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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.

  1. Visit BOC’s website and choose the type of loan that will work for your business
  2. Phone BOC, at 6412 8529, to discuss your loan in more detail
  3. 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.

Compare other business loans

Name Product Interest Rate From Maximum Loan Amount Minimum Loan Term Maximum Loan Term Collateral-free
Validus Working Capital Loan
1.5%
S$250,000
1 month
12 months
Yes
Unsecured short-term capital injection for small businesses at low interest rates.
Aspire Business Line of Credit
Aspire Business Line of Credit
1%
S$300,000
No minimum loan term
Credit lines are reviewed every 6 months
Yes
A low-interest revolving line of credit for SMEs and Startups with no monthly or non-utilisation fees.
Validus Purchase Order Financing
Validus Purchase Order Financing
1.25%
S$250,000
30 days
90 days
Yes
Tap on credit from accounts receivable or unpaid invoices at low interest rates.
Validus Invoice Financing
Validus Invoice Financing
1%
S$1,000,000
30 days
150 days
Yes
Boost business’s cash flow instantly by leveraging credit on unpaid invoices.
DBS Business Loan
11.5%
S$500,000
1 year
5 years
Yes
Fuel your business growth with high loan amounts at competitive rates and flexible repayment terms.
OCBC Business Term Loan
10.88%
S$500,000
1 year
5 years
Yes
A collateral-free SME loan that comes with high financing amount and no early redemption fees.
UOB SME Enhanced Working Capital Loan
2.88%
S$1,000,000
1 year
5 years
Yes
An unsecured, low-interest working capital loan scheme designed for small local businesses.
OCBC Business First Loan
7.5%
S$100,000
1 year
4 years
Yes
A government assisted, unsecured loan designed for companies with repayment over 4 years.
UOB BizMoney
10.88%
S$350,000
1 year
3 years
Yes
A collateral-free financing scheme with high loan quantum for small businesses in Singapore.
Funding Societies FS Bolt
1%
S$100,000
1 month
12 months
Yes
Low-interest working capital loan tailored for local SME and startups, with no collateral required.
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Compare up to 4 providers

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