Government Finance Schemes & Grants
There are various government supported finance schemes available and we advise on the below:
Temporary Bridging Loan
Launched in 2020 to help SMEs access financing to cope with Covid-19’s impact. Up to $3M loan at low interest rate.
SME Working Capital Loan
Up to $300K government aided financing scheme for local SMEs, under the Enterprise Financing Scheme.
Trade Loan - EFS
Trade loan facility, under the ambit of the Enterprise Financing Scheme (EFS) helps SMEs access working capital facilities to finance their procurement, inventory and import financing. Trade loan also includes factoring and discounting trade facilities.
Enterprise Finance Scheme
Umbrella of various financing schemes to help SMEs at every stage of their growth.
SMEs in Singapore are able to access a myriad range of government financing schemes and grants. Most SME loan financing schemes are administered by Enterprise Singapore, an entity that champions SMEs growth in Singapore.
Businesses are able to tap onto suitable government supported finance schemes to launch, grow, scale and internationalize at every stage of their business growth.
Most of these schemes are executed in conjunction with participating banks and financial institutions. Enterprise Singapore typically provides some form of credit guarantees for participating financial institutions, in order to catalyze and encourage access to financing for SMEs.
There are different use cases for each facility type, and SMEs are encouraged to employ the right financing facility for their specific circumstance. Financing, as a form of leverage, when welded appropriately in the right context, can be a powerful lever to grow your business.