The programme was launched on 29 October 2019. Enterprises can approach the PFIs to apply.
Yes. Enterprises can approach the participating financial institutions (PFIs) to apply. Contact details of the PFIs can be found in the “Apply” tab of each facilities.
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).
No, the Enterprise Financing Scheme is designed to support companies across all industries throughout all stages of growth.
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.
No. The borrower is responsible for repayment of 100% of the loan amount. When defaults occur, the Participating Financial Institutions (PFIs) are obligated to follow their standard commercial recovery procedure, including the realisation of security, before they can make a claim against Enterprise Singapore for the unrecovered amount in proportion to risk share percentage.