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PFIs are not willing to approve my company’s loan application even though it is eligible for the Enhanced EFS-PL. What can I do?
All eligible enterprises applying for the Enhanced EFS-PL are subject to assessment by PFIs. Enterprises which require further support may approach Enterprise Singapore at (65) 6898 1800 or submit an enquiry through https://go.gov.sg/askenterprisesg.
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Since Enterprise Singapore provides 50%/70% risk shares on the loan, does it mean that the borrower/guarantors are only responsible for the remaining percentage of the loan?
No. The borrower and guarantors are responsible to repay 100% of the loan amount. When defaults occur, 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 risk-share.
