Most Singapore SMEs start with the Enterprise Financing Scheme Working Capital Loan: up to S$500,000 per borrower, repayable over up to 5 years, with Enterprise Singapore sharing the lender’s risk. You apply through a participating bank, which decides on approval and the interest rate.
What the scheme offers
| Maximum loan | S$500,000 per borrower |
|---|---|
| Repayment period | Up to 5 years |
| Enterprise Singapore risk-share | 50%. 70% for young enterprises, meaning firms formed in the past 5 years with at least 1 employee and more than 50% individual ownership. From 1 Sep 2026 to 31 Mar 2027 the risk-share is 70% for all enterprises |
| Interest rate | Set by the participating lender |
| Your obligation | You repay 100% of the loan. The lender must follow its normal recovery steps before claiming on the risk-share |
Who can apply
- A business registered and operating in Singapore: ACRA-registered companies, sole proprietorships, partnerships and LLPs.
- At least 30% local equity held by Singapore citizens or permanent residents, by ultimate individual ownership.
- Group annual sales of up to S$500 million. For this scheme an SME has group revenue up to S$100 million or up to 200 employees.
How to apply
- Pick a lender. Enterprise Singapore lists the participating banks and financial institutions, including DBS and CIMB.
- Prepare your documents. Each lender sets its own list. Commonly it includes your ACRA business profile, recent financial statements and bank statements, and details of directors and shareholders.
- Apply to the lender. The lender assesses your business and decides. Enterprise Singapore does not lend directly.
Where applications slow down
- Figures in the financial statements that do not match the bank statements.
- An ACRA business profile or filing that is out of date.
- No clear explanation of what the money is for and how it will be repaid.
These are the points a lender checks first, so they are worth fixing before you apply. This is general guidance based on how lenders review applications, not a promise of approval.
If you are turned down
Ask the lender which part of the application fell short. A shortfall in records can often be fixed, and you can approach a different participating lender.
We help SMEs prepare for this step. See SME business loan help. We are not a lender, and approval is the lender’s decision.
Questions we often hear
Who is eligible for the EFS Working Capital Loan?
Businesses registered and operating in Singapore, with at least 30% local equity and group annual sales of up to S$500 million. Each lender still assesses your application.
How much can an SME borrow?
Up to S$500,000 per borrower under the scheme, repayable over up to 5 years. The lender decides the amount and the interest rate.
Where do I apply?
Through a participating bank or financial institution listed on the Enterprise Singapore page. Enterprise Singapore does not lend directly.
Sources: Enterprise Singapore: EFS SME Working Capital Loan, checked 29 Oct 2026.
