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Enterprise Financing Scheme (EFS) - Venture Debt

This programme finances the growth of innovative enterprises using Venture Debt and Warrants.

Enterrprises can use the loan to: 

  • Grow and expand existing capacity
  • Diversify into other product lines
  • Augment working capital needs
  • Undertake new projects 
  • Undergo merger and acquisitions

Tags:

Benefits
Up to S$5 Million loan per Borrower Group*

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

*Refer to "Critical Information" for more details.
Eligibility

You are:

  • A high growth start-up that do not have significant assets to be used as collateral under traditional bank lending.

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 cap1 of S$500 million for all companies.

*Refer to "Critical Information" for more details.

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

Critical information

In the event of company insolvency, Enterprise Singapore will co-share with the Participating Financial Institution (PFI): 

  • Up to 50% of loan default risks;
  • Can be up to 70% risk share for young enterprises1.

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

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. 

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