OPAL provides:
1. Micro Loan (Bolt)
Micro loans, also known as micro financing, are flexible short-term loans for SMEs with approval within 24 hours. Micro loans are suitable for SMEs that need urgent financing. The loan amount will be in the range of S$3,000 - S$100,000.
- Lightning fast application as soon as 2 minutes;
- Disbursement in 24 hours;
- Suitable for all business entities;
- Preferable rates.
2. Business Term Loan
Term loans, also known as term financing, are unsecured loan products that allow SMEs to break down re-payments into monthly instalments. With term loans, you can get a working capital loan between S$50,000 and S$2 million with interest rates as low as 0.8% per month.
- Unsecured business financing;
- Customizable repayment options;
- Tenor: up to 12 months;
- Preferable rates.
3. Invoice Financing Line
Invoice Financing is a broad concept of financing arrangement where it allows companies to finance their early payment on their sales invoices or sales purchases, for goods delivered and/or services completed. This method of financing is ideal for businesses in need of consistent cash flow or cash upfront, especially if the majority of their transactions are on credit terms.
- Obtain cash upfront by converting your invoices;
- Credit line up to S$1 million;
- Financing up to 80% of the invoice value;
- Tenor up to 120 days;
- Preferable rates.
4. Revolving Credit Facility
A revolving credit facility is a type of credit that enables you to withdraw money, use it to fund your business, repay it and then withdraw it again when you need it. It’s a flexible funding solution due to its repayment and re-borrowing accommodations.
- Revolving line of credit;
- Flexible repayment and draw-down ability;
- Ready access to funding to fulfil your business needs;
- Loan Amount: Up to S$1 million;
- Tenor: Up to 120 days.
5. Buy Now Pay Later (BNPL) for Businesses
With BNPL, you can access a pre-approved credit line for use anytime without any collateral. Furthermore, this can be a cheaper source of funds compared to your credit card monthly interest rate.
- Pre-approved line of credit;
- Approval in less than 48hrs after submitting required documents;
- Initial credit limit of S$20,000 with incremental options going up to S$100,000;
- Repayment tenor: 30 days after receiving your bill.