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Singapore Companies COVID 19 Stimulus Measures

Economic Measure for Singapore Companies

Singapore Companies COVID 19 Stimulus Measures

  

Enhanced SME Working Capital Loan

  • The SME Working Capital Loan (which has been subsumed under the Enterprise Financing Scheme), will be enhanced to increase the maximum loan quantum to S$1 million.
  • The Government’s risk share will be increased to 90% and SMEs may request for deferment of principal repayment for one year.
  • Maximum repayment period shall be 5 years.
  • Interest rate shall be Subject to the Participating Financial Institutions (PFI’s) assessments of risks involved.
Eligibility Criteria:
  • Be a business entity* that is registered and physically present in Singapore;
  • At least 30% local equity held directly or indirectly by Singaporean(s) and/or Singapore PR(s), determined by the ultimate individual ownership.
  • Maximum Borrower Group** revenue cap of S$500 million for all enterprises.
  • For “SME Working Capital”, the SME definition refers to Group revenue of up to S$100 million or maximum employment of 200 employees.

Notes:
* ACRA registered Sole Proprietorship, Partnership, Limited Liability Partnerships and Companies are eligible to apply for the enhanced SME Working Capital Loan.
** Borrower Group consists of the following:

i . Borrower; and
ii . Corporate shareholders that hold more than 50% of the total shareholding of the applicant company, and any subsequent corporate parents (all levels up), and subsidiaries all levels down. (Annual sales turnover and employment size is computed on a group basis.)


  

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