Schemes
Each figure is datedEvery row below was read from that scheme's own Enterprise Singapore page. Scheme terms are revised at each Budget, so a figure without a date is worthless.
Where a number is missingSeveral pages state only the shared borrower-group ceiling of S$50,000,000 and no separate per-borrower cap. Those say so, rather than borrowing the group figure and presenting it as a per-borrower limit.
What the government schemes actually offer.
The Enterprise Financing Scheme is not one loan, it is a set of facilities with different limits, tenures and risk shares. The government does not lend you the money. It carries part of the bank's loss if you default, which is what gives a bank room to say yes.
Six facilities, one scheme. Which one is yours?
The SME Working Capital Loan covers this. It reaches S$500,000 per borrower.
Every match comes from that facility's own Enterprise Singapore page, and it says where the facility stops as well as where it fits.
Read from Enterprise Singapore on 17 August 2026. Eligibility for the scheme itself is a separate test: check whether you qualify.
- Working capital
- S$500,000
- Fixed assets
- S$50,000,000
- Same scheme
- 100×
| Facility | Max per borrower | Max tenure | Risk share |
|---|---|---|---|
| SME Working Capital Loanread 2026-08-17 | S$500,000 | 5 years | 50% or 70%plus a time-limited window |
| SME Fixed Assets Loanread 2026-08-17 | Group ceiling only | 15 years | 50% or 70% |
| Trade Loanread 2026-08-18 | Group ceiling only | 1 year | 50% or 70% |
| Project Loanread 2026-08-18 | Group ceiling only | 15 years | 50% or 70%plus a time-limited window |
| Venture Debt Loanread 2026-08-18 | S$8,000,000 | 5 years | 50% or 70% |
| Mergers and Acquisitions Loanread 2026-08-18 | Group ceiling only | 5 years | 50% or 70% |
The higher risk share generally applies to young enterprises, and on some facilities to enterprises operating in a challenged market. All figures are also subject to the shared S$50,000,000 borrower-group ceiling across every EFS facility.
The 1 September 2026 to 31 March 2027 windowThe window that is about to openThe window that is open nowThe window that has closed
From 1 September 2026 to 31 March 2027, the government risk share on the SME Working Capital Loan and the Project Loan is raised to 70% for all enterprises, not just young ones. Verified on both scheme pages. Outside those dates an established business gets 50% and a young enterprise 70%.From 1 September 2026, the government risk share on the SME Working Capital Loan and the Project Loan rises to 70% for all enterprises, not just young ones, until 31 March 2027. Verified on both scheme pages. More risk carried by the government means more room for a bank to approve. If your timing is flexible, it is worth knowing the date.Right now the government risk share on the SME Working Capital Loan and the Project Loan is raised to 70% for all enterprises, not just young ones, until 31 March 2027. Verified on both scheme pages. That window is open, so this is the most risk the government will carry on you for a while.From 1 September 2026 to 31 March 2027 the government risk share on the SME Working Capital Loan and the Project Loan was raised to 70% for all enterprises. That window has closed, so an established business is back to 50% and a young enterprise to 70%. Check both scheme pages for any extension before you rely on it.
From 1 September 2026 to 31 March 2027, the Project Loan is not overseas-only. It also covers secured domestic construction projects, not only overseas ones. The Ministry of Finance announced this on 29 July 2026. Outside those dates a Project Loan needs an overseas project behind it.From 1 September 2026, the Project Loan also stops being overseas-only for a while. It will also cover secured domestic construction projects, not only overseas ones, in the same window, closing 31 March 2027. The Ministry of Finance announced this on 29 July 2026. It has not opened yet, so a Project Loan taken out today still needs an overseas project behind it.For now, the Project Loan is no longer overseas-only. It now covers secured domestic construction projects, not only overseas ones, in the same window, closing 31 March 2027. The Ministry of Finance announced this on 29 July 2026. The wider scope is live now.From 1 September 2026 to 31 March 2027 the Project Loan also covered secured domestic construction projects, not only overseas ones, as announced by the Ministry of Finance on 29 July 2026. That wider scope has ended, so a Project Loan taken out today needs an overseas project behind it again, unless the scheme page shows an extension.
The green facility is the odd one out
Green Loan carries 70% for all applicants, with no young-enterprise test, and it is open for applications until 31 March 2031. Its quantum and tenure follow whichever underlying facility you use.
Read 2026-08-18. Facilities showing tenure only are subject to the shared borrower-group ceiling rather than their own cap.
Borrowing from a foreign bank or a multilateral development bank
EFS-FFI/MDB (Foreign-based Financial Institutions / Multilateral Development Banks) exists to support Singapore enterprises to access finance from FFIs and MDBs when venturing overseas. Unlike every other facility on this page, its government risk share is a flat 50% with no enhanced window for young enterprises or a challenged market, and it has a hard closing date rather than a rolling one: applications must be submitted and approved by a participating institution by 31 March 2028.
Finance daily operational cashflow needs
Purchase of equipment and machinery, construction of factories or purchase of land overseas
Finance trade needs
Finance the fulfilment of secured overseas projects
Finance the mergers and acquisition of target enterprises and/or assets
Facilities showing tenure only share the S$50,000,000 ceiling with EFS and EFS-Green, not a separate cap of their own.
On rate, Enterprise Singapore states only this: Subject to participating FIs' assessment of risks involved. Only two institutions participate, African Export-Import Bank (Afreximbank) and Credit Europe Bank (CEB), and neither is a Singapore high-street bank. That is the practical catch: this facility does not run through a familiar local branch.
Read on Enterprise Singapore, 2026-08-20. Verbatim from that page on the deadline: All applications must be submitted and approved by a participating Financial Institution by 31 March 2028.
Is it a guarantee, and is it free?
Two things owners ask in almost these words, answered plainly before the scheme's own wording below.
Is this a government loan guarantee?
It is a risk share, which is not the same thing. The government does not guarantee your loan to you. It agrees to carry a share of the bank's loss if you default, and the bank still decides whether to lend and at what price.
Are these government interest free loans?
No. There is no interest free facility here and no capped one either. Enterprise Singapore's own words on the SME Working Capital Loan are: "Subject to the participating financial institution assessment of risk. No rate cap." So what you pay is whatever your bank quotes.
What a government risk share does not do
This is the part that costs owners the most, and it is quoted word for word from Enterprise Singapore.
Since Enterprise Singapore provides 70%/90% risk share on the loan, does it mean that the borrower/guarantors are only responsible for the remaining percentage of the loan?
No. The borrower and guarantors are responsible to repay 100% of the loan amount. When defaults occur, PFIs are obligated to follow their standard commercial recovery procedure, including the realisation of security, before they can make a claim against Enterprise Singapore for the unrecovered amount in proportion to risk-share.
Why do banks require a 100% Personal Guarantee (PG) when the government covers 70% of the loan amount?
A PG is not only a means of security but signals a commitment by the guarantor(s) that they are committed to the loan obligation.
One scheme you may still be offered, which no longer exists
The Temporary Bridging Loan was a COVID-era programme and its final extension ran to 30 September 2022. Several Singapore broker sites still advertise it. If someone offers it to you, their page has not been checked in years.
Enquiry
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Not sure which facility fits your business?
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