The SME Working Capital Loan (WCL) is a government assisted financing loan under the Enterprise Financing Scheme (EFS-WCL). The WCL is meant to help SMEs finance operational cashflow needs. SMEs can access up to $500K from October 2022 to March 2023.

Sure, you can do that. However, you may risk getting rejected by banks if you apply directly without knowing if you pass the bank’s criteria. Once your application is rejected, your company will leave a “black-mark” in the bank’s records and it’ll be even tougher to apply in the future. Not to mention we save you the effort of submitting loan applications through 20 participating banks and financial institutions as we know every SME is different and we’ll be able to match your company’s profile with the right bank / financial institution.

Business owner’s personal credit profile The bank you go with Limits to financing with existing bankers The way you answer the credit questions Weak cash flow and drop of sales due to Covid-19 Financial documents and figures that you declare to banker Experience level of the banker whom you deal with Poor credit proposal / paperwork Each financial institution’s credit assessment and risk appetite is very different (e.g. you may get rejected from UOB but secure a $100,000 loan with DBS), this is because the financial documents and risk appetite for these 2 banks are very different. Our team is formed up by ex-bankers with >30 years of combined banking experience, we know exactly what the banks are looking for before submitting to our strong network of >40 lenders. Before submitting the loan application, we’ll be able to help prepare a good proposal writeup based on your company’s financial profiles before submitting to the bankers for the loan application. This way, u’ll be able to achieve a better approval rate and higher loan quantum.

Yes, companies that had previously taken a WCL loan, can still apply for a new loan with another lender or top-up with existing one, that is provided its total exposure to the WCL is capped at the maximum amount of S$ 500,000 per borrower.

Standard processing time is within 2-4 weeks upon receiving full documents. On case by case and if your case is urgent, we’ll try to expedite for you and shorten the turnaround time for you.

Loan amount assessment is entirely free. After that, if you would like to engage our loan application service, we would do a comparison to show you which bank offers you the best package in terms of interest rate and processing fees based on your company’s profile and financial documents.

Absolutely, Business loan applications can be tedious when you do it yourself. If you have someone from our team helping you, you can focus on your business operations while having a peace of mind that we are settling all your paperwork and getting the best deal for you. Besides, the credit questions poised by the respective banks can be very daunting and u do not want to risk answering the wrong answers which may affect your loan results.