W0rking Capital Loan
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The Enterprise Singapore Working Capital Loan (EFS-WCL) is a government-assisted financing scheme designed to help Small and Medium Enterprises (SMEs) in Singapore manage their daily operational cash flow needs. It falls under the broader Enterprise Financing Scheme (EFS), which offers various types of loans to support enterprises at different stages of growth.
The Enterprise Singapore Working Capital Loan (EFS-WCL) is a government-assisted financing scheme designed to help Small and Medium Enterprises (SMEs) in Singapore manage their daily operational cash flow needs. It falls under the broader Enterprise Financing Scheme (EFS), which offers various types of loans to support enterprises at different stages of growth.
Key Features
Key Features
- Government Risk Sharing: This reduces the risk for banks, making them more willing to lend to SMEs, especially those that might otherwise face challenges in securing traditional financing.
- Maximum loan quantum of $500,000 per company with a tenor of 5 years and there will not be any early repayment penalty fee.
- Interest rates at it's lowest compared to Business Term Loan.
A Business Term Loan is a traditional form of business financing where a bank or lender provides your business with a lump sum of capital upfront. Its primary purpose is to fund significant, long-term investments or substantial one-time expenses for your business.
A Business Term Loan is a traditional form of business financing where a bank or lender provides your business with a lump sum of capital upfront. Its primary purpose is to fund significant, long-term investments or substantial one-time expenses for your business.
Key Features
Key Features
- Higher Loan Limits: Unlike Working Capital Loan that have fixed caps, Business Term Loans generally do not have an upper limit imposed by a scheme. This allows access to larger funds needed for substantial projects like expansion, major equipment purchases, or commercial property acquisition.
Competitive & Flexible Interest Rates: While interest rates vary based on your business's financial health and the specific bank, a Business Term Loan can offer very competitive rates. For businesses with a strong credit standing and a history of profitability, the interest rates can often be lower than, or comparable to, other loan types, including Working Capital Loans. This allows well-performing businesses to leverage their strengths for better financing terms.
DOCUMENTS REQUIRED FOR ASSESSMENT
Operating Corporate Bank Statements - Latest 6 months of submission date.
Credit Bureau Singapore (PG) - Latest within a month of submission date.
Financial Statements (Profit and Loss / Balance Sheet) - Latest 2 years report as of submission date.
Individual notice of Assessment IRAS (Income Tax from PG) - Latest 2 years Income Tax as of submission date.
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