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The Application Process

 

A. Application Form  >  B. Business Plan  >  C. Loan Assessment Interview

 

A.  Application Form                                           

Each applicant must start by completing and submitting the Application Form. The application form requires contact and employment details, personal financial details and an executive summary of the applicant’s business idea.

For interested applicant, please download and fill up the application form and mail it to:

 

Attn: Youth Business Singapore

Application (Entrepreneur)

9 Bishan Place #05-01

Junction 8 Office Tower

Singapore 579837

 

 

B.  Business Plan 

YBS will consider the feasibility of the applicant’s business idea based on the submitted executive summary in the application form (Annex A) and contact him/her within one week of the application before he/she proceeds to fill up a detailed business plan.

The Guided Business Plan (Annex B) is designed in such a way to give applicant a realistic picture of the issues to be considered in starting or growing a successful business. We encourage all applicants to take the time to consider each element in some detail when completing the forms.

The Guided Business Plan template requires the following details.  Some research is necessary in order to answer the questions in the respective fields. 

  • Section 1:  Business Project Management
  • Section 2:  Executive Summary & Project description
  • Section 3:  Business Market analysis
  • Section 4:  Business Marketing and sales
  • Section 5:  Assets
  • Section 6:  Financial Details

 

Once application has been submitted and you have received preliminary approval, please download and fill up the guided business plan to the best of your ability within one week after we have contacted you. Do attach the checklist together with the necessary documents and mail it to:

 

Attn:  Youth Business SIngapore

Business Plan

9 Bishan Place  #05-01

Junction 8 Office Tower

Singapore 579837

 

 

C.  Loan Assessment Interview

Once YBS has received the business plan and assessed its feasibility, we will arrange for an interview for the applicant with our selection panel. The Loan Assessment Interview will

  • assess the strengths of the applicant’s business plan and financial projects
  • verify the applicant is able to take on the repayment needs of the loan
  • assess applicants credit history
  • undertake company search to confirm ownership and structure, if an existing business

 

The result of the interview will be made within two weeks of the interview and the applicant will be notified by emails or phone calls regarding the outcome of his/her application.

 

Once the business plan is approved, you will become a YBS entrepreneur, receive up to $10,000 business loan and be entitled to mentoring, training, consulting, and networking opportunities from YBS.  Upon successful application, you will be matched with a mentor and will be required to sign a commitment letter with YBS and abide by all Terms & Conditions as declared by yourself in the application form.  Subsequently, eligible business plan for YES! Start-ups Scheme (see ANNEX C) will be fine-tuned and submitted to SPRING Singapore for additional grant.