SME Working Capital

Finance operational cashflow needs

Note: As announced at Solidarity Budget 2020, the Enterprise Financing Scheme – SME Working Capital Loan (EFS-WCL) is enhanced to help SMEs with their working capital needs. The maximum loan quantum was raised from $300,000 to $1 million. Risk-share was also increased to 90% (from 50% and 70% for young companies) for new applications initiated from 8 April 2020 until 31 March 2021.

Enterprises under the Enhanced EFS-WCL may apply for a deferral of principal repayment to help them reduce their monthly cash outflow, subject to assessment by the PFIs.

Grant Amount

Maximum Loan Amount: S$1 million / borrower

Note: Overall loan exposure limit of S$50 million per borrower group across all areas.

Maximum Repayment Period: 5 years

Interest rate: Subject to the PFIs’ assessments of risks involved.

Note: As announced at Solidarity Budget 2020, the Enterprise Financing Scheme – SME Working Capital Loan (EFS-WCL) is enhanced to help SMEs with their working capital needs. The maximum loan quantum was raised from $300,000 to $1 million. Risk-share was also increased to 90% (from 50% and 70% for young companies) for new applications initiated from 8 April 2020 until 31 March 2021.

Enterprises under the Enhanced EFS-WCL may apply for up to 1 year deferral of principal repayment to help manage their debt, subject to assessment by the PFIs.

Eligibility

• Be a business entity that is registered and physically present in Singapore

• At least 30% local equity held directly or indirectly by Singaporean(s) and/or Singapore PR(s), determined by the ultimate individual ownership

• Maximum Borrower Group revenue cap of S$500 million for all enterprises

• For “SME Working Capital”, the SME definition refers to Group revenue of up to S$100 million or maximum employment of 200 employees

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