Business Credit Counselling

All appointments with CCS Financial Counsellors are pre-scheduled in advance.

To better understand your business, assess your firm’s financial position, ascertain your personal liabilities, and provide you with holistic debt advice, our Business Financial Counsellors will require relevant supporting documents beforehand to facilitate discussions.

The session will also help you as a business owner, to have a comprehensive understanding of your firm’s financial condition and explore plausible solutions to address your firm’s debt servicing challenges.

 

1.   Sole Proprietors and Partnerships (SPP) Scheme.

The SPP Scheme is a debt relief plan for viable businesses with extended payment tenure and an interest rate cap of 7% p.a.. CCS will assess your firm’s financial position and explore with you on your options for repayment.

Assuming your firm meets the criteria, at your request, CCS will facilitate a SPP Scheme on your behalf, provided your business is able to show proof of payment capability.

 

2.   Enterprise Debt Management Programme (EDMP).

An EDMP is a debt repayment plan for a business that has ceased or in the process of ceasing operations. If you have decided to close down or wind up your business, and there are remaining unsecured business debts, CCS will assess your financial position and explore with you on your options for repayment.

Assuming your firm meets the criteria, at your request, an EDMP will be put up on your behalf, provided you are able to show proof of payment capability.

 

3.   Consumer Debt Management Programme (DMP).

A CDMP is a debt relief plan for individuals with unsecured personal debts. CCS will assess your financial position and explore with you on your options for repayment.

Assuming you are suitable, at your request, a CDMP will be put up on your behalf, provided you are able to show proof of payment capability.

To Arrange for an Appointment

List of Supporting Document Required

You must duly complete the Business Credit Counselling Request Package and submit it together with the following supporting documents:

1.   Trading and Profit & Loss Account for the past two FYs and year-to-date.

2.   Balance Sheet for the two past FYs and year-to-date.

3.   Bank Account Statements (main operating current accounts; from January 2020 onward).

4.   Letter of Offers for your banking facilities.

5.   Term Loan Statement (latest).

6.   Extract of Business Registration with ACRA.

7.   Income Tax Notice of Assessment for the past two Years of Assessment of Sole Propriertor / All Partners.

8.   Credit Bureau Singapore’s (CBS) Credit Report of Sole Proprietor / All Partners. Click here to purchase.

9.  Singapore Commercial Credit Bureau Pte Ltd Enhanced Commercial Enquiry Report. Click here to purchase or purchase from CCS office at a special price of $10.70.

Submitting Your Documents

Timely submission of the required documents and information is important for CCS to provide you with comprehensive and timely assistance within the stipulated time frame that has been established with the lenders.

You may send the completed Business Credit Counselling Request Package together with the relevant supporting documents as follows:

By post / by hand

Credit Counselling Singapore (CCS)
51 Cuppage Road
#07-06
Singapore 229469

If you prefer to submit your documents by hand, our operating hours are as follows

Mondays to Fridays (except public holidays)
9.00 am to 6.00 pm

If the office is closed, please drop your package into our mail dropbox located next to our main door.

Fees

Currently, there are no fees payable for attending a business credit counselling session(s) for assessment or working out a repayment arrangement under the SPP Scheme, Consumer or Enterprise Debt Management Programmes.