FAQ

General FAQs

Q1. What types of business can be qualified?
A.

Business Loan and Invoice Factoring are available for any legitimate business in Singapore.

Q2. Do I have to pay a fee to process my application?
A.

No. We do not have an application fee.

Q3. Are there any cancellation fees if the offer is not accepted?
A.

No. We do not have any cancellation fees if the offer is not accepted.

Q4. What can the funds be used for?
A.

The funds can be used for any purpose associated with the operations of businesses and/or expansion of existing businesses.

Q5. Can applicant use the funds to pay personal debts or tide over other business contingencies?
A.

No. The funds should be used directly to the terms of business applications and not be diverted to other uses.

Q6. How can an applicant go about applying for the Business Loan and Invoice Factoring?
A.

Applicants can contact our Customer Service hotline number, between operating hours 9:00am to 6:00pm from Mondays to Fridays, excluding Public Holidays. Alternatively, applicants may wish to email us at cs@gremiocapital.com

Q7. When will the applicant know the outcome of his or her application?
A.

The time taken for the processing of the business loan or invoice factoring will depend on the information and/or documentation provided by the applicant. Applicants should be able to know the outcome within 2 working days, upon receipt of complete documentation.

Business Loan FAQs

Q1. What is the objective of Business Loan?
A.

A strategic business funding solution to boost local SMEs working capital.

Q2. Features & benefits of the Business Loan
A.
  • Enjoy fast approval in 2 working days*
  • Offers lump sum disbursement of funds upfront
  • No collateral required
  • Hassle free regular payment schedule & amount in place
  • Convenient choice of funds repayment modes
  • No impact on credit standing
  • Enhance cash flow management for business operations
Q3. Who is eligible to apply for Business Loan?
A.
  • Applicable for Limited Liability Partnership or Private Limited Company
  • Company must have at least 51% local shareholding
  • Have a registered business address incorporated in Singapore
  • Business must be established and in operations for a minimum period of 6 months
  • Principal guarantor(s) must be Singaporean or Singapore Permanent Resident, and aged 21 and above
Q4. What is the minimum and maximum amount an applicant can apply for?
A.
  • An applicant must at least apply for an amount of S$30,000.
  • An applicant can apply for an amount up to S$300,000.
Q5. How long can the repayments of the loan be?
A.

The maximum duration of the loan is up to 12 months.

Q6. What are the repayment terms?
A.

The loan repayments will be on a monthly basis.

Q7. How is the loan repayment calculated?
A.

Monthly loan repayment is divided equally according to the loan tenor.

Q8. Can the applicant request for loan repayment deferment?
A.

No. Deferment of loan repayment is not permissible.

Q9. Are there any fees for early loan repayment?
A.

No. We do not have any fees for early loan repayment.

Q10. What happens if loan applicant misses the monthly payments?
A.

An administration fee will apply to all late payments.

Q11. Will I receive a statement of account?
A.

Yes. We will send a statement of account to you on a monthly basis.

Invoice Factoring FAQs

Q1. What is the objective of Invoice Factoring?
A.

A strategic business funding solution to improve local SMEs cash flow management.

Q2. Features & benefits of the Invoice Factoring
A.
  • Enjoy fast approval in 3 working days*
  • Provides a large and quick boost to cash flow
  • Ability to service large and/or unexpected orders
  • Purchase inventory to take advantage of bulk and/or early payment discounts from suppliers to improve business profitability
  • Fund expansion and growth
  • Respond to seasonal demands and opportunities
  • No impact on credit standing
Q3. Who is eligible to apply for Invoice Factoring?
A.
  • Applicable for General Partnership, Limited Partnership, Limited Liability Partnership or Private Limited Company
  • Company must have at least 51% local shareholding
  • Have a registered business address incoirporated in Singapore
  • Business must be established and in operations for a minimum period of 1 year
  • Principal guarantor(s) must be Singaporean or Singapore Permanent Resident, and aged 21 and above
Q4. What will my customers think?
A.

Invoice Factoring is used by many local SMEs and large corporations in the world to improve cash flow, support business growth, and increase profits. Chances are that your customers are already familiar with invoice factoring, or maybe even have used it for their own businesses before. Furthermore, the fact that you qualify for invoice factoring actually shows that your business is in good credit standing.

Q5. What type of receivables is acceptable?
A.

Any valid invoice already performed that has not been pledged to another entity.

Q6. What is required before buying an invoice?
A.

The work or goods must have been completed, delivered and accepted; and your customer must be financially sound.

Q7. Is there any additional collateral required to factor?
A.

No. Invoice factoring does not require any additional collateral.

Q8. Do I have to factor all of my invoices?
A.

No. You can factor as many of your customers' invoices according for your business needs.

Q9. Are there late payment fees?
A.

Yes. An administration fee will apply to all late payments.

 

Merchant Business Loan FAQs

Q1. What is the objective of Merchant Business Loan?
A.

A strategic innovative business funding solution to merchants with liquidity injected for their business growth and/or expansion plans.

Q2. Features & benefits of the Merchant Business Loan
A.
  • Enjoy fast approval in 2 working days*
  • Offers lump sum disbursement of funds upfront
  • No collateral required
  • Hassle free regular payment schedule & amount in place
  • No impact on credit standing
  • Enhance cash flow management for business operations
  • Be rewarded for prompt payments
Q3. Who is eligible to apply for Merchant Business Loan?
A.
  • Applicable for Limited Liability Partnership or Private Limited Company.
  • Company must have at least 51% local shareholding and be held by Singapore Citizen or Permanent Resident.
  • Company must have a retail space in Singapore.
  • Company must obtain their NETS, credit and/or debit card payments such as Visa, MAster and Amex payment terminals from any of the local banks in Singapore for at least 6 months.
  • Have a registered business address incorporated in Singapore.
  • Business must be established and in operations for a minimum period of 6 months.
  • Principal guarantor(s) must be Singaporean or Singapore Permanent Resident, and aged 21 and above.
Q4. What is the minimum and maximum amount an applicant can apply for?
A.
  • An applicant must at least apply for an amount of S$30,000.
  • An applicant can apply for an amount up to S$1,000,000.
Q5. How long can the repayments of the loan be?
A.

The maximum duration of the loan is up to 6 months.

Q6. What are the repayment terms?
A.

The loan repayments will be on a weekly basis, repayable in 26 weeks over a 6 months period.

Q7. How is the loan repayment calculated?
A.

Weekly loan repayment is divided equally according to the loan tenor.

Q8. Can the applicant request for loan repayment deferment?
A.

No. Deferment of loan repayment is not permissible.

Q9. Are there any fees for early loan repayment?
A.

No. We do not have any fees for early loan repayment. Repayment must be settled in full.

Q10. What happens if loan applicant misses the monthly payments?
A.
  • An adminstration fee will apply to all late payments
  • Loan applicant will not get to enjoy rebates.
Q11. Will I receive a statement of account?
A.

Yes. We will send a statement of account to you on a monthly basis.


Terms & conditions apply
*Upon receipt of complete documentation
 
Awards

“We have been successfully conferred the Promising SME 500 2015 recognition.”

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ASME
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CONNECT WITH US
Address :
Phone : +65 9788 7383
Fax :
E-mail : cs@gremiocapital.com
Operating Hours : 9:00am to 6:00pm (Mondays to Fridays, excluding Public Holidays)