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  • Frequently Asked Questions (FAQs)

Overview

Note:

The EFS-WCL will be enhanced from 1 October 2022 to 31 March 2023, with the parameters as listed below.


SME Working Capital
 

Finance operational cashflow needs.

Maximum Loan Quantum
S$300,000 / borrower

From 1 October 2022 – 31 March 2023: S$500,000 / Borrower


Note: Borrowers are subject to an overall borrower group limit of S$5 million for EFS-WCL. In addition, there is an overall loan exposure limit of S$50 million per borrower group1 across all facilities.
Maximum Repayment Period
5 years
ESG Risk-Share
Risk share is at 50%. Young enterprises2 may receive a risk share of 70%.
The borrower is responsible to repay 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 the risk-share.
Interest Rate
Subject to PFIs’ assessment of risks involved.

 

1 Borrower Group consists of the following:
a. Borrower; and
b. Corporate shareholders holding more than 50% at all levels up; and.
c. Subsidiaries where the Applicant company holds more than 50% shareholdings and subsequent subsidiaries at all levels down
d. Subsidiaries where the Applicant’s Ultimate Parent Company holds more than 50% shareholdings and their subsidiaries at all level down
2 Young enterprises refer to firms formed within the past 5 years with at least 1 employee, and more than 50% equity owned by individuals.
Eligibility
 

SME should meet the following critera:

  1. Is a business entity3, registered and physically present in Singapore
  2. Has at least 30% local equity held directly or indirectly by Singaporean(s) and/or Singapore PR(s), determined by the ultimate individual ownership
  3. Has Group Annual Sales Turnover of not more than S$500 million
  4. For "SME Working Capital", the SME definition refers to Group revenue of up to S$100 million or maximum employment size of 200 employees
3 ACRA registered Sole Proprietorship, Partnership, Limited Liability Partnerships and Companies are eligible to apply for the enhanced SME Working Capital Loan. Approval of the loan is subject to the PFI's assessment.
FAQ
 

Click here for frequently asked questions on EFS. 

 

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(Last updated on 29 July 2022 15:39:08)