Overview

Enterprise Financing Scheme (EFS)
 

Whether you are planning to develop new capabilities, create new products or expand your business footprint overseas, having access to the right financing is crucial to realise your growth ambitions.

With effect from 29 Oct 2019, Enterprise Singapore’s existing financing schemes will be streamlined into one umbrella scheme known as the Enterprise Financing Scheme (EFS). EFS will enable Singapore enterprises to access financing more readily throughout their various stages of growth.

It covers six areas to address enterprises’ financing needs. Enterprise Singapore will share the loan default risk in the event of enterprise insolvency with the Participating Financial Institutions.

  1. SME Working Capital Loan
    2. Finance daily operational cashflow needs.

  2. SME Fixed Assets Loan
    3. Finance the investment of domestic and overseas fixed assets.

  3. Venture Debt Loan
    4. Finance the growth of innovative enterprises using Venture Debt and Warrants.

  4. Trade Loan
    5. Finance trade needs.

  5. Project Loan
    6. Finance the fulfillment of secured overseas projects.

  6. Mergers & Acquisitions Loan
    7. Finance the acquisition of target enterprises with the intent of internationalisation.

A higher risk share will be considered for the following:

  1. Young companies within the past 5 years with at least 1 employee, and more than 50% equity owned by individuals; and
  2. Markets with S&P rating BB+ and below, including non-rated countries.

In light of COVID-19, the food & beverage, retail and tourism establishments are required to comply with the Safe Distancing measures to be eligible for EFS. For more information, please click here.

Who can apply?
 

To qualify for the EFS, you need to:

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

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

  • Have a Maximum Borrower Group revenue cap of S$500 million for all companies.

For “SME Working Capital” and “SME Fixed Assets”, SMEs refer to companies with a group revenue of S$100 million or maximum employment of 200 employees.