Enterprise Financing Scheme (EFS) - SME Working Capital Loan
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.
Eligibility Criteria
- 01
Business entity registered and operating in Singapore
- 02
At least 30% local equity held by Singaporeans/PRs
- 03
SME: Group revenue up to S$100 million OR maximum employment size of 200 employees
- 04
Group Annual Sales Turnover not exceeding S$500 million
- 05
Overall exposure limit S$50 million per borrower group
How to Apply
1. Approach any Participating Financial Institution for EFS-WCL 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, not a grant - borrowers repay 100% of the loan to the FI per agreed schedule. There is no "claims" process for borrowers. 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
Up to S$500,000 per borrower, with a borrower group limit of S$5 million for EFS-WCL.
Maximum repayment period is 5 years.
50% (70% for young enterprises formed within past 5 years).
Daily operational expenses including payroll, inventory purchases, rent, utilities, and other recurring operational expenses.
No, you must approach a Participating Financial Institution first. The FI conducts credit assessment and submits via ESIMS.