Enterprise Financing Scheme (EFS) - Trade Loan
The EFS-TL finances trade needs for domestic and overseas transactions. It is designed to help enterprises manage the financing requirements of their trading activities, from inventory management to receivables financing. The scheme supports a broad range of trade financing instruments. Supported trade financing types include inventory/stock financing, structured pre-delivery working capital, factoring (with recourse), bill of invoice, AR discounting, overseas working capital loan, and Bank Guarantee (capped at 2 years' tenure).
Eligibility Criteria
- 01
Business entity registered and operating in Singapore
- 02
At least 30% local equity held by Singaporeans/PRs
- 03
Group Annual Sales Turnover not exceeding S$500 million
- 04
Borrower group limit: S$20 million for EFS-TL
- 05
Overall exposure limit S$50 million per borrower group
How to Apply
1. Approach any Participating Financial Institution for EFS-TL 2. FI conducts credit assessment 3. Submit application via ESIMS portal (https://esgincentives.enterprisesg.gov.sg/) 4. EnterpriseSG processes the risk-share component 5. Loan disbursed by FI upon approval
Claims and Disbursement
EFS is a loan programme - borrowers repay 100% of the loan to the FI per agreed schedule. In event of default, after FI exhausts standard recovery procedures, FI may claim against EnterpriseSG for unrecovered amount in proportion to risk-share.
Frequently Asked Questions
Inventory/stock financing, structured pre-delivery working capital (revolving), factoring (with recourse), bill of invoice, AR discounting, overseas working capital loan, and Bank Guarantee (max 2 years).
Up to S$10 million per borrower (permanent from 1 April 2025 per Budget 2025).
Maximum 1 year repayment period.
50% (70% for young enterprises or challenged markets).
Yes, EFS-TL finances both domestic and overseas trade transactions.
Related Grants
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Up to S$30 million per borrower (S$30 million borrower group limit)
The EFS-FA is designed for SMEs to finance investments in domestic and overseas fixed assets. It supports long-term capital investments that help businesses upgrade their operations and expand their capacity through equipment, machinery, and property acquisitions. Supported asset types include purchase of equipment and machines for automation and upgrading (new or resale), and purchase or construction of government- and commercial-built factories and business premises (new or resale).
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The Capability Transfer Programme (CTP) aims to improve local-foreign workforce complementarity by facilitating transfer of capabilities from foreign specialists to locals. The programme encourages a culture of pervasive capabilities transfer across all sectors and entities, and supports companies/associations/professional bodies to develop and acquire new capabilities in Singapore by ensuring sufficient supply of locals with the requisite skillsets. The CTP complements existing capability development programmes administered by other Government agencies, to plug capability gaps quickly in today's fast-changing global market. This is a bespoke programme with no standard application form or fixed funding percentage - all project proposals are evaluated on a case-by-case basis.
Enterprise Financing Scheme (EFS) - SME Working Capital Loan
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Up to S$500,000 per borrower (S$5 million borrower group limit)
The EFS-WCL helps SMEs finance their operational cashflow needs for daily business operations. It is one of the most accessible EFS loan types, designed to support the day-to-day financial requirements of small and medium enterprises, including payroll, inventory purchases, and other recurring operational expenses. EnterpriseSG shares 50% (or 70% for young enterprises) of the loan default risk with Participating Financial Institutions, encouraging them to extend financing to enterprises that may otherwise face difficulties obtaining commercial loans.
Private Credit Growth Fund (PCGF)
Enterprise Singapore
S$1 billion fund providing non-dilutive, customised private credit financing
The Private Credit Growth Fund (PCGF) is a S$1 billion fund established to provide non-dilutive, customised financing for high-growth local enterprises. It addresses a significant gap in Asia's private credit market, where few funds focus on Singapore-based enterprises. The fund provides customised financing solutions that may not be readily available in Asia through traditional financing today. It supports growth activities such as international mergers & acquisitions (M&As) and large capital overseas expenditures, along with specialist advisory services in areas like M&A strategy, financial management, and supply chain improvement. The fund is complemented by a separate S$200 million Long Term Investment Fund (LTIF), which targets enterprises with longer or more complex growth trajectories.