Comparing Available Loans for SMEs
Government-backed loans make the island nation a conducive and premier location for business start-ups, especially SMEs. Singapore-based companies can benefit from various loans & schemes for working capital, equipment & trade financing, all of which contribute to a healthy business environment and consistent economic growth.
Innovative, high-growth companies can access alternative venture debt financing of up to $5 million for business expansion.
Eligibility Criteria
Companies applying for the SME Venture Loan should meet the following criteria:
- Company registered and operating in Singapore
- At least 30% local shareholding
- Group annual sales of ≤ S$100m or group employment size ≤ 200
| Scope |
|
| Loan Quantum |
|
| Warrants |
|
| Participating Financial Institutions | Contact |
| DBS Bank Ltd | 1800 222 2200 |
| Oversea-Chinese Banking Corporation Ltd | 6538 1111 |
| United Overseas Bank Ltd | 1800 2266 121 |
| Innoven Capital | 6532 2416 |
Companies can access unsecured working capital loan of up to S$300,000 to support daily operations.
Eligibility Criteria
Companies applying for the SME Working Capital Loan should meet the following criteria:
- Company registered and operating in Singapore
- At least 30% local shareholding
- Company’s Group Annual Sales of ≤ S$100m or company’s Group employment size ≤ 200
| Scope |
|
| Loan Quantum |
|
| Repayment Period |
|
| Interest Rate |
|
Companies with 10 or fewer employees can access working capital loan of up to S$100,000 to support their daily operations.
Eligibility Criteria
Companies applying for the SME Micro Loans should meet the following criteria:
- Company registered and operating in Singapore
- At least 30% local shareholding
- Annual sales ≤ S$1m or ≤ 10 employees
- Group annual sales of ≤ S$100m or group employment size ≤ 200
| Scope |
|
| Loan Quantum |
|
| Repayment Period |
|
| Interest Rate |
|
| Participating Financial Institutions | Contact |
|---|---|
| DBS Bank Ltd | 1800 222 2200 |
| Ethoz Capital Ltd | 6654 7799 |
| Hong Leong Finance Ltd | 1800 3388 338 |
| IFS Capital Ltd | 6270 7711 |
| Malayan Banking Berhad | 1800 777 0022 |
| ORIX Leasing Singapore Ltd | 6339 3622 |
| Oversea-Chinese Banking Corporation Ltd | 6538 1111 |
| RHB Bank Berhad | 1800 323 0100 |
| United Overseas Bank Ltd | 1800 2266 121 |
Companies can access financing of up to S$15 million to purchase equipment, machines or selected factory properties.
Eligibility Criteria
Companies applying for equipment or factory loans should meet the following criteria:
- Company registered and operating in Singapore
- At least 30% local shareholding
- Company’s Group Annual Sales of ≤ S$100m or company’s Group employment size ≤ 200
| Scope |
|
| Loan Quantum |
|
| Repayment Period |
|
| Interest Rate |
|
| Participating Financial Institutions | Contact |
|---|---|
| DBS Bank Ltd | 1800 222 2200 |
| Ethoz Capital Ltd | 6654 7799 |
| Hong Leong Finance Ltd | 1800 3388 338 |
| IFS Capital Ltd | 6270 7711 |
| Malayan Banking Berhad | 1800 777 0022 |
| ORIX Leasing Singapore Ltd | 6339 3622 |
| Oversea-Chinese Banking Corporation Ltd | 6538 1111 |
| RHB Bank Berhad | 1800 323 0100 |
| Sing Investments & Finance Ltd | 6305 0300 |
| Singapura Finance Ltd | 6880 0688 |
| United Overseas Bank Ltd | 1800 2266 121 |
Singapore-based companies can borrow up to S$30 million to finance their international expansion efforts abroad.
With IFS, companies have opportunities to access financing facilities provided by PFI in the following categories:
- Asset-based financing to purchase fixed assets for use overseas, or to purchase/construct factories overseas.
- Structured loans to finance the working expenses of secured overseas projects.
- Banker’s guarantee for issuance of guarantee facilities for secured overseas projects which can take the form of advance payment guarantee, performance guarantee or tender bond guarantee.
- Merger and Acquisition financing to finance acquisition of equity stakes in businesses for overseas expansion. The acquisition should be in line with the applicant’s core business.
Eligibility Criteria
Singapore-based companies with main business functions in Singapore and annual sales revenue (including subsidiaries) of less than S$500 million (for trading companies) or less than S$300 million (for non-trading companies) may apply.
Funding Support
- Up to S$30 million in credit facilities to support your business’ overseas expansion.
- Interest rates, repayment structures and collateral requirements would be determined by the PFIs.
- Enterprise Singapore bears 70% risk with the PFIs.
| Participating Financial Institutions (PFIs) | Contact Details |
| Bank of China | 6412 8656 / 6412 8342 |
| CIMB Bank Berhad | 6302 2688 / 6410 3240 |
| DBS Bank Limited | 1800 222 2200 |
| Hong Leong Finance Limited | 1800 338 8338 |
| IFS Capital Limited | 6270 7711 |
| Industrial and Commercial Bank of China Limited | 6538 1066 |
| Malayan Banking Berhad (Maybank) | 6550 7586 |
| Mizuho Bank, Limited | 6805 3766 |
| ORIX Leasing Singapore Limited Standard Chartered Bank |
6339 3622 1800 747 7000 |
| Oversea-Chinese Banking Corporation Ltd (OCBC Bank) | 6538 1111 |
| Resona Merchant Bank Asia Ltd | 6224 7155 / 6228 6105 |
| Standard Chartered Bank | 1800 747 7000 |
| The Hongkong and Shanghai Banking Corporation Limited | 1800 216 9008 / 6216 9000 |
| United Overseas Bank Limited | 6539 1236 |
Mid-sized Singapore-based companies developing local and regional infrastructure projects can tap the IFS-NR to manage risk.
Eligibility Criteria
Singapore based companies with main business functions in Singapore and annual sales revenue (including subsidiaries) of less than S$1 billion (for trading companies) or less than S$500 million (for non-trading companies) may apply for IFS-NR.
In addition, the qualifying Singapore entity must have at least 30% equity share in the Special Purpose Vehicle and the overseas business must complement the Singapore company’s core operations and result in clear economic spin-offs to Singapore.
The TCIS protects companies against cashflow problems arising from situations beyond control such as non-payment from buyers.
Eligibility Criteria
Your company needs to fulfil the following criteria:
- Global headquarters anchored in Singapore
- Turnover of Applicant Company and its subsidiaries should not exceed S$100 million
- A minimum paid-up capital of S$50,000
If your company qualifies, Enterprise Singapore can support up to 50% of the minimum insurance premium for TCI policies provided commercially by Singapore-registered credit insurers. This is subject to a maximum lifetime support of S$100,000 per qualifying Applicant Company.
The PRIS provides a 50% subsidy on political risk insurance premiums for Singapore-based companies that venture overseas.
Eligibility Criteria
Companies applying for PRIS should meet the following criteria:
- Global HQ anchored in Singapore
- At least three strategic business functions in Singapore
- An annual turnover not exceeding S$500 million
- An annual total business spending of at least S$250,000 in Singapore for each of the past three years
- A minimum paid-up capital of S$50,000
With Political Risk Insurance Scheme (PRIS), qualifying Singapore companies can receive premium support for PRI policies. Enterprise Singapore will support 50% of the premium for up to the first three years of each PRI policy. This is subject to a maximum amount of S$500,000 per qualifying Singapore-based company.
A typical PRI policy covers risks such as:
- Expropriation
- Currency inconvertibility and transfer restrictions
- Political violence
- Breach of contract by host government
- Non-honouring of sovereign financial obligations
The LIS helps companies secure short-term trade financing by insuring banks against the insolvency risks of borrowers.
Companies can apply for the LIS to secure short-term trade financing lines such as:
- Inventory / stock financing facility
- Structured pre-delivery working capital
- Factoring / bill or invoice or accounts receivable discounting with recourse
Eligibility Criteria
Companies applying for the LIS should meet the following criteria:
- Registered and operating in Singapore
- At least 30% local shareholding
- Applicant’s group annual sales turnover should be up to S$100 million or applicant’s group employment size must not exceed 200 workers
| Participating Financial Institutions (PFIs) | Contact Details |
| Bibby Financial Services (Singapore) Pte Ltd | 6922 5030 |
| The Bank of East Asia, Limited | 6602 7848/ 6602 7849 |
| CIMB Bank Berhad | 6438 7888 |
| DBS Bank Ltd | 1800 222 2200 |
| Hong Leong Finance Limited | 1800 338 8338 |
| The Hongkong and Shanghai Banking Corporation Limited | 1800 216 9008 / 6216 9008 |
| Malayan Banking Berhad (Maybank) | 1800 629 2265 |
| Overseas-Chinese Banking Corporation Limited (OCBC Bank) | 6538 1111 |
| RHB Bank Berhad Singapore | 1800 323 0100 |
| Standard Chartered Bank | 1800 743 3000 |
| United Overseas Bank Limited | 1800 226 6121 |
Singapore-based M&OE companies can access working capital to finance their operations and bridge short-term cash flow gaps.
Eligibility Criteria
Companies applying for the BL-MOE should meet all of the following criteria:
- Are registered and operating in Singapore
- Have at least 30% local shareholding
- Be from the Marine & Offshore Engineering industry
Sub-categories of the Marine & Offshore Engineering include:
- Shipyards
- Contractors to shipyards
- Offshore services providers
- Exploration & Production (E&P) companies
- Oil and gas (O&G) equipment and services companies
- Suppliers to O&G equipment and services companies
| Scope | Working capital |
| Loan Quantum | Up to S$5M per borrower (Up to S$15M per borrower group) |
| Repayment Period | Up to 6 years |
| Interest Rate | Subject to PFIs’ assessment of the risks involved |
| Participating Financial Institutions | Contact |
|---|---|
| DBS Bank Ltd | 1800 222 2200 |
| Ethoz Capital Ltd | 6654 7799 |
| Hong Leong Finance Ltd | 1800 3388 338 |
| IFS Capital Ltd | 6270 7711 |
| Malayan Banking Berhad | 1800 629 2265 |
| Oversea-Chinese Banking Corporation Ltd | 6538 1111 |
| RHB Bank Berhad | 1800 323 0100 |
| Standard Chartered Bank | 1800 743 3000 |
| The Hongkong and Shanghai Banking Corporation Ltd | 1800 216 9008 / 6216 9008 |
| United Overseas Bank Ltd | 1800 2266 121 |