FINANCIAL SERVICES | Staff Reporter, Singapore

OCBC unveils $200,000 loans for small businesses

Businesses that have been operating for at least two years are eligible to apply.

OCBC launched the OCBC Business Revolving Short Term Loan, which offers funding of up to $0.2m to small and emerging businesses that have been operating for at least two years.

According to a press release, business owners can draw down, repay and redraw from this line of credit.

OCBC also said there is no early repayment fee.

In the 10 weeks since its full soft launch in November 2017, more than $6m in loans have been approved.

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