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    Bank of China Corporate Loans

    Bank of China (BOC) is a very popular bank in Singapore. This bank offers a variety of loans for both personal and corporate purposes. The bank has a proper range of corporate loans. You can select an appropriate loan for your company from the collection of these loans.

    Syndicated loan

    BOC offers a syndicated loan where the excessive funds from different financial companies are used to fund the requirements of a business. A syndicated loan is generally provided by an association of a minimum of 2 or more financial institutions. BOC Singapore makes arrangements for giving this type of loan to its customers.

    Features of BOC Syndicated loan

    Let us discuss the features of this product:

    • The financing amount of this loan is usually high.
    • This loan will be sourced by BOC from local or global financial markets.
    • This loan can be utilised for needs such as working capital, investments, acquisitions, office property renovation, project planning and execution needs.
    • This loan can be used in all kinds of industries.
    • You can procure this financing in the form of revolving credit, term loan, or any other type according to your financial condition.

    Eligibility criteria

    Let us take a look at the eligibility criteria for BOC Syndicated loan:

    • This loan is given to medium and large companies, financial institutions, multinational companies, governmental companies, and even central governments and their agencies.
    • The applicants can obtain this financing by themselves or with the help of an agency.
    • The applicant’s financial profile will be evaluated before the loan is disbursed.

    Application requirements

    • You will have to give specific information about your financing needs.
    • You will need to provide your business plans.
    • You will have to provide background information and financial profile of yourself and your group.
    • You will need to give your company’s financial statement or annual report for the latest 3 years along with your cashflow forecasts.

    BOC Overdraft

    BOC Overdraft is a credit facility that is provided to a company for its everyday business activities. It can be secured or unsecured in nature.

    Features of BOC Overdraft

    Let us take a look at the characteristics of BOC Overdraft:

    • You will be required to pay an interest only on the funds that you use.
    • You can repay your loan flexibly without following any fixed term.
    • This credit functions on a revolving basis.

    Eligibility criteria

    Let us take a look at the eligibility criteria for BOC Overdraft:

    • Your business must be registered in Singapore.
    • Your company can be a sole proprietorship, a partnership, a public company or a private limited company.

    Documents required

    You will have to submit a few documents compulsorily while applying for BOC Overdraft:

    • Your company and business profile
    • Application form for this loan product
    • Memorandum and Articles of Association
    • Director’s Resolution
    • Certificate of Incorporation
    • Income Tax Notice of Assessment for the most recent 2 years of sole proprietor or a partner or a director
    • Certificate of Incorporation
    • Complete details regarding mortgaged assets and guarantors

    BOC Asset Financing

    BOC Asset Financing is term loan programme which is secured in nature. You will have to provide a security or a collateral while applying for this loan. This type of financing is ideal for your business when you need to buy an asset. It can be a land for business such as an industrial warehouse, shop unit, storage unit, or shop house. You can also use it to purchase fixed assets or to refinance your current loan.

    Features of BOC Asset Financing

    Let us take a look at the characteristics of BOC Asset Financing:

    • You can select a short term or a mid-term or a long-term loan.
    • You will receive a high loan amount when you choose this product.
    • You will have to repay your loan in fixed terms.
    • This loan can be obtained for commercial financing, ship financing, industrial property financing, and refinancing.

    Eligibility criteria

    Let us discuss the eligibility criteria for BOC Asset Financing:

    • Your company should be registered in Singapore.
    • This loan can be taken by a sole proprietorship, a private company, a partnership, or a public company.

    Documents required

    Let us take a look at the documents you need to submit while applying for BOC Asset Financing:

    • Your company and business profile
    • Your application form for this financing product
    • Memorandum and Articles of Association
    • Directors’ Resolution
    • Clear details regarding guarantors or mortgaged assets
    • Audited financial reports and the most recent financial reports for the last 3 years
    • Income Tax Notice of Assessment for the latest 2 years for sole proprietors, partners, or directors

    BOC Revolving Credit Facility (RCF)

    BOC Revolving Credit Facility is a revolving term loan that is provided to a corporation. It can be secured or unsecured. You can use this loan for organising your everyday business and for meeting your working capital needs. You can drawdown this loan in various portions.

    Features of BOC Revolving Credit Facility (RCF)

    Let us take a look at the features of this product:

    • You will be able to pay interest at the end of every interest period.
    • You can enjoy flexible interest periods.

    Eligibility criteria

    Let us take a look at the eligibility criteria for BOC Revolving Credit Facility:

    • Your company should be registered in Singapore.
    • This loan is given to all companies, specifically public companies and private limited companies.

    Documents required

    Let us take a look at the documents you need to submit while applying for BOC Asset Financing:

    • Your company and business profile
    • Your application form for this financing product
    • Memorandum and Articles of Association
    • Directors’ Resolution
    • Clear details regarding guarantors or mortgaged assets
    • Audited financial reports and the most recent financial reports for the last 3 years
    • Income Tax Notice of Assessment for the latest 2 years for sole proprietors, partners, or directors

    How to apply

    You can apply for all the BOC corporate loans by contacting the Corporate Banking Department. You can also visit the nearest BOC branch to meet a representative for reliable support.

    FAQs

    1. Is the BOC Overdraft facility fixed in nature
    2. No, the BOC Overdraft facility functions on a revolving basis. You do not have to repay your loan in fixed intervals.

    3. When I select the BOC Overdraft facility, will I have to pay interest even for money that I have not used
    4. No, when you choose the BOC Overdraft facility, you will have to pay interest only on the money that you have actually used.

    5. Is BOC Asset Financing a secured form of financing
    6. Yes, BOC Asset Financing is a secured loan. This is because you will have to provide your asset as a security when you are taking funds to buy this asset.

    Products offered by BOC Singapore

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