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
  • Enhanced 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.

The Temporary Bridging Loan will be extended for 6 months, from 1 April 2021 to 30 September 2021.

Features

  • Loan amount of up to S$5,000,000 / Borrower Group*
  • From 1 April 2021 to 30 September 2021: S$3,000,000 / 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 that hold more than 50% of the total shareholding of the applicant company, and any subsequent corporate parents (all levels up), and subsidiaries (all levels down). (Annual sales turnover and employment size is computed on a group basis).

**Subject to assessment.

Eligibility

  • SMEs1 and Non-SMEs
  • Be a business entity2 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

1SME 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)
2ACRA registered Sole Proprietorship, Partnership, Limited Liability Partnerships and Companies.

Enhanced relief assistance from Budget 2020 for SMEs impacted by COVID-19 to expand its operations or fund the daily operational cash flow needs. Enhanced SME Working Capital is collateral-free and is effective from 8 April 2020 until 31 March 2021.

The Enhanced SME Working Capital will revert to SME Working Capital Loan from 1 April 2021.

Features

  • Loan amount of up to S$1,000,000 / Borrower
  • From 1 April 2021: S$300,000 / Borrower
  • Loan tenure of up to 5 years
  • Attractive interest rate
  • Service only interest for up to 12 months (thereafter principal and interest for the remaining of loan tenure)*

Note: Overall loan exposure limit of S$50 million per borrower group across all areas
*Subject to assessment.

Eligibility

  • A business entity1 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 Group2 revenue cap of S$500 million for all enterprises
  • Group revenue of up to S$100 million, or maximum employment of 200 employees

1ACRA registered Sole Proprietorship, Partnership, Limited Liability Partnerships and Companies.
2Borrower Group consists of the following:

▪Borrower; and
▪Corporate shareholders that hold more than 50% of the total shareholding of the applicant company, and any subsequent corporate parents (all levels up), and subsidiaries (all levels down). (Annual sales turnover and employment size is computed on a group basis).

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 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$100million, or maximum employment of 200 employees
+ 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.

The Temporary Bridging Loan will be extended for 6 months, from 1 April 2021 to 30 September 2021.

Features

  • Loan amount of up to S$5,000,000 / Borrower Group*
  • From 1 April 2021 to 30 September 2021: S$3,000,000 / 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 that hold more than 50% of the total shareholding of the applicant company, and any subsequent corporate parents (all levels up), and subsidiaries (all levels down). (Annual sales turnover and employment size is computed on a group basis).

**Subject to assessment.

Eligibility

  • SMEs1 and Non-SMEs
  • Be a business entity2 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

1SME 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)
2ACRA registered Sole Proprietorship, Partnership, Limited Liability Partnerships and Companies.

+ Enhanced SME Working Capital

Enhanced relief assistance from Budget 2020 for SMEs impacted by COVID-19 to expand its operations or fund the daily operational cash flow needs. Enhanced SME Working Capital is collateral-free and is effective from 8 April 2020 until 31 March 2021.

The Enhanced SME Working Capital will revert to SME Working Capital Loan from 1 April 2021.

Features

  • Loan amount of up to S$1,000,000 / Borrower
  • From 1 April 2021: S$300,000 / Borrower
  • Loan tenure of up to 5 years
  • Attractive interest rate
  • Service only interest for up to 12 months (thereafter principal and interest for the remaining of loan tenure)*

Note: Overall loan exposure limit of S$50 million per borrower group across all areas
*Subject to assessment.

Eligibility

  • A business entity1 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 Group2 revenue cap of S$500 million for all enterprises
  • Group revenue of up to S$100 million, or maximum employment of 200 employees

1ACRA registered Sole Proprietorship, Partnership, Limited Liability Partnerships and Companies.
2Borrower Group consists of the following:

▪Borrower; and
▪Corporate shareholders that hold more than 50% of the total shareholding of the applicant company, and any subsequent corporate parents (all levels up), and subsidiaries (all levels down). (Annual sales turnover and employment size is computed on a group basis).

+ 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 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$100million, or maximum employment of 200 employees

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