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Enterprise Financing Scheme (EFS) - Project Loan

This programme helps enterprises finance the fulfillment of secured overseas projects.

The supportable loan types include:

  • Working Capital and Trade Loans
  • Equipment/ Machineries/ Vessels/ Other fixed assets
  • Guarantees



Up to S$50 million loan per Borrower for overseas projects

Up to S$30 million loan per Borrower for domestic projects

Note 1: Borrowers are subject to an overall borrower group limit of S$50m for overseas project and S$30m for domestic project for EFS PL. In addition, there is an overall loan exposure limit of S$50 million per borrower group across all facilities.

Note 2: The enhanced Enterprise Financing Scheme – Project Loan (EFS-PL) will be further extended till 31 March 2023 to support domestic projects for construction enterprises.

Refer to "Critical Information" for more details.


You are:

  • A Singaporean enterprise looking to finance the fufillment of secured overseas projects.

You need to:

  • Be a business entity1 that is registered and physically present in Singapore,
  • Have at least 30% local equity held directly or indirectly by Singaporean(s) and/or Singapore PR(s), determined by the ultimate individual ownership,
  • Have Group Annual Sales Turnover 2 of not more than S$500 million.
  • Be registered with SSIC codes beginning with 41,42 or 43 to apply for the enhanced EFS-PL to support domestic projects.

For the loan to be supported under EFS - Project Loan, the additional criteria are required:

  • Fixed assets acquired are to discharge a contractual obligation under the project,
  • It must be for secured sales order and/or projects. It cannot be used solely for general working capital/operating expenses.


1. ACRA registered Sole Proprietorship, Partnership, Limited Liability Partnerships and Companies are eligible to apply for the scheme. Approval of the loan is subject to the PFI's assessment. 

2. Annual sales turnover and employment size is computed on a group basis. 

Critical information

ESG risk share is at 50%. Young enterprises1 or enterprises operating in a challenged market2 may receive a risk share of 70%.

The borrower is responsible to repay 100% of the loan amount. When defaults occur, the Participating Financial Institutions (PFIs) are obligated to follow their standard commercial recovery procedure, including the realisation of security, before they can make a claim against Enterprise Singapore for the unrecovered amount in proportion to the risk-share.

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
  • Subsidiaries where the Applicant’s Ultimate Parent Company holds more than 50% shareholdings and it subsidiaries at all levels down

Repayment Period: Up to 15 years

Interest Rate: Subject to PFIs' assessments of risks involved

1. Young enterprises refer to firms formed within the past 5 years with at least 1 employee, and more than 50% equity owned by individuals. 
2. Challenged markets refer to countries with Standard & Poor’s (S&P) rating BB+ and below, including non-rated countries.  

What to expect when applying

Interested enterprises may approach any of the following Participating Financial Institutions to apply for the loan with the required supporting documents (subject to banks’ credit approval).

List of Participating Financial Institutions can be found here.

Documents you'll need for your application
  • Download and save the Enterprise Finance Scheme application form here.
  • For details and instructions on how to compile all required supporting documents for submission, refer to the application form guide here.
Useful links

For more details: EFS