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Supplementary Budget 2020
Supplementary Budget 2020
Announced on 26 Mar, 6 Apr, 26 May and 12 Oct
Market Readiness Assistance (MRA) Grant
Companies can look forward to support for in-depth FTA consultancy and overseas business development. To support more local companies to go overseas, the grant will be enhanced:
Removal of the cap on two applications per company per year.
Grant cap will be increased from S$20,000 per year, to S$100,000 per new country over three years.
70% support level will be extended by three years to 31 March 2023.
SUPPLEMENTARY BUDGET
Maximum support level will be raised from 70% to 80% from 1 November 2020 to 30 September 2021.
Programme will extend support to include businesses’ participation in virtual trade fairs.
Read more
Enterprise Financing Scheme – Project Loan
SUPPLEMENTARY BUDGET
Scheme will be enhanced to support domestic construction projects undertaken by companies in the construction sector.
50% risk-share from Government.
Valid from 1 January 2021 to 31 March 2022.
Read more
Digital Resilience Bonus
Support for businesses to improve competitiveness and productivity through digitalisation, and adapt to safe management practices.
As a pilot, the Bonus will target businesses in F&B and Retail that are most affected by safe distancing requirements.
Eligible businesses will receive up to S$10,000 if they adopt baseline digital solutions such as PayNow Corporate and e-invoicing, as well as digitalise business processes, create online channels and implement data mining and analytic solutions.
Read more
Enterprise Development Grant (EDG)
SUPPLEMENTARY BUDGET
Maximum support level will be raised from 70% to 80% from 1 April 2020 to 30 September 2021.
Unionised enterprises and e2i partners under the Labour Movement are eligible to receive an additional 10% funding support, subject to NTUC e2i’s assessment.
Read more
Productivity Solutions Grant (PSG)
Greater support for more sector-specific solutions and a wider range of pre-scoped solutions for businesses beyond IT solutions and equipment.
Expanded scope to include job redesign consultancy services.
SUPPLEMENTARY BUDGET
Maximum
support level will be raised from 70% to 80% from 1 April 2020 to 30 September 2021.
Expanded scope of solutions to help enterprises implement COVID-19 business continuity measures. Valid till 31 December 2020.
Online collaboration tools
Virtual meeting and telephony tools
Queue management systems
Temperature screening solutions
Read more
SG Together Enhancing Enterprise Resilience (STEER) Programme
Programme will support funds set up by the Trade Associations and Chambers (TACs) or industry groupings
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, with the aim of helping businesses tide over the challenges arising from COVID-19, and to push on with transformation efforts in preparation for the economic recovery.
Supportable uses of the fund include grants for business sustenance, business growth, and capability upgrading.
Valid from 3 March 2020 to 2 March 2021.
SUPPLEMENTARY BUDGET
From 1 April 2020, Enterprise Singapore will match S$1 for every S$2 raised by such industry-led initiatives, up to S$1 million per fund.
For more information, contact us at
enquiry@enterprisesg.gov.sg
1
An industry grouping is defined as a group of at least five companies collaborating to set up a fund, with an independent legal entity set up and an independent 3rd party secretariat supporting the management of the fund.
Enterprise Financing Scheme – SME Working Capital Loan (EFS WCL)
SMEs will receive greater financing support to bridge their working capital gaps.
SUPPLEMENTARY BUDGET
Maximum loan quantum will be raised from S$600,000 to S$1 million.
Risk-share from Government will be increased to 90% from 80% (previously at 50-70%)
Valid from 8 April 2020 to 31 March 2021
SMEs may request for deferment of principal repayment for one year, subject to assessment by participating financial institutions.
Read more
Enterprise Financing Scheme – Trade Loan (EFS TL)
SUPPLEMENTARY BUDGET
Maximum loan quantum will be increased from S$5 million to S$10 million.
Risk-share from Government will be increased to 90% from 80% (previously at 50-70%)
Valid from 8 April 2020 to 31 March 2021
Updated on 12 October 2020:
Programme will be extended by 6 months (from 1 April 2021 to 30 September 2021) with the following level of support during this period:
70% risk-share from Government.
Maximum loan quantum of S$10 million.
Read more
Temporary Bridging Loan Programme (TBLP)
Financing support to alleviate cashflow needs of enterprises affected by the COVID-19 outbreak.
SUPPLEMENTARY BUDGET
Programme will be expanded from the tourism sector to all sectors from 1 April 2020.
Maximum loan quantum will be increased from S$1 million to S$5 million, with interest rate capped at 5% per annum.
Risk-share from Government will be increased from 80% to 90%
Valid from 8 April 2020 to 31 March 2021
SMEs may request for deferment of principal repayment for one year, subject to assessment by participating financial institutions.
Updated on 12 October 2020:
Programme will be extended by 6 months (from 1 April 2021 to 30 September 2021) with the following level of support during this period:
70% risk-share from Government.
Maximum loan quantum of S$3 million.
Read more
Loan Insurance Scheme
SUPPLEMENTARY BUDGET
Increased support for the LIS insurance premium from 50% to 80%.
Valid from 1 April 2020 to 31 March 2021.
Read more
Budget 2020 Measures
Full details for all Budget 2020 measures that will help your business and team prepare for long-term growth and emerge stronger.
Read More
Supplementary Budget Infographics
Discover new measures to help your business build resilience and transform.
Read More