Micro Loan Programme


What is it?

  • The Micro Loan Programme is a government initiative to provide funds for businesses looking to raise working capital.
  • Loans of up to $100,000 for local SMEs with 10 or less employees.

How it benefits you?

  • Provides low cost access to working capital for running your daily operations.
  • Creates a source of funds for automating and upgrading factory and equipment.

Key Facts about the Micro Loan Programme

  • Maximum Loan Quantum of $100,000
  • A Minimum interest rate of 5.50%p.a. for loan tenure of 4 years and below.
  • Fixed Flat Interest Rate works out to be 3.0447%p.a.
  • Approvals are subject to participating lender institutions’ assessments of risks involved.

Eligibility Criteria

You may apply for a Micro Loan if your company meets the following qualifying criteria:
  • Your business is registered or incorporated in Singapore.
  • Your company has 10 or less employees OR has annual sales not exceeding S$1 million.
  • At least 30% local shareholding.
  • If your company is part of a group, then the qualifying criteria will be assessed on a group basis.  The group should have an annual turnover of not more than S$100 million OR number of employees not more than 200.

How to apply?

First, consult us for professional advice to ensure that your business qualifies for the loan. We will assess your business financials and to take you through the entire application process from review to application to approval to disbursement of funds.  If it turns out that your business does not qualify for the MLP, we will propose other suitable funding options.

If all eligibility criteria are satisfied, the following documents are required:

  • Copy of your ACRA Business Profile
  • Audited accounts or certified financial statements for the past 2 years
  • Bank statements for past 6 months
  • Personal income tax assessment of owners and directors for the past 2 years

Application Process

  • Prepare all relevant application forms and supporting documents.
  • Submit the Application to the chosen bank or lending institution.
  • Processing period takes about 3 weeks.
  • Processing of applications may be longer depending on the size of the loan and other factors.
  • Upon approval, receive funds from the bank or financial institution.
  • Loan Repayments usually start 1 month after disbursement of the loan.
  • Make sure to keep proper records of loan repayments.
  • Loan repayments are made in the form of monthly GIRO deductions from your loan current account.
  • Ensure you maintain sufficient funds in this account.

Get Started Now!

Contact our consultants directly

Your Name (required)

Your Email (required)

Your Company Name (required)

I am interested in:
Micro Loan ProgramTerm LoansPICOthers
Your Message

Help us avoid spam. Type the characters shown below