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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 groupings1, 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
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(Last updated on 14 October 2020 17:21:17)