Many “slow approvals” are not caused by slow lenders. They are caused by incomplete submissions, outdated files, or documents that raise extra questions. A clear, complete application is the fastest path to a decision.
Core documents commonly requested
Exact requirements differ, but many SME financing applications in Singapore ask for:
Company details
- UEN and basic company profile information
- Director and ownership details (where relevant)
Financial performance
- Latest financial statements (audited if available)
- Recent management accounts if the last FY is old
- A simple explanation of any big changes in revenue or margin
Banking proof
- Operating bank statements (often the last 6 months)
- Clarification for large one-off transactions if present
Purpose support (when relevant)
- Invoices, purchase orders, or contracts
- A short write-up explaining use of funds and repayment source
The “hidden” items that prevent back-and-forth
These are rarely listed as “required,” but they speed things up:
- A short company overview (what you do, who you serve, how you get paid)
- Top customer concentration summary (high level, not complicated)
- Notes on seasonality (peak and off-peak periods)
- A simple list of existing facilities and monthly repayment amounts
Common mistakes that cause delays
Avoid these:
- Uploading screenshots instead of readable PDFs
- Missing pages in statements or reports
- Submitting files without names that indicate what they are
- Sharing personal bank statements when the operating account is requested
Key takeaway
Good documentation is not “extra admin.” It reduces uncertainty, reduces follow-up questions, and helps your financing move faster.
If you want a smoother application experience, apply for financing and we will tell you exactly what to submit based on your business type and needs.