FAQ: Enterprise Financing Scheme – Foreign-based Financial Institutions / Multilateral Development Banks

  • What is the objective of EFS-FFI/MDB?

    EnterpriseSG launched EFS-FFI/MDB to better support Singapore enterprises in accessing finance from FFIs and MDBs when venturing overseas. The scheme allows Singapore enterprises to obtain financing from selected in-market financial institutions.

    EnterpriseSG will provide 50% risk-share to catalyse the lending from the participating financial institutions. Eligibility criteria are indicated in Annex A.

  • What is the risk sharing from EnterpriseSG and for which financing products?
    Risk-share for EFS-FFI/MDB is at 50% for Working Capital, Fixed Asset, Trade, Project and M&A Loans. The parameters of the scheme coverage are indicated in Annex B.
  • Which are the eligible Participating Financial Institutions (PFIs) on this programme?

    The eligible PFIs for EFS-FFI/MDB are Credit Europe Bank (CEB) and African-Export Import Bank (Afreximbank).

  • When is EFS-FFI/MDB open for application? How long is the scheme available for enterprises?

    EFS-FFI/MDB is open for applications until 31 Mar 2026. All applications must be approved by a Participating Financial Institution by 31 Mar 2026.

  • What is the difference between EFS-FFI/MDB and other EFS products?

    EFS-FFI/MDB is a targeted scheme to support internationalisation efforts of enterprises. It supports eligible enterprises to obtain debt financing from foreign-based financial institutions and multilateral development banks which have a better understanding of the market.

    The Enterprise Financing Scheme, on the other hand, provides risk-share for local enterprises to obtain domestic or foreign debt financing from financial institutions based in Singapore.

  • Can enterprises apply for the EFS-FFI/MDB loan(s) and other EFS facilities at the same time?

    Yes, enterprises can apply for EFS-FFI/MDB and other facilities under the Enterprise Financing Scheme if they meet the criteria for each scheme, subject to assessment by the PFIs. Interested enterprises may approach any of the participating financial institutions to apply for the loan (subject to banks’ credit assessment).

  • Can enterprises apply for the EFS-FFI/MDB scheme multiple times with different PFIs?

    Yes, enterprises can approach the PFIs to apply, with the total aggregated amount borrowed under the scheme together with other Enterprise Financing Scheme products capped at S$50 million per borrower group, subjected to the assessment by the PFIs.

  • As EnterpriseSG provides 50% risk share for the EFS-FFI/MDB scheme, are borrower/guarantors only responsible for the remaining 50% of the loan?
    No. The borrower(s) and guarantor(s) are responsible to repay 100% of the loan amount. When defaults occur, the PFIs 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 percentage.
  • Why do banks require a 100% Personal Guarantee (PG) when the government covers 50% of the loan amount?

    A PG is not only a means of security but also signals commitment by the guarantor(s) that they are committed to the loan obligation.

Annex A: Eligibility Criteria for EFS-FFI/MDB

Eligible enterprises must:
  1. be a business entity that is registered and physically present in Singapore,
  2. have at least 30% local equity held directly or indirectly by Singaporean(s) and/or Singapore PR(s), determined by the ultimate individual ownership,
  3. have group annual sales turnover of not more than S$100 million for Working Capital Loans,
  4. have group annual sales turnover of not more than S$500 million for all other product types.

Loan Type Supportable Areas Loan Parameters
Working Capital Loan Supportable Areas
 Finance daily operational cashflow needs 		Loan Parameters
  • Max Product Cap per borrower: S$300k
  • Max Loan Period: 5 years
Fixed Assets Loan Supportable Areas
  • Purchase of equipment and machinery
  • Construction of factories or purchase of land overseas
 Loan Parameters
  • Max Product Cap per borrower: S$30m
  • Max Loan Period: 15 years
Trade Loan Supportable Areas
 Finance trade needs 		Loan Parameters
  • Max Product Cap per borrower: S$8m
  • Max Loan Period: 1 year
Project Loan Supportable Areas
 Finance the fulfilment of secured overseas projects 		Loan Parameters
  • Max Product Cap per borrower: S$50m
  • Max Loan Period: 15 years
Merger & Acquisition Supportable Areas
 Finance the mergers and acquisitions of target enterprises
Loan Parameters
  • Max Product Cap per borrower: S$50m
  • Max Loan Period: 5 years
Government Risk-Share Loan Parameters
50%
Total Borrower Group Cap for EFS, EFS-FFI/MDB and EFS-Green Loan Parameters
 Max $50m

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