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Benefit.X LoanLite

Up to S$20,000 | Lower interest of 1.5% | For SMEs only

When scaling a business, extra funds can really make a difference. Benefit.X has partnered with GrabFinance to offer digital loan options tailored to your needs.

Existing customers keen on a digital loan can perform easy-apply in the Benefit.X App

At Benefit.X, we understand the struggles small businesses go through when applying for loans. Aside from the tedious paperwork and application procedures, the high interest rates may end up hindering growth. Without capital, a business is likely to stagnate. As the purpose of the Benefit.X Suite is to be a toolkit for scaling small businesses, this was an issue we had to address.

Hence, we have partnered with GrabFinance, the lending arm of Grab, to help you secure flexible and specialised loans with ease and at a favourable interest rate.

Download Benefit.X App here

Benefits

Personalised

We’ll get to know your business before offering funding that suits your needs.

Low Interest

Monthly interest rates from as low as 1.5%.

Exclusive Rates

Special rates for some Benefit.X Suite features.

Benefits

Personalised

We’ll get to know your business before offering funding that suits your needs.

Low Interest

Monthly interest rates from as low as 1.5%.

Exclusive Rate

Special rates for some Benefit.X Suite features.

Streamlining loan processes

Gone are the long processing times, every moment spent waiting is time wasted. As our valued customer, your company details such as claims made, leaves approved, and payroll generated etc. are already in our system if you are using our HRMS. This legitimizes your company as the data shows that you have proper structures in place and are a genuine business. Thus, this cuts down on GrabFinance’s approval time as less assessment needs to be done on your company.

Requirements

To be eligible for the loan, you must have an active Benefit.X account and fulfil the criteria provided by GrabFinance.

  1. Must be a Benefit.X customer
  2. Completed your KYC
  3. An active user of the Benefit.X Corporate Card
  1. Limited liability partnership or company
  2. At least 30%+ >owned by Singaporean or PR
  3. Total of 200 staff or fewer
  4. Over 6 months in operation

Required Documents

  1. Colored NRICs of the Shareholders

  2. Colored Past 6 months Bank Statements of your business operating account – electronic version

  3. Colored Personal CBS Report of the shareholders (with majority shareholding > 50%) – electronic version *30 days validity at point of submission

  4. Colored Latest Notice of Assessment (IRAS) for the same shareholders (with majority shareholding > 50%) *Date of Assessment to be year 2019 onwards

  5. Latest year financials (if available)

Other Details

  • Credit limit up to SGD 20K only

  • Loan period runs for 3 months

  • 1-time upfront processing fee of 5%

  • 1.5% monthly interest

  • 1.5% Benefit.X Invoice Processing Fees (U.P. 3%)

  • More details will be shared by loan consultants if successful

Using Loan Capital

Upon approval, your loan will be disbursed through the Benefit.X platform. You can then allocate the funds to pay for the following:

Employee Salary

Rent

Software Subscriptions

Processing Invoices

Using Loan Capital

Upon approval, your loan will be disbursed through the Benefit.X platform. You can then allocate the funds to pay for the following:

Employee Salary

Rent

Software Subscriptions

Processing Invoices

Get Benefit.X Suite Today

Full features of Benefit.X Suite will be available
upon finishing both KYC and Deposit.

Get Benefit.X Suite Today

Full features of Benefit.X Suite will be available upon finishing both KYC and Deposit.