you do not need to submit business proposals nor financial statements. Our Business Development Managers will also do the legwork by meeting you at your convenience. This means that you can focus less time on paperwork and more time on your business.
We take only 1 business day to process and respond to you on your loan eligibility once we have all the necessary documentation needed. Our Business Development Manager will assist you at every step of the process.
Contact us via any of the three ways:
You will be asked to prepare and submit these documents via Fax or Email:
Our Business Development Manager will call you to inform you of the details of the loan you are eligible for. If you wish to proceed with the loan, your Business Development Manager will arrange to meet you to finalise the application.
Congratulations! Your loan has been approved.
You will receive the funds between 3 to 5 business days.
Your confidence is the accolade that means the most to us. And that is why we strive to make banking simple, fast and convenient. As Asia’s Best Bank For SME, we’re committed to help your business grow locally and beyond.
Terms and conditions apply.
*OCBC bank requires guarantor(s) to support the loan.