Minterest SME Loan Review: A Good Choice for Startups?

Minterest offers competitive short-term business loans.
Minterest - Working Capital Solutions
Minterest - Working Capital Solutions

Minterest SME Loan Review: A Good Choice for Startups?

Minterest offers competitive short-term business loans.


ValueChampion Rating ValueChampion Icon


  • Great for startups
  • Collateral-free


  • Not the best rates for loan tenures more than 1 year
Minterest - Working Capital Solutions
Minterest - Working Capital Solutions

Minterest's, crowdfunded business financing options are among the best available in Singapore. In particular, the lender combines competitive SME loan rates with flexible eligibility requirements. Therefore, Minterest is a great fit for startups seeking affordable business loans.

Summary of Minterest's Small Business Loans
Competitive Interest Rates: 8-18% p.a.
Flexible Eligibility Requirements
Business Loans of S$10,000 to S$3 million

Table of Contents

What Makes Minterest Stand Out to SMEs

Minterest is one of the best small business lenders in Singapore. The crowdfunding platform has flexible eligibility requirements and reviews each loan applicant's qualifications individually. This can be especially helpful for startups and other businesses with short operational histories. For instance, most lenders require that businesses have at least 2 years of operational history and a certain amount of annual revenue. It also offers a wide range of funding amounts (S$10,000 to S$3 million).

Highlights of Minterest SME Loans

Small Business LoanInvoice Financing
Interest Rates8-18% p.a.8-18% p.a.
Processing Fee2-6%2%
Administrative FeeN/AUnknown

Some drawbacks of Minterest's platform include that it does not offer business loans of longer than one year and it does not disburse cash as quickly as other lenders. However, its competitive business term loan interest rates (8-18% p.a.) make it worth considering.

Other Charges and Fees

Minterest charges a processing fee of 2-6% of the total approved loan amount. This is similar to other business lenders in Singapore, though 6% is higher than most of its competitors. For invoice financing, Minterest charges a processing fee and an administrative fee, although it does not publish these rates on its website.

Who Can Borrow: Eligibility Criteria

Minterest has some of the most flexible requirements for small business loan applicants. The lender assesses each entity on a case-by-case basis, which makes it a great option for startups and other relatively new businesses that find it difficult to obtain SME loans from other lenders. Additionally, Minterest will even consider borrowers with foreign ownership, which is rare among business lenders in Singapore. However, Minterest does require that prospective borrowers have a personal guarantor and are registered with ACRA as companies or limited liability partnerships. Also, those seeking invoice financing must have at least S$250,000 in annual revenue.

Minterest SME Loans - Small Business Financing Requirements

Small Business LoanInvoice Financing
Business RequirementACRA Company or LLPACRA Company of LLP
Operational RequirementN/A1 year of operation, 6 months with invoiced customer
GuarantorPersonal GuarantorN/A

How to Apply: Application Process

Minterest - Working Capital Solutions
Minterest - Working Capital Solutions
Consider this if your new business requires a large business loan
  • Max Financing
    • S$5,000,000
    • Fees
      • 2 - 6 % of the amount raised
      • Interest Rate
        • 6% – 15% p.a.
        • Eligibility
          • Companies and LLPs set up in Singapore. Identifiable Cashflows. In operations for more than 1 year. Minimum annual turnover of S$500,000.

          To apply for small business financing from Minterest, click on "Learn More" on this page. Following its brief application process, Minterest sets up meetings with loan applicants at their business location. Qualified applicants can receive funds as soon as 10 days after applying.

          Minterest SME Loans - Required Documents

          • ACRA Business Profile
          • Memorandum & Articles of Association
          • Last 2 years Financial Statements (Management Accounts if applicable)

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          Stephen Lee

          Stephen Lee is a Senior Research Analyst at ValueChampion, specializing in insurance. He holds a Bachelor of Arts degree in International Studies from the University of Washington, and his prior work experience include risk management and underwriting for professional liability and specialty insurance at Victor Insurance. Additionally, Stephen is a former US Peace Corps Volunteer in Myanmar (serving between 2018-2020), where he continues to provide business development consulting services to HR companies in Asia Pacific.