Enterprise Financing Scheme – SME Working Capital Loan

briefcase For Singapore enterprises to access financing for operational cashflow needs.

As announced in Budget 2024, the maximum loan quantum for Enterprise Financing Scheme – SME Working Capital Loan will be enhanced to S$500,000 permanently from 1 April 2024 onwards.

About this financing scheme

The Enterprise Financing Scheme - SME Working Capital Loan (EFS-WCL) helps SMEs finance their operational cashflow needs.

Loan details

Maximum Loan Quantum	S$500,000 / borrower From 1 October 2022 – 31 March 2024: 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
EnterpriseSG 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 (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 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.

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
For “SME Working Capital”, an SME is defined as having a Group revenue of up to S$100 million or a maximum employment size of 200 employees

How to apply

Interested enterprises may approach any of the following participating Financial Institutions (FIs) to apply for the loan (subject to banks’ credit approval).

Financial Institutions for EFS-WCL	Contact Details
CIMB Bank Berhad	6438 7888
DBS Bank Ltd	1800 222 2200
ETHOZ Capital Ltd	6654 7799
FS Capital Pte Ltd (related entity of Funding Societies)	6221 0958
GB Helios Pte Ltd (previously known as Goldbell Financial Services)	talktous@gbhelios.com.sg / 8399 2340
The Hongkong and Shanghai Banking Corporation	1800 216 9008 / 6216 9008
Hong Leong Finance Ltd	1800 3388 338
IFS Capital Ltd	info@ifscapital.com.sg / 6270 7711
Maybank Singapore Ltd	1800 777 0022
ORIX Leasing Singapore Ltd	6339 3622
Oversea-Chinese Banking Corporation Ltd (OCBC Bank)	6538 1111
RHB Bank Berhad	1800 323 0100
Sing Investments & Finance Limited	6305 0300
Standard Chartered Bank	1800 747 7000
United Overseas Bank Ltd	1800 2266 121