Multiply Capital SME Loan Review

Multiply Capital is an online lender that offers a working capital loan, an invoice financing loan and an enterprise finance scheme at competitively low interest rates.
Multiply Capital x-Loan
Multiply Capital x-Loan

Multiply Capital SME Loan Review

Multiply Capital is an online lender that offers a working capital loan, an invoice financing loan and an enterprise finance scheme at competitively low interest rates.


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  • Low interest rates
  • Good for SMEs with more than one loan


  • Not the quickest financing for immediate needs
Multiply Capital x-Loan
Multiply Capital x-Loan

Multiply Capital is Closing Down Their Business.

Multiply Capital is an online lender that provides SMEs with capital quickly to finance both small and large operations. Small businesses can take out a loan of up to S$50,000 for 12 months or less, get up to 90% on an invoice of S$100,000 within three days, or take out a loan up to S$1million for five years. With inexpensive administrative fees, flexible repayment arrangements, and low monthly interest rates, this is a unique short-term loan for companies looking for extra capital.

Summary of Multiply Capital's SME Loans
Low interest rates for loans
Up to 90% of total invoice
Flexible repayment schedules
Holistic application process that takes into account your business's growth potential

Table of Contents

What Makes Multiply Capital Stand Out to SMEs

Unlike other online lenders that are typically P2P or crowdfunding lenders, Multiply Capital is a subsidiary of IFS Capital Limited group. Because of this, they fully own the capital they lend and are thus able to to quickly process and disburse loans at a reasonable price. They offer several types of financing options, including a working capital loan, invoice financing and factoring, and a joint-Singaporean government loan. SMEs looking to borrow money should compare Multiply's two products based on how much they need, what they're willing to pay in interest and the time frame they plan to pay the loan back.

Their primary SME loan, the x-Loan, boasts some of the lowest interest rates for SMEs in the market. Interest rates are as low as 0.59%-1.5% per month, compared to other firms who charge 0.80% - 5% monthly or 7.75%-18% per annum. Within three days, you can be lent up to S$50,000 for 12 months or less, making x-Loan a strong choice for companies looking to fund short-term projects or daily operations.

Besides taking out a business loan, customers can use Multiply Capital's x-Invoice platform, which gives companies an early payment on outstanding invoices. With a flat fee starting at 1%, which is lower than most online lenders, you will be returned up to 90% of your invoice value, up to S$100,000 for 3 months. This financing option allows you to focus on growing the business rather than chasing up on payments.

Highlights of Multiply Capital Products

Loans AmountS$500 to S$50,000Up to 90% on S$100,000
Interest Rates.06%-1.5% p.m.N/A
Processing Fee1%.07%
Loan tenorUp to 12 monthsUp to 3 months
EligibilityAt least 1 year operating historyAt least 6 months operating history

Other Charges and Fees

Like most lending institutions, Multiply Capital charges a processing fee to take out the loan. For their x-Loan, it costs 1% of the amount you intend to borrow; for the x-Invoice, it is 0.7% of the invoice. With all their products, furthermore, Multiply Capital offers flexible weekly or monthly repayment schedules where you can pay back more than the sum required at no extra cost. Paying back is easy too, as you can quickly do a bank transfer or GIRO for weekly or monthly payments.

Who Can Borrow: Eligibility Criteria

To apply for the x-Loan, your firm must have at least one year of operating history. For the x-Invoice, however, the requirement is less—at 6 months.

Since there is no collateral or business history collected, this loan is a good option for fairly new SMEs. Multiply Capital will consider both the economic history of your company and its projected growth, meaning they can lend your business money if you are currently making a loss but show a promising future. Moreover, businesses can take out a loan from Multiply Capital whilst having other other loans from different providers. Overall, they will assess your firm's credit score and potential growth prior to making a final decision.

Multiply Capital SME Loans - Small Business Financing Requirements

Business Requirement6 months bank statements3 months bank statements
Operational Requirement1 year and 2 Singaporean personal guarantors6 months and at least 1 Singaporean personal guarantor
GuarantorCopy of NRIC/Passport for Key StakeholderCopy of NRIC/Passport for Key Stakeholder

How to Apply: Application Process

Multiply Capital x-Loan
Multiply Capital x-Loan
Consider this if your business requires a small business loan
  • Max Financing
    • S$50,000
    • Fees
      • 1%
      • Interest Rate
        • 0.6%-1.5% p.m.
        • Eligibility
          • 6 months operating history; at least one Singporean PG

          You can easily apply online by filling out a preliminary contact form. Here, they will ask you for your annual sales, the type of loan you would like, and any other relevant details for your application.

          Once you submit an application, it will be approved or rejected within 1-2 business days. Following that, you will meet with a representative to obtain your physical signature on the GIRO form. The loan will be disbursed into your account by the next day, which makes the total process from application to disbursement around 3 business days.

          Multiply Capital's SME Loans - Required Documents

          • 6 months of monthly bank statements
          • CBS and NOA (2 years) of 2 personal guarantors
          • Photocopy of Directors/Owners NRIC (Passport for PRs/foreigners)
          • M&A: Accept Original, CTC and scanned copy

          Multiply Capital offers small, short-term loans at an affordable rate for SMEs in Singapore. For those looking for either a loan larger than S$50,000 or higher amounts from invoice financing, we wrote a guide to the have best SME loans for small businesses and start-ups in Singapore.

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          Anya Wasserman

          Anya is a Research Analyst for ValueChampion who focuses on loans and investments in Singapore. Previously, she assisted global consultancies, hedge funds and private equities with primary research at a high-growth fin-tech based in London. A graduate of the University of Oxford and King's College London, Anya is currently interested in applying quantitative research to help consumers make better financial decisions.

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