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BOC business loans
Remove roadblocks in your business with a loan from BOC.
Finding a business loan that meets the needs of your business for you can be essential to help finance and grow your company. BOC offers a range of corporate term loans which are tailored to meet the needs of more established businesses. Here are the key points to understand about BOC business loans.
How does a business loan from BOC work?
BOC business loans can be obtained in just a few simple steps.
- Visit BOC’s website and choose the type of loan that will work for your business
- Phone BOC, at 6412 8529, to discuss your loan in more detail
- Take any necessary further steps to apply for a business loan.
Features of a BOC business loan
- Good range of loan types to compare. According to BOC’s website, this provider currently offers four different corporate loan plans to meet business needs. At the time of writing, these were: syndicated loans, business overdrafts, asset financing and revolving credit facility (“RCF”).
- Trusted bank in Singapore. BOC is a well-respected name in Singaporean banking. As a customer you can expect excellent security features, including systems in place that tackle fraudulent activity and protect your personal data, and more. The multinational bank offers a range of business and personal accounts, home loans, credit cards and a host of other banking services.
How much will a BOC business loan cost?
- Rates of interest. Your interest rate will differ according to the type of loan and the risk involved. However, these loans are typically calculated on a monthly basis.
- Fees and charges. A processing fee and an early repayment fee are among the charges which could apply to your loan. OCBC loans may also carry a prepayment charge.
Make sure you read the full terms and conditions of your loan so that you understand its total cost, including all of the fees and charges you’ll want to be aware of.
How to apply for a business loan with BOC
The key eligibility criterion for BOC business loans is to have enough income to repay the loan. Additionally, a reasonable credit history is very important. This provider is likely to ask you how long has your company been registered and operating in Singapore, its business plan, and its annual revenue among other information.
Step 1: Decide on the type of business loan you want to apply for.
Step 2: Owing to the varied nature of obtaining a loan from BOC, the bank asks you to call 6412 8529 to begin the process of your loan application.
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