CIMB credit card targets small-business owners

It offers 114 days interest-free period for working capital loans.

CIMB Bank Berhad’s Singapore branch has unveiled a credit card for sole proprietors and small-business owners, offering an additional channel for working-capital funding in a segment that often struggles to secure credit from traditional lenders.

The CIMB Founders Card broadens the type of documentation the bank accepts when evaluating applicants. Sole proprietors, for instance, may submit bank statements as part of income assessment—a shift meant to address gaps faced by entrepreneurs with irregular earnings or limited credit records.

“Sole proprietors and small and medium enterprises have always faced financing challenges due to irregular income patterns, limited credit histories, and lack of collateral, making traditional loans hard to access and alternative options costly,” Merlyn Tsai, CIMB Singapore’s head of consumer banking and digital, told Asian Banking & Finance.

Tsai said the product is built around a low entry threshold. Singaporeans, Singapore permanent residents, and Malaysians aged 21 to 70 may apply, subject to a minimum annual income of $23,000 (S$30,000) for sole proprietors, self-employed individuals, business owners, and independent contractors. All other applicants face a $38,380 (S$50,000) annual income requirement.

Early users have responded positively to the card’s extended interest-free periods—114 days for working-capital drawdowns and 113 days for retail spending.

“Several early adopters have shared how the card has helped them smooth out seasonal expenses, accelerate inventory purchases, and fund growth initiatives without disrupting day-to-day liquidity,” she said. 

The bank is not releasing uptake figures but said adoption has been strong, with applications coming from food and beverage operators, online retailers, professional services firms, and emerging consumer brands.

Customers can draw working capital directly from their credit limit through the CIMB Clicks mobile app without additional paperwork.

The card also targets business travelers with perks typically found in premium consumer products. Cardholders gain complimentary access to more than 1,300 airport lounges worldwide and travel insurance coverage of as much as $768,00 (S$1m).

Tsai said these benefits aim to support entrepreneurs who travel frequently to meet clients, suppliers, or explore overseas expansion.

Other features include zero foreign-exchange fees, discounted access to co-working spaces, and deals on productivity software and hotels.

Tsai said the bank plans to introduce more “founder-focused” offerings, including curated business and travel perks for cardholders and their families.

“And we will continue refining and enhancing the card, so it remains a relevant and trusted companion for founders at every stage of their journey,” she said, adding that demand is expected to grow as more entrepreneurs become familiar with the product’s features.