CIMB Singapore has launched the CIMB Founders Card, a personal credit card tailored for sole proprietors and small and medium-sized enterprise (SME) owners, a segment that makes up 99% of Singapore businesses and employing about 70% of the workforce.

The card aims to tackle financing challenges entrepreneurs face, such as irregular income, limited credit histories and a lack of collateral. Unlike typical consumer credit cards, it offers features for business needs, including instant cash access and up to 114 days of interest-free credit. Working capital loans are available with a 1% processing fee and an effective interest rate of up to 4.47% per year.

Cardholders also enjoy zero foreign exchange fees on international transactions, free access to over 1,300 airport lounges via Mastercard Travel Pass and travel insurance coverage of up to S$1 million. Additional benefits include discounted access to co-working spaces and savings through Mastercard’s Easy Savings Specials program, which features deals from providers such as Google Workspace, Xero, Salesforce and DocuSign.

CIMB is also running a campaign offering selected SMEs free bus stop advertising space to promote their businesses.

“The CIMB Founders Card is a meaningful step in giving entrepreneurs financial flexibility and easier access to capital,” said Merlyn Tsai, head of consumer banking and digital at CIMB Singapore. Deborah Heng, Mastercard’s Singapore country manager, added that the partnership aims to equip SMEs with “the financial tools, digital solutions and business travel support they need to thrive.”