Cash is oxygen for any business. Whether you need to buy inventory, renovate your office, or just survive a slow month, running out of money is not an option. But walking into a bank can feel like an interrogation.
You don’t want to drown in paperwork or wait three months just to get a “No.” You need financing that is fast, fair, and confirm good. In Singapore, the landscape has changed. It isn’t just about the big banks anymore; digital lenders and fintechs are offering money faster than ever.
Here are the 10 best SME loans in Singapore.
1. OCBC Business First Loan
OCBC is widely considered the most startup-friendly bank in Singapore. While most banks require you to be in operation for years, the OCBC Business First Loan is designed for younger companies. It allows you to borrow up to $100,000 without needing to pledge any collateral.
Best for: Young startups (6 months to 2 years old) looking for their first injection of capital.
2. DBS Digital Business Loan
DBS is the tech leader in local banking, and their loan application process proves it. Their “Quick Finance” initiative utilizes government data (via MyInfo Business) to auto-fill your application. You can often get an approval-in-principle within minutes, not days.
Best for: Speed. If you need working capital urgently and are already a DBS user, this is the fastest route.
3. UOB BizMoney
UOB is a powerhouse for SMEs. BizMoney is their flagship unsecured term loan product. It offers a very high loan quantum (up to $350,000), which is higher than many competitors’ standard offerings. It is a great option if you are planning a major expansion or renovation.
Best for: Established SMEs looking for a substantial amount of cash to scale up.
4. Validus
Validus is not a bank; it is a P2P (Peer-to-Peer) lending platform. They connect investors directly to SMEs. They are famous for “Invoice Financing.” If you have unpaid invoices from big clients (like government agencies or MNCs) but need cash now, Validus will lend you money against those invoices.
Best for: B2B businesses that have cash stuck in unpaid invoices.
5. Funding Societies
Funding Societies is the largest digital financing platform in Southeast Asia. They fill the gap that traditional banks leave behind. They offer “Micro Loans” that are incredibly easy to get approved for, even if your credit history isn’t perfect. The amounts are smaller, but the disbursement is lightning fast.
Best for: Small businesses that have been rejected by traditional banks.
6. Aspire
Aspire offers a “Corporate Card” with a credit limit, which functions similarly to a loan. It is a revolving credit line. You get a limit, you spend it on marketing or software, and you pay it back. It is 100% digital and integrates with your accounting software.
Best for: Tech startups and e-commerce sellers needing a flexible credit line for digital ad spend.
7. Standard Chartered SME Banking
Standard Chartered is aggressive in the market, often offering competitive interest rates to win clients over from the local banks. Their “Business Installment Loan” allows for a repayment period of up to 3 to 5 years, giving you plenty of runway to pay it back comfortably.
Best for: Companies looking for longer repayment tenures to manage monthly cash flow.
8. Maybank Business Term Loan
Maybank is a fantastic option if your business has cross-border dealings with Malaysia. Beyond that, they are known for having very transparent fee structures. They offer government-assisted loans (like the Enterprise Financing Scheme) with very clear guidance on eligibility.
Best for: Businesses that want personalized service and have dealings across the Causeway.
9. ANEXT Bank
ANEXT is a digital wholesale bank by Ant Group (Alibaba). They are built specifically for micro-SMEs. Their application process is ridiculously simple—sometimes requiring nothing more than your Corppass login. They offer smaller loans (starting from just $5,000) which big banks usually ignore.
Best for: Micro-businesses and sole proprietorships needing small, quick amounts.
10. GrabFinance
Yes, the app you use to order food also lends money. GrabFinance uses the data from your Grab usage (especially if you are a GrabFood merchant or use GrabPay) to assess your creditworthiness. There is no paperwork; the offer usually pops up right inside your app.
Best for: F&B merchants and retail shops already integrated into the Grab ecosystem.
