SME Working Capital Loan: Who Qualifies and What You Get

This scheme provides government-assisted financing designed to help small and medium-sized enterprises manage the cash flow needs required to keep their daily operations running smoothly.

👤Who it's for

This scheme is specifically intended for local small and medium-sized enterprises (SMEs) operating within Singapore. To be eligible, your business must meet the requirement of having at least 30% local shareholding. This ensures that the assistance is directed toward businesses with significant local ownership.

🎁What you get

Through this program, businesses can access government-assisted financing. This support is intended to assist with working capital, which refers to the money used to fund the everyday costs of running a company, such as managing inventory, paying suppliers, or covering short-term operational expenses.

💰What it costs you

While the scheme provides assistance, receiving the financing is not an automatic right. The actual cost and the approval of the funds are subject to a credit assessment conducted by the bank. You will need to go through the bank's standard evaluation process to determine your eligibility for specific terms.

⚠️The catch to know

The most important thing to prepare for is the requirement for a solid business track record. Because the financing is subject to credit assessments, your business must be able to demonstrate its history and stability to show that it can manage the financial commitment.

📝How to apply

1. Verify that your business meets the local shareholding requirement of at least 30%.
2. Gather your business financial records to demonstrate your track record.
3. Contact a participating bank to begin the formal credit assessment process.
4. Follow the specific documentation instructions provided by your bank during the assessment.
5. For more information on the scheme and its oversight, visit the official portal: https://www.enterprisesg.gov.sg