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SME Micro Loan Programme (MLP)

Financing Schemes

Loans of up to $100,000 for local SMEs with 10 or less employees. Loan quantum has increased from $50K to $100K.

The company may use the funds for for daily operations or for automating and upgrading factory and equipment. The loan quantum is up to a maximum of S$100,000. Interest rate applies on all loan, subject to a minimum of 5.75% for loan tenure of 4 years and below. All interest rates will be finalized by the bank upon loan approval and advised by the respective banks accordingly.


You may apply for a Micro Loan if your company meets these criteria :

  • registered or incorporated in Singapore
  • employ 10 or less employees and annual sales not exceeding S$1 million
  • at least 30% of your shareholding is local
  • your company’s group fixed assets are below $15 million
  • your company’s group has no more than 200 employees (for companies in the services sector)
  • company’s Group Annual Sales of not more than S$100 million OR company’s Group Employment Size of not more than 200. Annual sales turnover and employment size will be computed on a group basis. (i.e All levels up for corporate shareholders holding >50% of total shareholding of the applicant company and any subsequent corporate parents, and subsidiaries all levels down)

Before you apply

  1. Ensure that your business qualifies for the loan.
  2. Consult your banker or one of the Micro Loan Participating Financial Institutions. They will be able to give you professional advice and also assist your application.
  3. Prepare the supporting documents if your bank requires them :
    • a copy of your business profile from ACRA
    • audited accounts or certified financial statements
    • bank statements
    • personal income tax assessment of owners and directors
  4. Meet with your banker or financial institution. Bring the supporting documents for the meeting.

Applying for Micro Loan

  1. Obtain an Application Form from your banker or financial institution. Find out from the lender what supporting documents you need to attach.
  2. Submit the Application Form with the supporting documents.
  3. Wait 3 weeks for the bank or financial institution to reply. Processing of applications may be longer depending on the size of the loan and other factors.

Upon successful application

  1. Receive funds from the bank or financial institution.
  2. Keep proper records of repayments. Repayments start 1 month after disbursement of the loan.
  3. Ensure you make repayments on time.

Participating Financial Institutions

Banks Contact Numbers
DBS Bank Limited 1800 222 2200
The Hongkong and Shanghai Banking Corporation Limited 6216 9000
Indian Bank 6309 4379
Maybank 6550 7888
Oversea-Chinese Banking Corporation Limited 6538 1111
RHB Bank 6323 2001
Standard Chartered Bank 1800 743 3000
United Overseas Bank Limited 1800 2266 121
Finance Companies Contact Numbers
Hong Leong Finance Limited 6415 9640
Sing Investments & Finance Limited 6305 0285
Singapura Finance Limited 6880 0633
Other Financial Institutions Contact Numbers
IFS Capital Limited 6270 7711
ETHOZ Capital Ltd 6654 7799
ORIX Leasing Singapore Ltd 6339 3622
^ Please note that Micro Loan may be subject to banks’ credit approval

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