SME Working Capital Loan
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Government Aided Financing Scheme For SMEs
The SME Working Capital Loan is a government assisted financing loan under the Enterprise Financing Scheme (EFS-WCL). The enhanced scheme in the Solidarity Budget 2020 helps SMEs access financing till March 2021.
Under the new Enhanced SME Working Capital Loan, access up to $1 million to finance cash flow needs. Enterprise Singapore partners with participating financial institutions with up to 90% risk sharing.
There are 15 financial institutions participating in this scheme. Credit criteria & interest rate vary across the banks. We can provide you with a direct comparison on all banks SME Working Capital Loan rates and eligibility terms.
Secure the funding you require under the SME Working Capital Loan to expand and scale your business. Get a free loan assessment & compare all banks financing options now, fast and hassle free.
SME Working Capital Loan Features
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Enhanced SME Working Capital Loan Eligibility:
Local business registered and operating physically in Singapore
Minimum 30% ultimate ownership shareholdings held by Singaporeans or Singapore PR(s)
Group annual sales of ≤ S$100m or group employment size ≤ 200
Government risk sharing 90% with participating financial institutions. SME borrowers are still liable for 100% of loan outstanding in event of default. Banks will proceed first with their standard commercial recovery process.
SME Financing Institutions
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"We are very satisfied with the service and capability of Linkflow Capital in assisting with our company’s expansion. They have provided us clear financing solutions with fast response and turnaround time.”
Mr Frankie Gwee
Tuan Yuan Pork Ribs Soup Pte Ltd (F&B restaurant)
"Linkflow Capital has assisted our company with trade financing, enabling a 300% revenue growth in 2 years. They are our trusted advisor and served us with efficiency and honesty over the years.”
Mr S.S. Lee
Powerzone Technologies Pte Ltd
(Engineering & trading firm)
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“Linkflow Capital has helped us identify facilities suitable for our company’s growth. The consultant is sincere, efficient and provided prompt follow up service.”
(Reno & ID firm)
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The maximum financing loan quantum under the enhanced SME Working Capital Loan is up to S$1 million. This amount can be combined across multiple participating financial institutions if your business meets the credit criteria of the various lenders.
Interest rate is determined by the respective participating financial institutions in the SME Working Capital Loan scheme. It could range between 3.75% to 7.5% p.a. effective rate, dependent on their risk and credit assessment.
Business must be registered and operating in Singapore with at least 30% local shareholdings. Group annual revenue not more than $100 million or group employment size of not more than 200 employees.
The maximum repayment tenure is up to 5 years. Most participating financial institutions might offer no early repayment penalty for borrowers whom wish to do an early redemption of the loan. This is subject to respective financial institutions terms and conditions.
The SME Working Capital Loan is extended for another 2 years till 31 March 2021. This was announced in February 2019 Budget by the Finance Minister.
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