• UOB SME Loans Singapore

    Personal Loan BYTES FROM OUR KITCHEN

    Overview of United Overseas Bank SME Loan

    If you are planning to expand the premise of your business then Commercial Loans (SMEs) can really be of use. They can help you with the everyday working of your organisation. UOB SME Loan is good for a long time investment. If you are planning to buy some machineries for your company the United Overseas bank Commercial Loans can be of great help. No matter what you needs are for your business, United Overseas Bank ensures that they take care of it.

    UOB Bank is a prestigious bank that offers great innovative financial solutions to its customers. Choosing a commercial loan product offered by them can definitely prove to be extremely useful.

    Types of UOB Loans (SMEs)

    • Working Capital Financing
    • Trade Financing
    • Commercial and Industrial Property Financing
    • Vehicle Financing
    • Machinery and Equipment Financing

    Working Capital Financing –

    Working Capital Financing is a great opportunity for investing. It helps you to manage your cash flow when you are in need of credit. With the overdraft facility offered by United Overseas Bank, you can avail more funds when you are in need. Thus, you can enjoy complete freedom to act on the needs and opportunities. Another advantage of the Working Capital Financing is that there are no extra charges associated with it. All you have to do is pay the interest on the money that are using. If you have a business in today’s world then this a must have for you. The financial requirements will fluctuate but this loan will always help you out.

    Trade Services –

    The Trade Finance and Services offer comprehensive financial solutions to the companies that are engaged in domestic and international trade transactions. The Trade Finance solutions that are offered by United Oversea Bank are Documentary Collections, Letters of Credit, Banker’s Guarantees, Open Account Transactions and Standby Letters of Credit. On any underlying trade transaction, working capital financing can be availed. The bank will also take care of the risks that the exporters have to undertake.

    Features of Trade Services offered by UOB

    An immense amount of liquidity and flexibility can be enjoyed with the import services offered by United Overseas Bank. These services are as follows.

    • Important Letter of Credit
    • Trust Receipt
    • Invoice Financing
    • Import Documentary Collection

    The export services offer great liquidity and flexibility to the business. The services are as follows.

    • Advising of Export Letter of Credit
    • Negotiation of Export Letter of Credit
    • Confirmation of Export Letter of Credit
    • Transferring of Export Letter of Credit
    • Purchasing of Export Bill
    • Packing of Credit Loan
    • Discounting of Trade Bill
    • Export Documentary Collection
    • Financing of Open Account Trade Transaction

    The Banker’s guarantees and Standby Letters of Credit are issued by United Overseas Bank.

    • Bid Bond
    • Warranty Bond
    • Performance bond
    • Shipping Guarantee
    • Financial Guarantee
    • Advance Payment Guarantee

    Benefits of Trade Services offered by UOB

    • You can enjoy direct links with the worldwide trading parties via United Overseas Bank Group’s network of all the regional offices and the worldwide correspondent relationships. This also assures the fact that the trade instruments of the Bank are widely accepted
    • The automation system is efficient and it meets all the demands and requirements of the complex agreements of trade with both exporters and importers
    • Electronic submissions of the applications can be done via Business Internet Banking Plus
    • Trade Alerts can be received by you for the export and import status of your shipments

    UOB Commercial and Industry Property Financing

    Whether you’re planning to purchase a new business property or refinance your present premises of business, United Overseas bank is always there to help. The quantum of the finance is high and the rates of interest are attractive too. The repayment period is long enough, so you can make the payments without taking any pressure. The finance can be enjoyed for different business premises. These include shop units, office units, warehouses and factories. You may choose to combine this with overdraft facility for availing maximum flexibility.

    Vehicle Financing

    The HP (Hire Purchase) facility can be availed by you to finance the purchase of vehicles. You will make the payments directly to the vendor as this particular arrangement of finance is strictly for the purchase of the commercial vehicles. The legal ownership will be taken by the bank, making you the hirer. After you complete making all the payments and clear all debts, the ownership of the vehicles will be transferred to you. The repayment mode is pretty flexible and the rates of interest are also attractive. Not only can you purchase your commercial vehicles at ease, but also you can manage the cash flow properly.

    Machinery and Equipment Financing –

    You can go ahead and make use of the Hire Purchase (HP) facility for buying machinery and equipment. With this particular arrangement, all your payments for the equipment and machine will be made directly to the vendor. Thus, the bank will have the ownership of all the machines that you buy for your business. You will become a hirer in this case. After you make all the payments for the loan and clear the debt, you will get the ownership of the machines and equipment

    Hire Purchase Financing –

    You can submit your application for hire purchase through Government Assistance Schemes.

    • Local Enterprise Finance Scheme – In order to be eligible for LEFS or Local Enterprise Finance Scheme your business must be incorporated or registered in Singapore. The local shareholdings must be at least 30 percent. The employment size of the company cannot be more than 200 and the company’s group annual sales should not exceed SGD 100 million.
    • Internationalisation Finance Scheme – To be eligible for IFS or Internationalisation Finance Scheme the company must be based in Singapore. Even if it is overseas, it should be associated to a company that is based in Singapore. The turnover for all the non-trading companies should not cross a limit of SGD 300 million. For all the trading companies, the turnover must not exceed a limit of SGD 500 million.

    Eligibility for United Bank SME Loan

    In most cases, UOB Commercial Banking Loans are offered to businesses registered in Singapore.

    Explore the Other Loans Offered by UOB Singapore:

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