About this financing scheme

The Enterprise Financing Scheme – Mergers and Acquisitions Loan (EFS–M&A) finances the acquisition of local or overseas target enterprises.

Loan details

Maximum Loan Quantum S$50 million / borrower or borrower group¹

Maximum Repayment Peroid 5 years
EnterpriseSG Risk-share
  • Risk share is at 50%
  • Young enterprises² or enterprises operating in a challenged market³ may receive a risk share of 70%
  • Borrowers are responsible to repay 100% of the loan amount
  • When defaults occur, the participating Financial Institutions (FIs) are obligated to follow their standard commercial recovery procedure, including the realisation of security, before they can make a claim against EnterpriseSG for the unrecovered amount in proportion to the risk-share
Interest Rate Subject to participating FIs’ assessment of risks involved

  • Borrower
  • Corporate shareholders holding more than 50% at all levels up
  • Subsidiaries where the Applicant company holds more than 50% shareholdings and subsequent subsidiaries at all levels down
  • Subsidiaries where the Applicant’s Ultimate Parent Company holds more than 50% shareholdings and their subsidiaries at all levels down


  • Business entity registered and operating in Singapore
    • ACRA-registered Sole Proprietorships, Partnerships, Limited Liability Partnerships and Companies are eligible to apply
    • Approvals of loans are subject to the participating Financial Institution's assessment
  • Company has at least 30% local equity held directly or indirectly by Singaporean(s) and/or Singapore PR(s), determined by the ultimate individual ownership
  • Company has a Group Annual Sales Turnover not exceeding S$500 million

How to apply

Interested enterprises may approach any of the following participating Financial Institutions to apply for the loan (subject to banks’ credit approval).
Financial Institutions for EFS-M&A Contact Details
DBS Bank Ltd 1800 222 2200
The Hongkong and Shanghai Banking Corporation 1800 216 9008 / 6216 9008
IFS Capital Ltd 6270 7711
Maybank Singapore Ltd and Malayan Banking Berhad, Singapore Branch 1800 777 0022
Oversea-Chinese Banking Corporation Ltd (OCBC Bank) 6538 1111
Resona Merchant Bank Asia Ltd 6224 7155 / 6228 6124
United Overseas Bank Ltd 1800 2266 121
RHB Bank Berhad 1800 323 0100

Apply via the Enterprise Singapore Incentive Management System (ESIMS)

  • Access the Enterprise Singapore Incentive Management System (ESIMS) portal here.
  • Download and save the ESIMS Application guide here.

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