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.
From 1 April 2021, the EFS-WCL will return to its original parameters, with the maximum loan quantum of S$300,000 and risk share of 50% and 70% for young companies.
Finance operational cashflow needs.
Click here for frequently asked questions on EFS SME Working Capital Loan.
Click here for frequently asked questions on EFS.