Frequently Asked Questions (FAQs)

1. When is the Enterprise Financing Scheme open for application?
 

The programme was launched on 29 October 2019. Enterprises can approach the PFIs to apply.

2. Can businesses apply for the Enterprise Financing Scheme multiple times with different banks?
 

Yes. Enterprises can approach the participating financial institutions to apply.

3. How will this affect existing loans under the current schemes?
 

There will be no changes to approved loans. The existing loans will remain valid for the tenure of the loan. The current schemes will be subsumed under the new Enterprise Financing Scheme (i.e. retired).

4. How is Enterprise Singapore’s Enterprise Financing Scheme different from previous financing schemes managed by SPRING and IE Singapore?
 
  • The streamlined Enterprise Financing Scheme will have common eligibility criteria and application platform to simplify application process for businesses
  • Enhanced support for young enterprises (incorporated within the last 5 years from date of scheme application)
  • Enhanced support for markets with Standard & Poor’s (S&P) ratings of below BBB- or are not rated
5. Are there any specific industries that the Enterprise Financing Scheme is targeted at?
 

No, the Enterprise Financing Scheme is designed to support companies across all industries throughout all stages of growth.

6. Does Enterprise Financing Scheme help newly established businesses secure financing?
 

Yes. To help young companies*, Enterprise Financing Scheme will provide government risk sharing of up to 70% to participating financial institutions (PFIs). This aims to help catalyse participating financial institutions’ lending to these companies.

*Young companies refer to firms incorporated within the last 5 years.