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Enterprise Financing Scheme (EFS) - SME Working Capital Loan

This programme helps SMEs finance operational cashflow needs.


Up to S$1 Million loan per Borrower Group, valid until 31 March 2021.*

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

*Refer to "Critical Information" for more details.

You are:

  • A Singaporean SME looking for working capital loans to finance operational cashflow needs.


You need to:

  • Be a business entity 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 a Maximum Borrower Group* revenue cap of S$500 million for all companies.

Note: For “SME Working Capital” and “SME Fixed Assets”, the SME definition refers to Group revenue of up to S$100 million or maximum employment of 200 employees.

*Refer to "Critical Information" for more details. 

Critical information

In the event of company insolvency, the Government will provide 90% risk share on the loan for new applications initiated from 8 April until 31 March 2021.

Borrower Group consists of the following:

  • Borrower; and
  • Corporate shareholders that holds more than 50% of total shareholding of the applicant company, and any subsequent corporate parents (all levels up), and subsidiaries (all levels down).

Repayment Period: Up to 5 years. SMEs may request for deferment of principal repayment for one year, subject to assessment by participating financial institutions.

Interest Rate: Subject to PFIs' assessments of risks involved

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
For application details and instructions on how to compile all required supporting documents for submission, click here.
Useful links
For more details: EFS