Extended Support Scheme

With the economic impact of Covid-19 expected to last longer, we recognize it can be challenging and worrying for you. Together with the industry, we are extending our support to SIF SME customers via the Extended Support Scheme (ESS).


Reduced instalment plan is applicable to existing SIF individual loans:

  • Property Loans
    • Borrowers can apply for reduced instalment payments for a period of up to 9 months but not exceeding 31 December 2021.
    • Loan tenure extension of up to 3 years can be granted on a case-by-case basis.
    • Criteria:
      • Opt-in basis for borrowers impacted by COVID-19
      • Proof of income is impacted with at least 25% loss of income or loss of employment after 1 February 2020.
      • Monthly loan repayments are no more than 90 days past due at point of application.
  • Application period is from 9 November 2020 to 30 June 2021.
  • Motor Vehicle Loans and Hire Purchase Agreements
    • Application will be assessed on a case-by-case basis.

ESS – Standardised (ESS-S) for SMEs

  • For existing SIF SME borrowers:
    • SME secured loans
    • Enterprise Singapore’s Enhanced Working Capital Loan Scheme
    • Enterprise Singapore’s Temporary Bridging Loan Programme
  • Borrowers can apply to defer 80% of the principal repayment from 1 January 2021 to 31 March 2021/30 June 2021*. The effective deferment period depends on the industry Tier that you are in. Please refer to Jobs Support Scheme (JSS) Notice to ascertain your industry tier. Note that you are required to continue to pay the monthly instalments of the remaining 20% principal and full interest on the loan. Late fees and charges apply.
    *Borrowers in Tier 1 and 2 Sections can choose to defer 80% of principal repayment from 1 January 2021 to 30 June 2021. Borrowers in Tier 3A and 3B Sectors can choose to defer 80% of principal repayment from 1 January 2021 to 31 March 2021.
  • Criteria:
    • Opt-in basis for SME borrowers (including sole proprietors and partnerships)
    • No overdue interest payments on loans under moratorium and monthly loan repayments are not more than 30 days past due at the point of application
  • Application period is from 2 November 2020

ESS – Customised (ESS-C) for SMEs

  • For existing SIF SME borrowers with credit facilities with more than one lender and who do not qualify Credit Counselling Singapore’s Sole Proprietors and Partnerships Scheme (SPP Scheme) and the Ministry of Law’s Simplified Insolvency Programme.
  • Subject to SIF’s assessment.

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