Honest answers to real questions.

KAPVOY Advisory charges a success-only fee of 3–5% of your approved loan amount. The fee is paid only on the day your funds are disbursed. If we don't get you funded, you pay nothing. There are no consultation fees, no assessment charges, and no application processing fees.

We earn from borrowers only, not from lenders. KAPVOY Advisory receives no referral fees, kickbacks, or payments from banks or financial institutions. This means we have no financial incentive to recommend one lender over another. We recommend based on what best fits your profile.

No. KAPVOY Advisory is an independent financing advisor, not a licensed moneylender or bank. We connect borrowers with licensed financial institutions and banks. All loans are provided by our panel of regulated lenders. We handle the advisory and application process on your behalf.

When you apply directly to a bank, you see only that bank's products. KAPVOY Advisory compares 30+ lenders at once: major banks, digital banks, P2P platforms and private credit providers. We then submit to the 2–4 most likely to approve your profile. One application. Multiple real offers.

After reviewing your profile, KAPVOY Advisory identifies the 2–4 lenders most likely to approve you and submits your application to all of them at the same time. You receive real approval offers from each, not estimates, and choose the best terms. Multiple submissions to banks within a short window do not compound credit score impact the way multiple independent applications do, because lenders see they are part of a broker-coordinated process.

You pay nothing. Our success-only model means KAPVOY Advisory only earns when you're funded. If all submissions are declined, we conduct a post-rejection review: we identify the specific reasons (CBS score, cash flow gaps, sector risk, director history) and either restructure your application for a second round or advise on the steps needed to qualify within 3–6 months. We don't close the file on a decline.

Yes. Existing loans don't disqualify you. We regularly help businesses with top-up financing (additional facilities on top of an existing loan), refinancing (better terms on a current facility), or entirely new product types such as adding invoice financing alongside an existing term loan. We'll assess your current repayment obligations and identify what additional headroom you have.

The Enterprise Financing Scheme (EFS) is administered by Enterprise Singapore. Under EFS, the government co-shares the default risk of qualifying SME loans with participating banks. That is typically 50% for established businesses and 70% for young enterprises under 5 years old. The most popular EFS product is the EFS Working Capital Loan, which provides up to $500,000 with tenure up to 5 years.

Most banks require a minimum of 1 year of operating history for standard SME loans. Under EFS schemes, some lenders accept businesses as young as 6 months. For alternative lenders on our panel, the minimum can be as low as 6 months. Your annual revenue, cash flow history, and directors' personal credit also factor into eligibility.

Yes, and this is specifically where KAPVOY Advisory adds the most value. A rejection from DBS, OCBC, or UOB does not mean you do not qualify. It means that bank was not the right fit for your profile. Singapore has 30+ active lenders with completely different criteria. We review exactly why you were declined and identify lenders whose credit appetite matches your actual profile.

Invoice financing lets you turn unpaid customer invoices into immediate cash. Say your client owes you $100,000 but has 60-day payment terms. An invoice financing provider advances you $85,000–$90,000 immediately against that invoice. When your client pays at day 60, the provider takes their advance back plus interest; you receive the balance. Approval is based primarily on your clients' creditworthiness, not yours.

Banks assess both the business and the directors. For the business: minimum 1 year of operating history, consistent revenue (typically $300K+ annual turnover for unsecured loans), positive net worth, and no recent CCJs or winding-up notices. For directors: personal CBS credit score (ideally above 1844), no undischarged bankruptcy, and no adverse court judgments. Banks also look at the industry. Food and beverage and retail face higher scrutiny than professional services or construction with government contracts.

For most Singapore SME loans, including EFS Working Capital Loans, yes: a personal guarantee (PG) from the majority shareholder or managing director is required. The PG makes directors personally liable if the company defaults. This is standard across all major banks. Some alternative lenders may waive PG requirements for businesses with strong cash flow or secured collateral, but this is the exception rather than the rule.

It depends on the product. EFS Working Capital Loan: up to S$500,000 (aggregate across all participating banks). EFS Fixed Assets Loan: up to S$30 million. Standard bank term loan: up to S$20 million for well-established businesses. Invoice financing: up to 90% of outstanding invoice value with no hard cap. The amount you qualify for is driven by your annual revenue, existing loan obligations, and the lender's credit assessment, not just the product maximum.

Yes, though the options are narrower. Major banks generally prefer Pte Ltd companies. Sole proprietors and partnerships can access financing through selected alternative lenders on our panel, particularly for invoice financing and short-term working capital. The loan quantum is typically lower, and personal credit and income weigh more heavily in the assessment. If you're planning to grow, converting to a Pte Ltd structure is worth considering. It opens substantially more lending options.

As of 2026, EFS participating financial institutions include DBS, OCBC, UOB, Standard Chartered, Maybank, CIMB, RHB, HSBC, Bank of China, ANEXT Bank, Funding Societies, and several others, 16+ in total. Not all banks offer every EFS product. For example, only certain banks offer EFS Fixed Assets Loans for large machinery purchases. KAPVOY Advisory selects which participating banks to approach based on your industry, loan amount, and business profile.

Yes, but the aggregate cap still applies. The maximum EFS Working Capital Loan outstanding across all participating banks at any one time is S$500,000 per borrower group. If you already have S$300,000 with DBS, you can only borrow up to S$200,000 more at another EFS bank. Applying through multiple banks simultaneously is common and does not violate EFS rules, but lenders will see your existing EFS exposure during the credit check.

Possibly. Under EFS, businesses incorporated within the past 5 years qualify as 'young enterprises' and benefit from a higher 70% government risk-share. The minimum operating period is not formally fixed at 12 months for EFS. Some participating banks accept applications from businesses as young as 6 months, particularly if your revenue is already meaningful and directors have strong personal credit. We assess this case-by-case.

Under EFS, the government (via Enterprise Singapore) co-shares the default risk with the lending bank. For established businesses: 50% risk-share. For young enterprises (incorporated within past 5 years with at least 1 employee): 70% risk-share. This does not directly change your interest rate or repayment terms. It makes banks willing to lend to businesses they would otherwise consider too risky. The practical benefit to you is higher approval rates and access to larger loan amounts.

EFS eligibility requires: (1) business entity registered and operating in Singapore; (2) minimum 30% local shareholding; (3) group annual revenue ≤S$500 million or group employment ≤200 employees. Most Singapore-registered SMEs qualify. Businesses in certain restricted sectors (gambling, firearms, etc.) are excluded. If you're unsure whether your structure or shareholding qualifies, particularly if you have foreign co-founders, KAPVOY Advisory reviews your ACRA profile and confirms eligibility before any application is submitted.

SORA (Singapore Overnight Rate Average) is MAS's benchmark interest rate for SGD lending. SORA-pegged mortgages float with the overnight interbank rate. Fixed rate packages lock in your rate for 2–5 years. Choose SORA if you expect rates to fall or plan to refinance within 2 years. Choose fixed if you prefer payment certainty. KAPVOY Advisory models both scenarios for your specific loan quantum before recommending.

Yes, with conditions. For private residential property, foreigners can obtain a mortgage from Singapore banks, though LTV is typically capped at 75% for the first property. Additional Buyer's Stamp Duty (ABSD) of 60% applies for foreigners purchasing residential property. For commercial property, there is no ABSD for foreigners, making commercial property loans considerably more accessible.

Equity release is worth considering if your property has appreciated significantly and you need working capital or want to fund a business opportunity. You unlock a portion of your property's value, typically up to 80% LTV, without selling. It works best when you need more than $500K (beyond EFS limits), or when your business doesn't have the revenue profile to qualify for an unsecured SME loan.

TDSR (Total Debt Servicing Ratio) is an MAS regulation capping your total monthly debt obligations at 55% of your gross monthly income. It includes all loans: mortgage, car loan, credit card minimum payments, existing business loans where you have provided a personal guarantee. For example, if you earn $15,000/month, your total monthly debt payments across all facilities cannot exceed $8,250. TDSR is assessed at the time of loan application. KAPVOY Advisory works yours out before submission so there are no surprises.

For Singapore-registered companies purchasing commercial or industrial property, banks typically lend up to 80% LTV (loan-to-value). For individuals purchasing commercial property, LTV is generally 55–70% depending on the bank, property type, and your income profile. Loan tenure for commercial property is usually capped at 30 years or up to age 65 of the youngest borrower. TDSR applies to individual borrowers but not to companies purchasing in a corporate name.

Yes. You can refinance from an HDB concessionary loan to a bank mortgage at any time. There is no lock-in period for HDB loans. The main consideration is that once you refinance to a bank, you cannot switch back to an HDB loan. The decision is one-way. Whether refinancing makes financial sense depends on current bank rates vs. your HDB rate of 2.6%, your remaining tenure, and the valuation gap. KAPVOY Advisory models this for you before recommending.

For HDB concessionary loans: your CPF OA savings are used first before any cash down payment. For bank loans: you can still use CPF OA for the down payment and monthly instalments, but the rules on how much CPF can be used depend on the property's remaining lease and the borrower's age. With a bank loan on a leasehold property with less than 60 years remaining, CPF usage may be restricted or capped. KAPVOY Advisory walks through the CPF implications for your specific property before you commit.

It depends on current rates and your circumstances. Bank SORA packages have been at 3.0–3.5% in 2025–2026, which means HDB's 2.6% is competitive right now. Fixed-rate bank packages are similarly priced. The main reason to consider refinancing is if you want flexibility (HDB loans cannot be partially prepaid freely), if your property has appreciated and you want to access equity, or if you anticipate rates falling significantly. We will run the numbers honestly. If the HDB loan is the better deal right now, we will tell you.

For a standard SME loan application: NRIC or passport copies for all directors and shareholders with ≥20% stake; ACRA BizFile+ Business Profile; last 6–12 months of corporate bank statements; latest 2 years of financial statements or management accounts; NOA (Notice of Assessment) from IRAS for all directors. For the initial eligibility check, no documents are needed. Just your quiz answers.

Approval timeline depends on the product. EFS Working Capital Loans: 3–5 business days for well-prepared applications. Standard bank term loans: 5–10 business days. Alternative lenders: 24–72 hours. Property loans: 10–21 days. The biggest variable is document completeness. Applications with everything submitted on day one consistently close faster.

Banks conduct four checks: (1) CBS personal credit bureau report for each director, looking for defaults, outstanding judgments, and repayment history; (2) ACRA search: business structure, registered charges, any winding-up applications; (3) bank statement analysis: average daily balance, salary credits, incoming revenue, outgoing loan repayments; (4) financial statement review: net profit trend, current ratio, gearing. For EFS loans, banks also check that the borrower group hasn't exceeded the EFS aggregate cap.

Every formal credit application triggers a hard inquiry on the CBS (Credit Bureau Singapore) report of the directors who sign the application. Multiple hard inquiries within a short period can reduce your CBS score. KAPVOY Advisory manages this by running a soft pre-assessment first and only submitting formal applications to lenders with a high probability of approval. We do not shotgun applications. If your credit situation needs improvement before applying, we tell you upfront.

After disbursement, KAPVOY Advisory's fee is collected (3–5% of the approved loan amount). Your loan agreement with the bank governs repayment: monthly instalments over the agreed tenure. KAPVOY Advisory remains available if you have questions about your facility, need to explore a top-up later, or want to refinance when your lock-in period ends. We also reach out proactively if better market rates emerge during your tenure.