GrabFinance is a division of Grab, focused on helping SMEs across Southeast Asia get started, grow and thrive. We know that running your own business is hard work and it’s easy to lose sight of your big dreams when you’re focused on the day to day. That’s why we’re here to help with flexible, affordable funding options and tips, tricks, insights and tools to take your business from strength to strength.
That depends on what you need funding for. We offer three different streams of business funding to suit your needs.
If you’re looking for a quick cash investment to take advantage of a limited-time opportunity, redesign your website, boost your cashflow or anything else for your business, a GrabFinance Business Loan may be right for you, offering up to $100,000 over 12 months.
If you need ongoing access to short-term funding, a GrabFinance Merchant Credit Line might be more up your alley. With a pre-approved line of credit available, you can drawdown funds to your bank account when you need to, up to your limit.
To be eligible for a GrabFinance Business Loan or Merchant Credit Line, you’ll need to be:
• A limited liability partnership or company,
• In operation for at least 6 months,
• At least 30% owned by a Singapore citizen or PR, and
• Fewer than 200 staff.
Unfortunately, sole proprietors are generally not eligible for GrabFinance loans or lines of credit. However, we understand that funding is still important to grow your business so, if you’re a GrabFood or GrabPay partner registered with ACRA, your application for a short-term Business Loan (up to 6 months) may be considered.
To complete your application, we’ll need a copy of your:
• Identification card or passport,
• Business registration documents,
• Recent financial statements, and
• Information about your director or head of operations.
Yes. Get in touch and we can chat to see if you’re eligible for a second business loan.
It can take up to five business days for us to review and approve your completed application and supporting documents. Once accepted, you’ll receive your funds in just a couple of days.
There’s no application or repayment fee. Just:
• Monthly interest: As low as 0.7%, computed on a reducing balance basis.
• Disbursal fee: 5% of the loan amount.
• Late fee: Twice the existing monthly interest rate applicable on the overdue principal amount.
If you’re a GrabPay or GrabFood partner, repayments will be automatically deducted from your GrabPay Wallet at the end of each month. If there’s not enough funds available in your balance, we’ll deduct the remainder from your bank account.
If you’re not a Grab merchant, repayments will be automatically deducted from your bank account at the end of each month.
Either way, there’s nothing for you to do except keep focusing on your business.
We’re sorry to hear that. You can apply again after a month. Just complete the form when you’re ready and one of our team will get in touch.
Simply put, anything you need! You can meet your immediate business needs, better manage your cashflow, upgrade your offices or technology, hire freelancers or pay employees, redesign your website, launch marketing campaigns – your opportunities are endless.
Depending on your business, you can borrow up to $100,000 over 12 months for your business.
Simply submit a request and we’ll transfer the funds to your bank account. Drawdowns are disbursed every Tuesday and Thursday.
Of course. So long as you haven’t reached your Merchant Credit Line limit, you can draw down as often as you need.
You can be pre-approved for up to $100,000, depending on your business, so you can draw down as little or as much as you need, when you need it.
This information is intended as a guide only and does not constitute a loan application or offer of finance. Any finance or loan request is subject to Grab’s internal assessment, standard disclaimers and terms and conditions.
Complete our form and we’ll be in touch to talk about your business funding needs.
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