12 best startup business loans in Singapore (2026 guide)

Key Takeaways:

• Getting a startup business loan in Singapore is more achievable than most founders think. Government-backed schemes, banks, and alternative lenders all offer options for businesses at different stages.

• Eligibility varies significantly by lender: some accept businesses as young as six months old, while others require two to three years of operating history and a minimum annual turnover.

• Airwallex supports startups at every stage: from opening a dedicated business account to build your credit profile, to managing payments and expenses once your funding is in place.

Finding the right startup business loan in Singapore is one of the most important decisions you'll make as a founder. The options are more varied than most people expect, from government-backed schemes with risk-sharing support to bank term loans and fast-approval fintech lenders.

This guide covers 12 startup and SME loan options in Singapore, including government schemes, major banks, and alternative lenders.

For each, you'll find the loan amount, tenure, indicative rate, and eligibility requirements, so you can compare quickly and apply with confidence.

What is a startup business loan?

A startup business loan is a financing option for new and early-stage companies.

It provides capital to help businesses grow, cover operating costs, or fund an expansion, even when they may not yet have the financial track record to qualify for a standard business loan.

Compared to traditional business loans, startup loans typically have more flexible eligibility criteria and shorter minimum operating history requirements. This makes them more accessible to founders in the early stages of building their business.

Common uses include:

• Covering payroll and rent during slow revenue periods

• Purchasing inventory or equipment

• Investing in product development

• Bridging cash flow gaps while waiting on customer payments

8 types of startup business loans in Singapore

There is no single "startup loan" product in Singapore. Instead, founders draw from a range of loan types depending on their stage, funding need, and financial profile. Here's what's available.

1. SME working capital loans

Working capital loans cover short-term operational expenses: things like supplier payments, payroll, utilities, and marketing costs. They're designed for day-to-day needs rather than long-term investments.

Best for: Startups that are operational but experiencing cash flow gaps or short-term funding shortfalls.

2. Venture debt financing

Venture debt is a type of loan designed for high-growth startups that may not have sufficient cash flow or collateral for a traditional bank loan. It's often used alongside venture capital (VC) funding to extend runway without diluting equity.

Unlike equity financing, venture debt is a loan. With venture debt, founders retain ownership while still accessing growth capital.

Best for: VC-backed startups looking to extend runway between funding rounds without giving up additional equity.

3. Trade loans

Trade loans help businesses manage cash flow during importing, exporting, or purchasing goods from suppliers. They cover costs like inventory purchases, manufacturing, and shipping.

Best for: Startups involved in trading, manufacturing, or supply chain operations with regular purchase cycles.

4. Fixed-asset loans

Fixed-asset loans fund investments in equipment, machinery, or other productive assets. They help businesses acquire what they need to operate without depleting working capital.

Best for: Startups that need to purchase specialised equipment or machinery to fulfil orders or scale production.

5. Merchant cash advance

A merchant cash advance is not technically a loan; it's a financing arrangement based on your credit card or sales transactions. Repayment is made as a percentage of daily or weekly sales, which means repayments flex with your revenue.

Best for: Startups with variable or seasonal revenue that want repayments tied to actual sales performance.

6. Invoice financing

Invoice financing lets you unlock cash from unpaid invoices before your customers pay. A lender advances a portion of the invoice value, and you repay when the invoice is settled.

Best for: B2B startups with long payment cycles (30, 60, or 90 days) that need to access cash earlier.

7. Business line of credit

Also called revolving credit, a business line of credit gives you access to a set amount of capital you can draw from as needed. You only pay interest on what you use, and your limit resets as you repay.

Best for: Startups that need a standing financial buffer for unpredictable expenses rather than a lump-sum loan.

8. Government-assisted loans

The Singapore government, through Enterprise Singapore (EnterpriseSG), administers a range of loan schemes under the Enterprise Financing Scheme (EFS). These are offered through participating financial institutions (PFIs) and include risk-sharing between the government and the lender, making it easier for startups and SMEs to qualify.

EFS covers seven loan categories: working capital, fixed assets, venture debt, trade, project, mergers and acquisitions, and green loans. Full details are covered in the next section.

Best for: Singapore-registered startups and SMEs that meet local shareholding requirements and want access to government-backed financing with lower risk barriers.

Best startup business loans in Singapore (2026)

The right loan depends on three things: how long your business has been running, how much you need, and how fast you need it. Use the table below to compare your options at a glance, then read the full breakdown of each lender below.

This information is based on publicly available information accessed on 5 Oct 2026. Information reflects Airwallex's own research and has not been independently verified.

Government-backed loans

Enterprise Singapore administers the Enterprise Financing Scheme (EFS), which is a suite of government-backed loan programmes offered through participating financial institutions (PFIs) such as DBS, UOB, OCBC, and CIMB.

You apply through a bank, not directly with Enterprise Singapore. The key advantage: Enterprise Singapore shares the loan default risk with the bank, making it significantly easier for younger businesses to qualify.

EFS SME Working Capital Loan

The EFS SME Working Capital Loan is designed to help SMEs finance day-to-day operational cash flow needs, such as payroll, supplier payments, rent, and utilities. Applications are made through participating financial institutions and remain subject to the lender's credit assessment.

Enterprise Singapore provides a higher risk share for young enterprises, defined as businesses formed within the past five years with at least one employee and more than 50% equity owned by individuals.

Worth knowing:

• No physical collateral is specified under the scheme, but the participating financial institution may require security or personal guarantees as part of its credit assessment.

• Apply through a participating financial institution. The available PFIs vary by EFS product.

• Eligibility includes being registered and operating in Singapore, having at least 30% local equity held directly or indirectly by Singaporeans and/or Singapore PRs, and meeting the applicable group revenue or employment criteria.

EFS Venture Debt Loan

The EFS Venture Debt Loan is designed for high-growth and innovative enterprises that may not have significant assets to use as collateral for traditional bank lending.

The facility can be backed by warrants or redeemable convertible preference shares, giving lenders an equity-related upside alongside the debt.

It can be used for purposes such as business expansion, working capital, new projects, and mergers and acquisitions. As with other EFS products, applications are made through participating financial institutions and are subject to their credit assessment.

Worth knowing:

• Venture debt can help startups extend their runway without raising additional equity immediately.

• Terms and eligibility requirements vary by participating financial institution.

• Core EFS eligibility includes being registered and operating in Singapore, having at least 30% local equity held directly or indirectly by Singaporeans and/or Singapore PRs, and meeting the applicable group turnover requirements.

Bank loans

Singapore's major banks offer business loans for startups and SMEs, with application processes that are increasingly digital. Minimum operating history varies by lender, with some products available to businesses that have been operating for as little as six months.

Some bank loans can also be taken alongside government-assisted financing, subject to the lender's terms and the applicable scheme requirements.

OCBC Business First Loan

The OCBC Business First Loan is designed specifically for young businesses. It is available to businesses that have been operating for between six months and two years, making it one of the more accessible bank financing options for early-stage businesses.

Applications can be submitted online through MyInfo Business, and eligible businesses may receive instant approval.

Worth knowing:

• No collateral is required.

• It is a government-assisted loan under the EFS SME Working Capital Loan.

• Eligibility includes being registered and operating in Singapore, at least 30% local shareholding, at least one employee, and more than 50% equity owned by individuals.

UOB BizMoney

UOB BizMoney is an unsecured working capital loan for businesses that have been operating for more than 12 months. Applications can be made through the UOB SME app, with UOB stating that it aims to respond within one business day.

Worth knowing:

• No collateral is required.

• Available to sole proprietorships, partnerships and private limited companies.

• Eligibility includes being registered and operating in Singapore for at least one year and having at least 30% local shareholding.

• UOB also offers an SME Working Capital Loan under EFS, which can be combined with BizMoney under its Business Loan package, subject to the applicable terms.

DBS Business Loan

The DBS Business Loan is available to Singapore-registered businesses across different stages of growth. It can be used for working capital and expansion, and applications can be submitted online.

DBS also allows its Business Loan to be held alongside government-assisted financing such as EFS loans.

Worth knowing:

• No minimum operating history is stated for the base Business Loan.

• DBS says most businesses can apply without submitting financial documents when applying through ACRA or MyInfo Business, although additional information may be requested.

• New DBS borrowers may not need to submit documents for smaller loan applications.

• The Business Loan is separate from DBS's EFS SME Working Capital Loan, which has its own eligibility requirements.

Maybank Business Term Loan

Maybank's Business Term Loan provides unsecured working capital financing for established SMEs. It uses a conventional term-loan structure, with the loan repaid through fixed instalments over the agreed term.

Worth knowing:

• No collateral is required.

• Eligibility includes at least 30% local shareholding and a minimum of two years of operating history.

• Maybank also offers an online SME financing route for eligible businesses, with separate eligibility and application conditions.

CIMB BizGrow

CIMB BizGrow is a collateral-free working capital loan designed to cover short-term operational expenses such as bills, rent and payroll. It is a commercial financing product rather than a government-assisted EFS facility.

Worth knowing:

• No collateral is required.

• Applications can be made by contacting CIMB's business banking team or requesting a callback.

• CIMB offers BizAssist separately for businesses seeking government-assisted EFS working capital financing.

CIMB BizAssist (EFS Working Capital Loan)

CIMB BizAssist is CIMB's offering under the EFS SME Working Capital Loan. It provides unsecured working capital financing with Enterprise Singapore sharing part of the default risk.

Worth knowing:

• Enterprise Singapore's risk-sharing support applies to the facility.

• Applications are made through CIMB's business banking team.

• Eligibility includes being registered and physically present in Singapore, having at least 30% local equity held directly or indirectly by Singaporeans and/or Singapore PRs, and meeting the applicable EFS SME criteria.

Alternative and fintech lenders

Alternative and digital lenders generally offer faster application and approval processes than traditional banks, and some have financing options for businesses with limited operating history.

They can be useful for early-stage startups or businesses that do not yet meet the eligibility requirements of some bank loans.

The trade-off is that loan amounts, repayment terms and borrowing costs vary considerably by lender and product, so compare the total cost and repayment requirements before applying.

ANEXT Bank Business Loan

ANEXT Bank is a digital bank in Singapore focused on SME banking and financing. Its Business Loan offering includes fixed-rate term loans with monthly instalments, as well as flexible credit facilities and secured financing for different business needs.

Worth knowing:

• Fully digital application, with no branch visits required.

• ANEXT also offers CreditNow, a revolving credit facility for selected existing ANEXT customers, as well as secured business loans for businesses that meet the eligibility requirements.

• Pay Monthly loans are available to Singapore-incorporated businesses, including sole proprietorships, subject to ANEXT's credit assessment and approval.

Funding Societies Start-Up Financing

Funding Societies Start-Up Financing is designed for businesses with limited operating history. It is open to Singapore-registered Pte Ltd and LLP businesses, including relatively new companies, and uses a digital application process with limited documentation.

Worth knowing:

• 0% interest applies when repayments are made on time and according to the agreed schedule.

• Eligibility includes at least 30% local shareholding and a personal guarantee from at least one director who is a Singapore Citizen or PR.

• The standard Start-Up Financing product is distinct from Start-Up Financing PRO, which has different loan amounts, pricing and eligibility requirements.

Funding Societies Micro Loans

Funding Societies Micro Loans are designed for SMEs that need short-term working capital. The product offers relatively fast application, approval and disbursement, making it suitable for businesses with urgent cash-flow needs.

Worth knowing:

• Funding Societies states that applications can receive a decision within hours and funds can be disbursed within 24 hours of approval.

• Eligibility includes a minimum six-month operating history, at least 30% local shareholding, and a personal guarantee from at least one Singapore Citizen or PR director.

• Available to Singapore-registered Pte Ltd and LLP businesses.

Funding Societies Business Term Loans

Funding Societies Business Term Loans are unsecured financing products for businesses seeking working capital or funding for business growth. Funding Societies currently offers both Business Term Loan and Business Term Loan PRO, with different repayment periods.

Worth knowing:

• Unsecured, so no collateral is required.

• Business Term Loan PRO offers repayment periods of 12–36 months, while the standard Business Term Loan has a shorter repayment period.

• Only Singapore-registered Pte Ltd and LLP companies are eligible for Business Term Loans.

Who can apply for a startup business loan in Singapore?

Eligibility requirements vary by lender and loan type, but most share a core set of criteria.

Meeting these doesn't guarantee approval, but they're the minimum conditions you need to satisfy before applying.

General eligibility criteria

This information is based on publicly available information accessed on 5 Oct 2026. Information reflects Airwallex's own research and has not been independently verified.

A note on operating history

This is the criterion that trips up most early-stage founders. Here's how the lenders in this guide compare:

• Under 6 months: Funding Societies Start-Up Financing

• From 6 months: OCBC Business First Loan, Funding Societies Micro Loans and Business Term Loans

• From 1 year: UOB BizMoney

• From 2 years: Maybank Business Term Loan

• No minimum stated: DBS Business Loan, EFS loans via participating financial institutions

How to apply for a startup business loan in Singapore

Step 1: Assess your financial position

Before approaching any lender, get a clear picture of your finances. Know your monthly revenue, outstanding liabilities, and cash flow cycle. Lenders will ask, and a founder who knows their numbers creates a better impression.

If your personal credit score is low, work on improving it before applying. For brand-new businesses, lenders often assess the director's personal credit history in the absence of a business credit record.

Step 2: Draw up a business plan

A solid business plan signals to lenders that you understand your market, your cost base, and your path to profitability. Include your current activities, revenue projections, and a clear explanation of how you'll use the loan.

Address these questions directly in your plan:

• What is the loan for, specifically?

• How will it generate revenue or reduce costs?

• What is your repayment strategy if revenue is delayed?

Step 3: Build your business credit profile

A strong business credit profile improves your chances of approval and helps you secure better terms. Steps you can take:

• Open a dedicated business bank account and keep personal and business finances separate

• Pay suppliers and any existing credit obligations on time

• Avoid multiple hard credit inquiries within a short period

• Monitor your credit report regularly

If you’re looking to open a business account, try Airwallex. Our Business Account has no minimum fees, is free to open (on the Explore plan), and can be set up fully online. 

Step 4: Choose the right loan type for your needs

Match the loan to the purpose. Using a short-term working capital loan to fund a long-term asset purchase will strain your cash flow, because the repayment period is shorter than the asset's productive life. Equally, taking a large term loan for a short-term gap is unnecessarily expensive.

Ask yourself:

• Is this a short-term need (under 12 months) or a long-term investment?

• Do I need a lump sum or ongoing access to capital?

• Can I comfortably service the monthly repayments at current revenue?

Step 5: Shortlist your lenders

Based on your operating history, loan amount, and timeline, narrow down to two or three lenders. Check whether you meet the minimum eligibility criteria before applying — unnecessary applications leave a trace on your credit file.

Step 6: Prepare your documents

Most lenders in Singapore support MyInfo Business via SingPass, which retrieves your company's registered details automatically and speeds up the process significantly. You'll typically also need:

• Latest two years of financial statements (if applicable)

• Latest three to six months of bank statements

• NRIC or passport copies of directors and guarantors

• Income Tax Notice of Assessment for guarantors

• Company constitutional documents (for private limited companies)

Exact requirements vary by lender and loan amount. Check each lender's documentation list before you apply.

Step 7: Submit your application and await approval

Application timelines vary. Some lenders (Funding Societies, ANEXT) are fully digital and respond within one to two working days. Banks typically take three to five working days. Government-assisted loans through EFS may take slightly longer depending on the participating financial institution.

If your application is approved, you'll receive a letter of offer. Review the terms carefully before accepting.

What to consider before you apply

Beyond eligibility, here are the key factors that affect which loan is right for your business.

Know your numbers

Be ready to explain your revenue streams, monthly cost base, and how the loan will be used. Lenders will ask detailed questions if your business is young. If you experience seasonal fluctuations, be prepared to explain how you manage them.

Match the loan to the expenditure

Short-term working capital loans carry higher interest rates than long-term loans. Using one to fund a five-year investment will cost significantly more in interest over time — and create repayment pressure your cash flow may not support.

Factor in all costs

The headline interest rate is not the full cost of borrowing. Add facility fees, annual fees, and early repayment charges to get a complete picture. For government-assisted loans, some of these fees are capped.

How Airwallex supports your startup

In Step 3 above, we recommended opening a dedicated business bank account as one of the first things you do to build your business credit profile. That separation between personal and business finances matters to lenders, and the sooner you establish it, the better.

An Airwallex Business Account is a straightforward way to do this. The online application takes around 15 minutes to complete, and there's no setup fee or minimum deposit.

Unlike a traditional bank, Airwallex is fully digital, so you can start transacting sooner rather than later.

Frequently asked questions (FAQs)

How long does a startup business loan application take in Singapore?

It depends on the lender. Digital and alternative lenders like Funding Societies and ANEXT Bank typically respond within one to two working days⁹. Banks generally take three to five working days, and government-assisted EFS loans may take slightly longer depending on the participating financial institution. Using MyInfo Business via SingPass speeds up the process significantly.

Can I get a startup business loan if my business is less than six months old?

Yes, but your options are more limited. Funding Societies Start-Up Financing explicitly accepts businesses with less than six months of operating history, including newly incorporated companies, subject to its eligibility requirements. Most other lenders in this guide either require a minimum operating history or do not state that they accept newly incorporated businesses.

Is it possible to get a startup business loan in Singapore without collateral?

Yes. Most startup and SME loans in Singapore are unsecured, meaning no physical collateral is required. However, lenders almost always require a personal guarantee from at least one director, which means you are personally liable if the business defaults. Unsecured loans may also carry higher interest rates than secured products, as the lender takes on more risk.

What is the difference between a government-assisted loan and a regular bank loan?

A government-assisted loan (such as those under the Enterprise Financing Scheme) is a bank loan where Enterprise Singapore co-shares the default risk with the lender. This risk-sharing makes banks more willing to approve applications from younger businesses or those with limited financial history, and can result in more favourable terms. A regular bank loan has no government backing, so the bank bears the full risk and typically applies stricter eligibility criteria as a result.

How much can a startup borrow in Singapore?

It depends on the lender, your operating history, and your financial profile. Loan amounts in this guide range from small short-term facilities for newly incorporated businesses to larger business loans for more established companies. The amount you're ultimately offered will depend on the lender's assessment of factors such as your credit profile, cash flow, business performance and ability to repay.

What can I do if my startup business loan application is rejected?

First, ask the lender for specific feedback on why your application was declined; this tells you exactly what to address. Review your application for any missing documents or errors. Work on improving your business credit score by separating personal and business finances, paying obligations on time, and avoiding multiple hard credit inquiries. If bank eligibility is the issue, explore alternative lenders with lower barriers to entry. You can also consider other funding sources such as government grants, invoice financing, or a business line of credit while you build your profile.

Sources:

1.  https://www.enterprisesg.gov.sg/financial-support/enterprise-financing-scheme

2.  https://www.ocbc.com/business-banking/smes/loans/business-first-loan

3.  https://www.uob.com.sg/business/finance/uob-bizmoney.page

4.  https://www.dbs.com.sg/sme/financing/working-capital/business-term-loan

5. https://www.maybank2u.com.sg/en/business/local-enterprise/sme/grow-business/working-capital/index.page

6. https://www.cimb.com.sg/en/business/solutions-products/loans-financing/commercial-loans-financing/cimb-bizgrow.html

7. https://www.cimb.com.sg/en/business/solutions-products/loans-financing/commercial-loans-financing/cimb-bizassist.html

8.  https://www.anext.com.sg/bank/business-loan

9.  https://fundingsocieties.com/startupfinancing

10.  https://fundingsocieties.com/sme-loans