Business First Loan - SME Micro Loan | OCBC Business Banking SG

Business first loan

4 steps to your business loan Simple. Fast. Convenient.

Why you will love this

Easy to qualify, your business just needs to be 6 months old

No paperwork needed

Borrow up to $100,000 over 4 years, no collateral needed*

Who can apply

Business is registered and operating in Singapore between 6 months and 2 years

At least 30% owned by Singaporean or Singapore PR

No more than 10 employees or annual turnover not exceeding S$1 million

Government-assisted loan. Easy application via MyInfo.

Features and benefits

Lower cost

Attractive interest rates with repayment over 4 years.

Attractive interest rates with repayment over 4 years.

Secure and simple

Auto-fill your details via MyInfo (SingPass), with no paperwork needed.

Auto-fill your details via MyInfo (SingPass), with no paperwork needed.

Fast approval

Get your loan status in just minutes.

Get your loan status in just minutes.

No early repayment fee

Pay off your loan anytime with no lock-in period.

Pay off your loan anytime with no lock-in period.

LOAN APPROVAL IN MINUTES

Be minutes away from fulfilling your business ambitions with OCBC Business Loan. Apply using MyInfo and get to success the simple, fast, and convenient way.

Before you apply

Eligibility requirements

Business registration
Business is registered and operating in Singapore between 6 months and 2 years
Business ownership
At least 30% owned by Singaporean or Singapore PR
Employees and turnover
No more than 10 employees or annual turnover not exceeding S$1 million
Guarantor
At least 1 guarantor must be Singaporean or Singapore PR, aged between 21 and 62 Guarantors are required to have a minimum income of S$30,000 per annum

Facility fees

Fees
2% on the quantum of the loan

Terms & conditions

Guarantor
*OCBC Bank requires guarantor(s) to support the loan

Ready to apply?

Get your Business First Loan today with us

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FAQS
Common questions
What are my monthly instalments?

You can use our Business Loan Calculator to view your indicative monthly instalments based on the principal amount, tenor and effective interest rate.

How long does the application process take?
The loan application process takes less than 5 minutes when you connect to MyInfo (SingPass) or MyInfo Business (CorpPass). The loan amount approval can be given in 1 business day.
What documents are needed?
If your application is done via MyInfo (SingPass) or MyInfo Business (CorpPass), no documents are required. If you are proceeding with a manual document upload, you will need your NRIC, letter of consent and Notice of Assessment.
Which financing products are suitable for my business?

Check out our loan articles for more information, or explore other financing products.

What browsers are supported?
Our online loan application works best on Internet Explorer Version 11 or later, Firefox latest 10 versions, Safari version 9 or later and Google Chrome latest 10 versions. If you are having further difficulty, contact us at 1800-BIZLOAN (1800-2495626).
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