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Elevate for Business: How SMEs Can Improve Cash Flow Management In 2024

Businesses can get interest-free credit for up to 55 days.

Elevate for Business, interest-free cashback card

This article was written in collaboration with Elevate. All views expressed in this article are the independent opinion of based on our research. is not liable for any financial losses that may arise from any transactions and readers are encouraged to do their own due diligence. You can view our full editorial policy here.

As consumers, many of us simply whip out our credit cards to pay for both daily and higher-ticket expenses.

Arguably, such access to credit is even more beneficial to businesses. Apart from being a convenient way to make payments, it also provides interest-free credit for nearly 2 months – potentially strengthening cash flow management and reducing borrowing costs.

In this article, we will explore how getting access to a flexible line of credit will benefit your business.

Elevate Credit Line: A Flexible Credit Line That Rewards You When You Spend Via Elevate Business Cashback Card

Jointly built by CardUp and Funding Societies, Elevate is an all-in-one app that allows SMEs to effortlessly manage and pay expenses, receive payments, and borrow funds in one seamless digital platform.

One of the many benefits is its flexible credit line of up to S$20,000*.  It gives your business instant access to credit for up to 55 days interest-free (think of this as similar to how credit card companies extend a line of credit to consumers). This means you do not pay any fees or interest charges if you repay this expense before the due date.

As a revolving credit facility, every time you repay, your credit line automatically renews to the credit limit, and you can borrow against it repeatedly. There’s no need to re-apply or submit further paperwork.

Furthermore, you can draw down this credit line in any amount – i.e. you don’t have to round up or hit any minimum amount each time you use the credit facility. You are not forced to take more credit than you need.

Alternatively, you can defer the repayment date beyond the interest-free days by simply paying a low interest rate of 2.5% a month on the outstanding amount. This line of credit remains flexible, and your business can choose to repay this amount at any time.

The other benefit is that the credit line gives you the freedom to choose how to use the funds. You can either transfer the credit line into your bank account, in any amount, or spend it on the virtual Elevate Business Cashback Card that comes with the account.

If you choose to use the card, you enjoy the added benefit of earning 1% unlimited cashback on local and overseas transactions. Either way, the choice is always yours and there aren’t any transaction fees.

Elevate flexible and interest-free money transfers

Source:  Elevate

(A solution jointly built by CardUp and Funding Societies)

Even if you don’t need a credit line right now, having access to one can reduce unexpected cash flow anxieties for upcoming payments. You can even use it to negotiate upfront or early payment discounts with vendors.

You can respond swiftly to both market opportunities and operational needs, all while earning rewards when you pay via Elevate Business Cashback Card.

For example, an e-commerce retailer may need access to credit to maintain their online store. They likely need to pay monthly platform hosting fees as well as run ads to advertise their products and/or solutions. Whether they’re a fledgling business without the ability to maintain a large inventory, or a growing business that is cash-strapped and needs more inventory, none of it is possible without access to funding.

What’s more, some existing clients may not be paying them on time so their cash inflow (accounts receivables) is negatively impacting their cash outflow (accounts payable).

The Elevate platform solves these challenges, and the retailer can rest assured knowing they have flexible and on-demand access to capital for their business, interest-free for 55 days.

It takes just 2 minutes to apply via Myinfo Business and as fast as 1 working day* to get approved for credit. Once approved, you can activate the Elevate Business Cashback Card and pair it with Google Pay for a seamless offline experience.

Elevate Your Business Financial Management

Your business is eligible if:

1. You are at least 21 years of age

2. Your company (‘The Applicant’) must be Singapore registered business entities, Private limited companies or Limited Liability Partnerships (LLP)

3. You must be a registered partner or company director duly authorised to make this application on behalf of The Applicant

You must be a resident of Singapore with a valid Notice of Assessment

*Note: Applications are subject to approval, with approval speed being subject to credit assessment

Alongside the Elevate Business Cashback Card, you also unlock a multitude of other free cash flow management features within the app–

  • Elevate Account to safeguard your funds and reconcile payments automatically
  • Elevate Receivables to enable credit card payments from your customers, with no fees
  • Elevate Payables to give you free transfers, both locally and internationally, and earn 1% cashback (when you pay with the Elevate Business Cashback Card) without any caps
  • Plus, the easy-to-use dashboard makes it simple to monitor spending patterns and manage expenses better.

Elevate for Business is an all-in-one cash flow management tool that allows you to access credit, track and manage cash flow, and get paid faster. Get started for free with Elevate!


Disclaimer: Elevate comprises of six (6) main products offered by CardUp Pte Ltd, with some products being provided in partnership with third parties who will provide the regulated services under each product. CardUp is a major payment institution licence holder under the Payment Services Act 2019. Click here to learn more.

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