• Citibank Unsecured Business Loan

    Personal Loan BYTES FROM OUR KITCHEN

    Citibank Unsecured Business Loan

    Small and medium scale enterprises, sole enterprises and even a few of the large corporations are often faced with shortage of funds to manage their cash flow, procure new equipment or expand their organization. However, funds can be difficult to come by and so they have to take a business loan from a bank or financial institution. However, the problem is that most lenders require business organizations to offer collateral security when applying for a loan but not too many businesses can afford to pledge any financial asset as collateral. Businesses who cannot provide collateral security but need to apply for a loan can opt for an unsecured business loan such as the one provided by Citibank Singapore.

    Overview of Citibank Unsecured Business Loan

    Citibank is one of the oldest and biggest financial institutions in the world and the bank offers a range of products such as credit cards, debit cards, business loans, personal loans etc. Credit products offered by the bank such as Citibank personal loans are very popular with customers around the globe. Even in Singapore, the bank offers this products and they are able to cater to the specific needs of the customers in the country. In order to make sure that the businesses in Singapore have access to easy credit, Citibank offers a variety of business loan products. Citibank Unsecured Business Loans have been designed for those businesses that require access to funds but cannot provide any collateral security.

    Why Choose Citibank Unsecured Business Loan?

    In order to efficiently manage your business, you will need to have access to sufficient funds. Certain needs of your organisation such as the purchase of new tools and equipment, opening a new branch or simply increasing your volume of production will require you to invest money. If you do not have access to that money you will need to apply for a loan. A secured loan will require you to pledge a financial asset as collateral security and if you cannot do so you can apply for unsecured business loans such as the ones offered by Citibank in Singapore. An unsecured business loan from Citibank can help your business to get access to a lot of money within no time.

    Features and Benefits of Citibank Unsecured Business Loan

    • You can access up to SGD 350,000 as a loan and so you will find it easier to meet the financial needs of your business.
    • Once you provide all the required documents while applying for the loan, the loan application will be processed in no time.
    • You will enjoy very competitive and attractive interest rates with the loan amount.
    • The loan will come with a repayment period of maximum 4 years and so you will not find it a very difficult task to pay off the borrowed amount.
    • You will be offered with regular repayment amounts and schedules for matching the cash flow of your business.
    • The loan instalment payment due every month will be deducted automatically from your account and so you will not have to worry about missing any payments.
    • You will be offered with overdraft facility along with this loan and so you can access extra cash whenever there is a need.
    • The loan amount will be disbursed as a lump sum amount and will be very helpful in meeting the immediate financial needs of your business.
    • You will enjoy the flexibility of using the loan amount in any way you like.
    • If you are a Citigold client, you will be offered with preferential interest rates and will be able to save a lot of money in the process.

    Citibank Unsecured Business Loan Eligibility

    • Your business should be registered in Singapore.
    • Minimum 30 percent shares of the company should be held by people who are citizens and/or permanent residents of Singapore.
    • Your business should have been operational for a minimum period of 3 years.
    • The sales turnover of your business should be minimum SGD 750,000 annually.

    Documents Required

    You will need to submit the following documents when you apply for an unsecured loan from Citibank:

    • Application form for Citibank Unsecured Business Loan
    • Copies of the identity cards of Partners / Guarantors / Sole Proprietors
    • The statements of the current account (operating) of the business for the last 6 months
    • The financial statements of the company for the last 2 years
    • The Income Tax Notice of Assessments of the Partners / Guarantors / Sole Proprietors

    Explore the Loans Offered By Citibank Bank:

    Frequently Asked Questions (FAQs)

    1. What is the maximum loan amount offered with unsecured business loans from Citibank?

      The maximum loan amount offered with unsecured business loans from the bank is SGD 350,000.

    2. What is the repayment tenure offered with Citibank unsecured business loans?

      These business loans will come with a repayment period of maximum 4 years.

    3. Are Malaysian registered businesses eligible for this loan product offered by Citibank in Singapore?

      No, only businesses that are registered in Singapore and meet the other eligibility criteria are eligible for an unsecured business loan from Citibank.

    4. What should be the sales turnover of a business to be eligible for Citibank unsecured business loans?

      The sales turnover of your business should be minimum SGD 750,000 annually to be eligible for this loan.

    5. Does Citibank offer an unsecured business loan to businesses that have been operational for less than 5 years?

      Yes, businesses that have been operational for a minimum period of 3 years and meet the other eligibility criteria can apply for an unsecured business loan from the bank.

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