Enterprise Financing Scheme – Project Loan

For enterprises to finance secured overseas projects

As announced at Budget 2024, the support for domestic projects for construction enterprises will be extended until 31 March 2025.

About this financing scheme

The Enterprise Financing Scheme – Project Loan (EFS-PL) finances the fulfilment of secured overseas projects. The supportable loan types include:

Working capital loan
Factory/ Building/ Land (includes Purchase/ Renovation/ Construction)
Equipment/ Machineries/ Vessels/ Other Fixed Assets/ Machinery Hire Purchase
Guarantees

Loan details

Maximum Loan Quantum	S$50 million / borrower for overseas projects Until 31 March 2024: S$30 million / borrower for domestic projects From 1 Apr 2024 - 31 March 2025: S$15 million / borrower for domestic projects Note: Borrowers are subject to an overall borrower group² limit of S$50 million for overseas projects and S$30 million for domestic projects for EFS-PL. There is also an overall loan exposure limit of S$50 million per borrower group across all facilities.
Maximum Repayment Period	Up to 15 years There must be an underlying contract, secured sales order and/or projects tied to the fixed asset, working capital loan and guarantee.
EnterpriseSG Risk-share	Risk share is at 50% Young enterprises³ or enterprises operating in a challenged market⁴ may receive a risk share of 70% Borrowers are responsible to repay 100% of the loan amount When defaults occur, the participating Financial Institutions (FIs) are obligated to follow their standard commercial recovery procedure, including the realisation of security, before they can make a claim against EnterpriseSG for the unrecovered amount in proportion to the risk-share
Interest Rate	Subject to participating FIs’ assessment of risks involved

² A Borrower Group consists of the following:

Borrower
Corporate shareholders holding more than 50% at all levels up
Subsidiaries where the Applicant company holds more than 50% shareholdings and subsequent subsidiaries at all levels down
Subsidiaries where the Applicant’s Ultimate Parent Company holds more than 50% shareholdings and their subsidiaries at all levels down

³ Young enterprises refer to firms formed within the past 5 years with at least 1 employee and more than 50% equity owned by individuals.
⁴ Challenged markets refer to countries with an S&P rating of BB+ and below, including non-rated countries.

Eligibility

Business entity registered and operating in Singapore
- ACRA-registered Sole Proprietorships, Partnerships, Limited Liability Partnerships and Companies are eligible to apply
- Approvals of loans are subject to the participating Financial Institution's assessment
Company has at least 30% local equity held directly or indirectly by Singaporean(s) and/or Singapore PR(s), determined by the ultimate individual ownership
Company has a Group Annual Sales Turnover not exceeding S$500 million
Enterprises registered with SSIC codes beginning with 41, 42 or 43 may apply for the enhanced EFS-PL to support domestic projects
Fixed assets acquired are to discharge a contractual obligation under the project
It must be for secured sales orders and/or projects, and cannot be used solely for general working capital or operating expenses

How to apply

Interested enterprises may approach any of the following participating Financial Institutions to apply for the loan (subject to banks’ credit approval).

Financial Institutions for EFS-PL	Contact Details
DBS Bank Ltd	1800 222 2200
The Hongkong and Shanghai Banking Corporation	1800 216 9008 / 6216 9008
IFS Capital Ltd	info@ifscapital.com.sg / 6270 7711
Maybank Singapore Ltd and Malayan Banking Berhad, Singapore Branch	1800 777 0022
Oversea-Chinese Banking Corporation Ltd (OCBC Bank)	6538 1111
RHB Bank Berhad	1800 323 0100
United Overseas Bank Ltd	1800 2266 121