For personal loans, we work with lenders from various categories that are not as strict as a bank.
For business loans, as an officer of the company, your ability to manage your personal finances is often taken into consideration. This is especially true in Singapore, where company officers often act as guarantors — the “second line of defence” for lenders. If your company's financials are weak, your chances of securing a business loan may be lower, or you may face higher interest rates if your personal credit is poor. Some companies even change their appointed officers for this reason.
To understand why this matters, read our FAQ on when shareholders’ and directors’ NOAs are required for business loans.
Alternatively, you can consider loans such as Merchant Cash Advance or Invoice Financing, which place less emphasis on repayment ability and more on projected transactions. Secured options like Secured Overdraft or Property Gear Up loans are also available — these rely more on collateral than credit score.
To learn more about other loan types, visit our Glossary — or get started with your loan search here.