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Devise Singapore

Corporate Loan Application: What Banks Seek in Bank Statements

  • Writer: Rachel
    Rachel
  • Mar 26
  • 2 min read




"Wah! Business Loan Paperwork So Many - Here's How Not to Kena Reject Like Last Time"


Applying for a business loan in Singapore is like going on a first date - if your "look" (read: documents) is not swee swee, confirm kena ghosted.


And among all the paperwork, your **bank statements** are like your Tinder profile pic - must make lender *swipe right* one.


Here's how to make your financial "dating profile" damn attractive (no filter needed).


The 5 Must-Have Documents (Don't Anyhow Forget!)


  • ACRA Business Profile** - Your company's IC = like trying to enter Zouk with slippers.

  • Director's NOA (2 years)** - Prove you don't always *rojak* your finances.

  • Credit Report - CBS score rating better to be near AA. Below? Like your exam results - parents not happy.

  • Financial Statements - Your company's "report card". All F9? GG.

  • 6 Months Bank Statements - The "real MVP". This one banks stalk like auntie reading her neighbour's gossip.


Why Bank Statements So Important?


Banks check your statements like how your mum checks your phone - "damn detailed one".


They looking for:


1. Cash Flow Pattern

  • Got steady income like ERP gantry deductions? Good.

  • Always $3.50 left before payday? Aiyoh...

  • Pro tip: Use PayNow more. Cash transactions and Cheques = like invisible girlfriends - banks cannot see = don't believe you got them.


2. Financial Habits

  • Always midnight 11:59pm transfer salary? Banks know you *chao keng* last minute.

  • Got "Genting" or "SG Pools" transactions? Confirm kena eyebrow raise.


3. Emergency Funds

  • Balance should be at least 3x monthly expenses (or 6x loan amount).

  • If always $88.88 (for *huat* only), lender think you *bo lui liao*.


How to Make Your Bank Statements "Tok Kong"


  • Do Spring Cleaning

    • Check statements like checking your exam paper - find mistakes **before** teacher see.


  • Explain Your "Bad Months

    • "February drop because CNY all my clients *balik kampung*" = acceptable.

    • "I donno why" = automatic reject.


  • Show Off Your Glow-Up

    • Revenue up? Highlight like your new BMW.

    • Cut costs? Say you "streamlined operations" (not "no money, order less bubble tea").


  • Big Expenses? Give Context

    • Bought new machine? Say it's to "scale productivity" (not "Shopee 12.12 sale too shiok").


We at Devise: Your *Kaypoh* Friend Who Actually Helps


Why stress when you can:


  • Compare 30+ lenders in 5 mins - Like Foodpanda, but for money

  • Get matched even if credit score is chui - We know which lenders are more *chin chai*

  • One application, multiple offers - No need keep telling your sob story


 
 
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