SME Loans in Singapore, Matched to
Your Business — Not Our Commission

The SME Financing Landscape

Singapore's SME lending market offers more options than most business owners realise — and more traps. Banks provide the cheapest capital but reject applications that don't fit rigid templates. Alternative lenders approve faster but charge significantly more. Private credit fills gaps neither can reach but operates in a space most borrowers don't know exists.

CraftWise exists to navigate this landscape for you. We assess your business profile against the full range of lenders — not just the ones that pay us the most — and recommend the option that genuinely fits your situation. If a bank will approve you, we won't send you to a more expensive alternative. If a bank won't, we won't waste your time applying.

Types of SME Financing We Advise On

Working capital loans — short-term facilities to fund operations, payroll, inventory, or cash flow gaps between receivables and payables. Available through banks (including government-assisted schemes like the Enterprise Financing Scheme), alternative lenders, and private credit.

Term loans — lump-sum facilities repaid over a fixed period, typically for business expansion, equipment purchase, or capital expenditure. Banks offer the best rates for established businesses; alternative lenders serve those who don't meet bank criteria.

Trade financing — facilities structured around purchase orders, invoices, or letters of credit. Useful for import/export businesses and those with strong receivables but limited cash reserves.

Revenue-based financing — newer structures where repayment scales with your revenue rather than fixed monthly instalments. Particularly relevant for businesses with seasonal or variable income.

Government-assisted schemes — Enterprise Financing Scheme (EFS) working capital loans, trade loans, and venture debt supported by Enterprise Singapore. Government risk-sharing lowers the lender's exposure, which can mean approval for businesses that would otherwise be declined.

Why SME Loan Applications Get Rejected

Banks decline SME loans for predictable, addressable reasons. The most common: operating history under two years, insufficient revenue relative to the loan amount, weak personal credit scores of directors, unclear loan purpose, or financials that don't tell a clean story. Many of these are fixable — but only if you know they're the problem before you apply.

Every declined application leaves a mark on your credit record. Multiple rejections in quick succession damage your profile further, making each subsequent application harder. This is why scattershot applications — submitting to five banks and hoping one says yes — actively hurt you.

CraftWise's approach is the opposite: we assess your profile first, identify which lenders your application fits, and apply selectively. One well-placed application is worth more than five hopeful ones.

Eligibility: What Lenders Look For

Banks typically require: minimum 2 years of operating history, positive revenue trajectory, clean or near-clean director credit records, ACRA registration in Singapore, and clear financial statements or management accounts.

Alternative lenders are more flexible on: operating history (some accept under 1 year), credit impairments, non-standard business models, and documentation depth. They compensate for higher risk with higher interest rates.

Private credit lenders evaluate: asset backing, cash flow quality, and the commercial logic of the deal. They're less formulaic than banks and less constrained than licensed moneylenders — but they require a clear value proposition.

Documents You'll Typically Need

ACRA business profile, latest 2 years of financial statements or management accounts, directors' Notice of Assessment (NOA), 6 months of business bank statements, and a brief description of the loan purpose and amount. Banks ask for more; alternative lenders ask for less. CraftWise prepares and packages your application to each lender's specific requirements — presenting your case professionally increases approval odds and can improve the terms you're offered.

How CraftWise Works for SME Borrowers

We start with a consultation — no charge, no obligation — to understand your business, your financing need, and your timeline. We then assess your profile against our lender network and come back with a clear recommendation: which lender type fits, what terms to expect, and what the realistic approval timeline looks like. If we can help, we handle the application. If a bank will serve you directly and a broker adds no value, we'll tell you that too.

For how we're compensated — and why borrowers pay nothing for a straightforward match — see our fee transparency page.