Enterprise Financing Scheme – Mergers & Acquisitions

For enterprises looking to scale and expand, including those venturing into complementary businesses and emerging sectors.

Enterprise Financing Scheme – Mergers and Acquisitions Loan has been enhanced until 31 March 2026, to include domestic M&A activities.

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 Note: Borrowers are subject to an overall borrower group limit of S$50 million for EFS-M&A. In addition, there is an overall loan exposure limit of S$50 million per borrower group across all facilities.
Maximum Repayment Period	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

¹ A Borrower Group consists of the following:

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

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.

³ Challenged markets refer to countries with an S&P rating of BB+ and below, including non-rated countries.

Eligibility

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