Singapore Government Business Loan

Lump sum principal loan amount usually.

Singapore government business loan. Business must be registered and physically present in singapore at least 36 months. Enhanced sme working capital loan up to 1 million. The society is open for membership to all staff who are employed in the civil service statutory boards and government linked companies.

At least 30 owned locally. Up to 3 years. Up to 5 years.

Up to 11 per annum default fee. Offered through participating financial institutions the government backed sme loans are ideal as the resources for working capital equipment factory financing and trade financing. In light of the covid 19 situation here are some of the schemes that the singapore government has rolled out to help businesses in singapore cope better.

For example high growth smes considering financing options for mergers and acquisitions large projects asset purchases or working capital needs could consider these venture loans in order to grow their business. The temporary bridging loan programme tblp provides access to working capital for business needs. When talked about business loans available in singapore the government backed loans always make the list.

As announced at solidarity budget 2020 eligible enterprises may borrow up to 5 million under the tblp with the interest rate capped at 5 p a from participating financial institutions pfis the government will provide 90 risk share on these loans for new applications initiated from. The temporary bridging loan programme was introduced and enhanced in budget 2020 to help smes improve access to financing up to 5m and lower the cost of financing in view of covid 19 s impact on the economy. To combat the economic challenges caused by covid 19 the singapore government introduced a number of government backed business loans to support the enterprises in singapore.

Most common form of working capital loan. Singapore spring s sme venture loans offer up to s 5 million to innovative high growth smes in fields like tech and biomedical for the purpose of business expansion. The singapore government staff credit co operative society ltd sgscc is the first co operative organization to be registered in singapore.