Several banks and other financial institutions in Singapore provide loans to businesses. The range of borrowing options, interest rates, and prerequisites is wide. Online calculators can compare loan interest rates and availability for startups, SMEs, and MNCs. Some of the loan options include: Unsecured Term Loan The most common kind of capital borrowing is an unsecured business term loan that can range anywhere from 50,000 to 300,000 dollars for each bank. In most cases, the repayment of this type of loan takes the form of monthly payments spread out over three to five years. SME Working Capital Loan It is one of the financing schemes under Enterprise Financing Scheme (EFS). Since its introduction to the Singaporean public in June 2016, it has undergone many revisions of development under the scope of the 2020 Budget. SME in Singapore can acquire finance of up to $500,000 per borrower with maximum repayment period up to 5 years. SME Micro Loan Startups and small businesses that need micro-financing of up to $100,000 can turn to microloans for small and medium-sized enterprises (SMEs). To qualify, a company must have fewer than ten employees and yearly sales of less than $100,000. Trade Financing This is accomplished by providing access to an ongoing line of credit that can be used to pay for purchases from vendors. Many international suppliers offer Letters of Credit as a payment option. Trust Receipts can be issued with credit periods ranging from ninety to 120 days. Business Property Financing Mortgage loans are one method of acquiring capital to invest in commercial, industrial or residential property. SMEs can also pledge its property to secure bank loans. The interest rates on these loans are usually the lowest compared to others because of the security provided. Equipment Financing Equipment Financing allows you to invest in equipment and machinery you need without initial heavy capital, ease your mind by freeing your cashflow for operational overheads. Lease or hire purchase agreements with repayment up to 5 years tenor are common for this type of borrowing. Receivables / Factoring Financing This type of financing involves a cash advance of 80% to 90% of the bills still to be paid. In particular, it benefits SMEs that conduct business with reputable organizations that offer extended payment terms on credit.