Enterprise Financing Scheme (EFS)
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Sing Investments & Finance Limited is a participating financial institution for the government-backed SME loans under the Enterprise Financing Scheme (EFS). Locally owned SMEs can now apply for:
- Temporary Bridging Loan
- SME Working Capital
- SME Fixed Assets
Enhanced relief assistance from Budget 2020 to alleviate the cash flow needs of SMEs affected by the COVID-19 outbreak. Temporary Bridging Loan is an unsecured working capital and is effective from 8 April 2020 until 31 March 2021. It has been further extended for 6 months from 1 October 2021 to 31 March 2022.
Features
- Loan amount of up to:
- S$3,000,000 / Borrower
- S$20,000,000 / Borrower Group*
- Loan tenure of up to 5 years
- Interest rate capped at 5% p.a.
- Service only interest for up to 12 months (thereafter principal and interest for the remaining of loan tenure)**
*Borrower Group consists of the following:
– Borrower; and
– Corporate shareholders holding more than 50% at all levels up; and
– Subsidiaries where the Applicant company holds more than 50% shareholdings and subsequent subsidiaries at all levels down; and
– Subsidiaries where the Applicant’s Ultimate Parent Company holds more than 50% down shareholdings and its subsidiaries at all level.
**Subject to assessment.
Eligibility
- SMEs* and Non-SMEs
- Be a business entity** that is registered and physically present in Singapore
- With at least 30% local equity held directly or indirectly by Singaporean(s) and/or Singapore PR(s), determined by the ultimate individual ownership
*SME is defined as an enterprise with Group Sales turnover of not more than S$100mil or total Group Employment size not exceeding 200 (entities that do not fall within this requirement will be considered Non-SMEs)
**ACRA registered Sole Proprietorship, Partnership, Limited Liability Partnerships and Companies.
SME Working Capital Loan is a Term Loan for financing SMEs’ operational cashflow needs.
Features
- Loan amount of up to:
- S$300,000 / Borrower
- S$5,000,000 / Borrower Group
- Loan tenure of up to 5 years
- Attractive interest rate
Note: Overall loan exposure limit of S$50 million per borrower group across all areas
Eligibility
- A business entity* that is registered and physically present in Singapore
- With at least 30% local equity held directly or indirectly by Singaporean(s) and/or Singapore PR(s), determined by the ultimate individual ownership
- Maximum Borrower Group** revenue cap of S$500 million for all enterprises
- Group revenue of up to S$100 million, or maximum employment of 200 employees
*ACRA registered Sole Proprietorship, Partnership, Limited Liability Partnerships and Companies.
**Borrower Group consists of the following:
– Borrower; and
– Corporate shareholders holding more than 50% at all levels up; and
– Subsidiaries where the Applicant company holds more than 50% shareholdings and subsequent subsidiaries at all levels down; and
– Subsidiaries where the Applicant’s Ultimate Parent Company holds more than 50% down shareholdings and its subsidiaries at all levels.
Financing the investment of domestic fixed assests, including:
- Purchasing of equipment and machines for automation and upgrading
- Construction or purchase of government and commercial built factories and business premises
Features
- Financing up to 90%
- Loan tenure of up to 15 years
- Attractive interest rate
- Maximum loan quantum of S$30 million / borrower group
Note: Overall loan exposure limit of S$50 million per borrower group** across all areas.
Eligibility
- Business* must be regstered and physically present in Singapore
- With at least 30% local equity held directly or indirectly by Singaporean(s) and/or Singapore PR(s), determined by the ultimate individual ownership
- Maximum borrower group revenue cap of S$500 million for all enterprises
- Group revenue of up to S$100million, or maximum employment of 200 employees
*ACRA registered Sole Proprietorship, Partnership, Limited Liability Partnerships and Companies.
**Borrower Group consists of the following:
– Borrower; and
– Corporate shareholders holding more than 50% at all levels up; and
– Subsidiaries where the Applicant company holds more than 50% shareholdings and subsequent subsidiaries at all levels down; and
– Subsidiaries where the Applicant’s Ultimate Parent Company holds more than 50% down shareholdings and its subsidiaries at all levels.
- + Temporary Bridging Loan
-
Enhanced relief assistance from Budget 2020 to alleviate the cash flow needs of SMEs affected by the COVID-19 outbreak. Temporary Bridging Loan is an unsecured working capital and is effective from 8 April 2020 until 31 March 2021. It has been further extended for 6 months from 1 October 2021 to 31 March 2022.
Features
- Loan amount of up to:
- S$3,000,000 / Borrower
- S$20,000,000 / Borrower Group*
- Loan tenure of up to 5 years
- Interest rate capped at 5% p.a.
- Service only interest for up to 12 months (thereafter principal and interest for the remaining of loan tenure)**
*Borrower Group consists of the following:
– Borrower; and
– Corporate shareholders holding more than 50% at all levels up; and
– Subsidiaries where the Applicant company holds more than 50% shareholdings and subsequent subsidiaries at all levels down; and
– Subsidiaries where the Applicant’s Ultimate Parent Company holds more than 50% down shareholdings and its subsidiaries at all level.**Subject to assessment.
Eligibility
- SMEs* and Non-SMEs
- Be a business entity** that is registered and physically present in Singapore
- With at least 30% local equity held directly or indirectly by Singaporean(s) and/or Singapore PR(s), determined by the ultimate individual ownership
*SME is defined as an enterprise with Group Sales turnover of not more than S$100mil or total Group Employment size not exceeding 200 (entities that do not fall within this requirement will be considered Non-SMEs)
**ACRA registered Sole Proprietorship, Partnership, Limited Liability Partnerships and Companies. - Loan amount of up to:
- + SME Working Capital
-
SME Working Capital Loan is a Term Loan for financing SMEs’ operational cashflow needs.
Features
- Loan amount of up to:
- S$300,000 / Borrower
- S$5,000,000 / Borrower Group
- Loan tenure of up to 5 years
- Attractive interest rate
Note: Overall loan exposure limit of S$50 million per borrower group across all areas
Eligibility
- A business entity* that is registered and physically present in Singapore
- With at least 30% local equity held directly or indirectly by Singaporean(s) and/or Singapore PR(s), determined by the ultimate individual ownership
- Maximum Borrower Group** revenue cap of S$500 million for all enterprises
- Group revenue of up to S$100 million, or maximum employment of 200 employees
*ACRA registered Sole Proprietorship, Partnership, Limited Liability Partnerships and Companies.
**Borrower Group consists of the following:
– Borrower; and
– Corporate shareholders holding more than 50% at all levels up; and
– Subsidiaries where the Applicant company holds more than 50% shareholdings and subsequent subsidiaries at all levels down; and
– Subsidiaries where the Applicant’s Ultimate Parent Company holds more than 50% down shareholdings and its subsidiaries at all levels. - Loan amount of up to:
- + SME Fixed Assets
-
Financing the investment of domestic fixed assests, including:
- Purchasing of equipment and machines for automation and upgrading
- Construction or purchase of government and commercial built factories and business premises
Features
- Financing up to 90%
- Loan tenure of up to 15 years
- Attractive interest rate
- Maximum loan quantum of S$30 million / borrower group
Note: Overall loan exposure limit of S$50 million per borrower group** across all areas.
Eligibility
- Business* must be regstered and physically present in Singapore
- With at least 30% local equity held directly or indirectly by Singaporean(s) and/or Singapore PR(s), determined by the ultimate individual ownership
- Maximum borrower group revenue cap of S$500 million for all enterprises
- Group revenue of up to S$100million, or maximum employment of 200 employees
*ACRA registered Sole Proprietorship, Partnership, Limited Liability Partnerships and Companies.
**Borrower Group consists of the following:
– Borrower; and
– Corporate shareholders holding more than 50% at all levels up; and
– Subsidiaries where the Applicant company holds more than 50% shareholdings and subsequent subsidiaries at all levels down; and
– Subsidiaries where the Applicant’s Ultimate Parent Company holds more than 50% down shareholdings and its subsidiaries at all levels.