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 designed for new and early-stage companies that need capital to grow, cover operational costs, or fund an expansion — but 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

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 — so 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.

The information in this table has been reviewed to be accurate as of 31 March 2026.

Government-backed loans

Enterprise Singapore administers the Enterprise Financing Scheme (EFS) — 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 the most widely used government-backed loan for startups and SMEs in Singapore. It covers everyday operational cash flow needs: payroll, supplier payments, rent, and utilities.

You can borrow up to S$500,000¹ through a participating financial institution, repayable over up to five years¹. Enterprise Singapore co-shares the default risk at 50% for established SMEs, rising to 70% for young enterprises — defined as businesses formed within the past five years with at least one employee and more than 50% individual ownership¹.

Worth knowing:

• No physical collateral required, but personal guarantees from directors are typically expected by the bank

• Apply through a participating financial institution — DBS, UOB, OCBC, CIMB, and Maybank all participate

• Eligibility: registered and operating in Singapore; at least 30% local shareholding held directly or indirectly by Singaporean(s) or Singapore PR(s); group revenue not exceeding S$100 million or group employment not exceeding 200¹

EFS Venture Debt Loan

The EFS Venture Debt Loan is designed for innovative, high-growth startups, particularly those that are VC-backed or have strong growth metrics but limited collateral or cash flow. Unlike a standard term loan, this product can include warrants or redeemable convertible preference shares, giving lenders a small equity upside in exchange for more flexible terms¹.

Loan amounts and rates vary by participating financial institution. It's a niche product: not every bank offers it, and approval criteria are stricter than the SME Working Capital Loan. If your startup has received institutional backing or is in a high-growth phase, ask your bank whether you qualify.

Worth knowing:

• Often used to extend runway between equity funding rounds without further diluting founder ownership

• Terms and conditions vary significantly by PFI

• Eligibility: same core EFS criteria — 30% local shareholding; registered and operating in Singapore; group turnover not exceeding S$500 million¹

Bank loans

Singapore's major banks offer unsecured term loans for startups and SMEs, with application processes that are increasingly digital and fast. Most require at least one year of operating history, though the OCBC Business First Loan is a notable exception.

Interest rates sit roughly between 7% and 11% p.a. across products, and several loans can be stacked with government EFS schemes for a higher combined facility.

OCBC Business First Loan

The OCBC Business First Loan is the most startup-accessible bank loan in Singapore. It's built specifically for businesses between six months and two years old: the window when most banks won't lend.

You can borrow up to S$100,000², with an indicative rate of 8–11% p.a.² and a repayment period of up to five years². The application takes under five minutes via MyInfo Business on SingPass, and OCBC typically responds within three business days.

Worth knowing:

• Facility fee: 2% of the approved loan amount (currently 50% off²)

• Government-assisted under the EFS Working Capital Loan

• Eligibility: Singapore-registered business; operating for 6–24 months; at least 30% local shareholding; at least one employee; more than 50% equity owned by individuals²

UOB BizMoney

UOB BizMoney is a straightforward unsecured working capital loan for businesses with at least one year of operations. It's accessible via the UOB SME app and comes with a one-business-day response commitment.

You can borrow up to S$350,000³ at 10.88% p.a.³, repayable over up to five years³. UOB BizMoney can also be bundled with the EFS SME Working Capital Loan as part of the UOB Business Loan package, bringing the combined facility up to S$800,000³.

Worth knowing:

• Annual fee: S$500³; facility fee: 2% of the approved loan amount³

• No collateral required; personal guarantee may be required³

• Eligibility: sole proprietor, partnership, or private limited company; registered and operating in Singapore for at least one year; at least 30% local shareholding³

DBS Business Loan

The DBS Business Loan has one of the lowest barriers to entry among bank loans — it's available to all Singapore-registered businesses with no minimum operating history stated for the base product. It can also be stacked on top of EFS loans for more capital. New borrowers applying for up to S$50,000 don't need to submit any financial documents⁴.

You can borrow up to S$500,000⁴ from 7% p.a.⁴, repayable over up to five years⁴.

Worth knowing:

• No documents required for loans up to S$50,000 for new DBS borrowers⁴

• Prepayment fee of 2.5% on principal prepaid within the first two years⁴

• Eligibility: business registered and operating in Singapore; open to all business types; can be stacked with EFS loans⁴

Maybank Business Term Loan

Maybank's Business Term Loan offers collateral-free working capital financing for more established SMEs. It's a clean product with a familiar structure — a lump sum repaid over fixed monthly instalments.

You can borrow up to S$500,000⁵, repayable over up to five years⁵. Interest rates are not published; contact Maybank's Business Banking team for indicative pricing.

Worth knowing:

• No collateral required⁵

• Apply by contacting Maybank's Business Banking hotline at 1800-777 0022 or requesting a callback online

• Eligibility: at least 30% local shareholding; minimum two years of operating history⁵

CIMB BizGrow

CIMB BizGrow is a collateral-free working capital loan aimed at SMEs covering short-term operational expenses. It's a non-government-assisted product, which means the eligibility criteria are set entirely by CIMB rather than tied to Enterprise Singapore requirements.

You can borrow up to S$400,000⁶ at up to 9.88% p.a.⁶, repayable over up to five years⁶.

Worth knowing:

• No collateral required⁶

• Apply via CIMB's business banking email or by requesting a callback

• If your business meets EFS eligibility criteria, consider CIMB BizAssist instead — it offers a higher loan cap and government risk-sharing

CIMB BizAssist (EFS Working Capital Loan)

CIMB BizAssist is CIMB's Enterprise Financing Scheme SME Working Capital Loan offering. It combines CIMB's lending platform with Enterprise Singapore's risk-sharing support, giving qualifying businesses access to a higher loan amount and more favourable terms than CIMB BizGrow.

You can borrow up to S$500,000⁷ per borrower, with a maximum of S$5 million per borrower group⁷, repayable over up to five years⁷. No collateral is required⁷.

Worth knowing:

• Government risk-sharing applies — Enterprise Singapore co-shares the default risk

• Apply via CIMB's business banking team by email or callback

• Eligibility: registered and operating in Singapore; at least 30% local shareholding; group revenue not exceeding S$100 million or group employment not exceeding 200⁷

Alternative and fintech lenders

Alternative and digital lenders generally offer faster approvals and lower barriers to entry than traditional banks. They're particularly useful for very early-stage startups or businesses that don't yet meet standard bank eligibility criteria.

The trade-off is typically smaller loan caps or, in some cases, higher borrowing costs — so compare the total cost carefully.

ANEXT Bank Business Loan

ANEXT Bank is a digital bank in Singapore focused specifically on SME financing. Their Business Loan (Pay Monthly) product offers fixed-rate term loans with monthly instalments: a familiar bank-style structure with a fully digital, faster application process.

You can borrow from S$5,000 to S$500,000⁸, repayable over up to five years⁸. Interest rates are based on your business profile — contact ANEXT directly for indicative pricing.

Worth knowing:

• Fully digital application — no branch visits required

• ANEXT also offers a Pay Per Use credit line for shorter-term needs (up to six months)⁸ and secured loan options for larger capital requirements⁸

• Eligibility: Singapore-registered business; contact ANEXT for full criteria

Funding Societies Start-Up Financing

Funding Societies Start-Up Financing is the most accessible loan product for very early-stage startups in this list. It's open to businesses of all ages, including newly incorporated companies, and requires minimal documentation.

Two options are available:

• The standard product offers a S$10,000 loan with zero origination fees and fixed repayments of S$2,000 per month⁹.

• The PRO option offers S$15,000 with a one-time S$500 origination fee and fixed repayments of S$3,000 per month⁹.

Both have a five-month tenor and 0% interest on timely repayments⁹.

Worth knowing:

• Approval and disbursement within two working days⁹

• Only available to first-time Funding Societies borrowers⁹

• Eligibility: Singapore-registered Pte Ltd or LLP; at least 30% local shareholding; personal guarantee required from at least one director who is a Singapore Citizen or PR⁹

Funding Societies Micro Loans

Funding Societies Micro Loans are for businesses that need more than the Start-Up Financing limit but aren't ready for a full term loan. The standout feature is speed — disbursement happens within 24 hours of approval¹⁰.

You can borrow up to S$150,000¹⁰, making this a practical option for urgent working capital needs or businesses between funding rounds.

Worth knowing:

• One of the fastest disbursement timelines available in Singapore¹⁰

• Suited for urgent, everyday business needs where timing matters

• Contact Funding Societies for current rates and eligibility criteria

Funding Societies Business Term Loans

Funding Societies Business Term Loans are unsecured loans for businesses that need larger working capital. With a maximum loan of S$1,000,000¹⁰ and a repayment period of up to 36 months¹⁰, they offer more runway than short-term products while remaining collateral-free¹⁰.

Worth knowing:

• One of the highest loan caps among alternative lenders in Singapore¹⁰

• Unsecured — no collateral required¹⁰

• Contact Funding Societies for current rates and full eligibility criteria

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 — lenders will also assess your credit profile, cash flow, and business plan — but they're the minimum conditions you need to satisfy before applying.

General eligibility criteria

The information in this table has been reviewed to be accurate as of 31 March 2026.

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:

• From day one: Funding Societies Start-Up Financing⁹

• From 6 months: OCBC Business First Loan²

• From 1 year: UOB BizMoney³, Funding Societies Micro Loans and Term Loans¹⁰

• From 2 years: Maybank Business Term Loan⁵

• No minimum stated: DBS Business Loan⁴, ANEXT Bank⁸, EFS loans via PFIs¹

If you're under six months old, Funding Societies Start-Up Financing is currently the only verified option in this guide that accepts newly incorporated businesses.

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

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 — including the effective interest rate, fees, repayment schedule, and any early repayment penalties — 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 — before and after funding

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 — where account opening can take up to 15 business days — Airwallex is fully digital, so you can start transacting in days, not weeks.

Once your loan is in place

Once you’ve gotten your business loan, use Airwallex to put that capital to work more efficiently. With your Airwallex Business Account, you get all of the following:

• FX & Transfers: pay international suppliers at competitive rates that save you up to 80% on FX fees 

• Corporate Cards + Expense Management — real-time visibility over team spending, automated reimbursements, and no more chasing receipts

Global Accounts — collect funds like a local in 70 countries without needing a local entity in each market.

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 limited. Funding Societies Start-Up Financing is currently the only verified option in Singapore that accepts newly incorporated businesses, including those incorporated on day one⁹. Most banks and government-assisted loans require a minimum of six months to two years of operating history before they will consider an application.

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 lender¹. 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. At the lower end, Funding Societies Start-Up Financing offers S$10,000 to S$15,000 for newly incorporated businesses⁹. Government-assisted EFS SME Working Capital Loans go up to S$500,000¹. Funding Societies Business Term Loans go up to S$1,000,000¹⁰. Lenders will assess your credit profile, cash flow, and business plan before determining the actual amount they're willing to offer.

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

This publication does not constitute legal, tax, or professional advice from Airwallex, nor does it substitute seeking such advice, and makes no express or implied representations / warranties / guarantees regarding content accuracy, completeness, or currency. If you would like to request an update, feel free to contact us at [[email protected]]. Airwallex (Singapore) Pte. Ltd. (201626561Z) is licensed as a Major Payment Institution and regulated by the Monetary Authority of Singapore.