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If you are a company owner seeking SME grants in Singapore, we have the right business financing solutions for you. As part of our commitment to help SMEs, ETHOZ Capital is a participating financial institution for the Enterprise Financing Scheme (EFS) administered by Enterprise Singapore.
The purpose behind this Enterprise-initiated project is to assist and encourage the growth of locally-owned SMEs through SME loan in Singapore.
In partnership with Enterprise, we provide SME loans, which can be made available for factory or equipment upgrading, process automation and for purchase of new factory or business premises and finance lease (only applicable to JTC Corporation or HDB properties).
There is a range of business financing schemes in Singapore under EFS that SMEs can tap onto for different business needs.
Visit the Enterprise Singapore website for more information on the Enterprise Financing Scheme (EFS).
The SME Working Capital Loan is a scheme aimed at SMEs with Group revenue of up to S$100 million or maximum employment of 200 employees to provide funding capital for business operations. Eligible companies are able to apply for a maximum loan amount of S$300,000.
Under the umbrella of SME Fixed Assets Loan, we provide both SME Equipment Loan and SME Factory Loan as detailed below.
The SME Equipment Loan can be utilized by SMEs with Group revenue of up to S$100 million or maximum employment of 200 employees to secure funding up to S$15 million for equipment purchase or upgrading.
Similar to the SME Equipment Loan, the SME Factory Loan can be tapped by SMEs with Group revenue of up to S$100 million or maximum employment of 200 employees to secure loan amounts of up to S$15 million for the purchase of JTC Corporation or Housing & Development Board business properties.
Company D is a small-medium enterprise (SME) that does central food production for canteen operators. Things were going smoothly at the start, but as business continues to grow in the following 2 years, they find it very difficult to cope with the increased customer demand as their equipment capacities are fully utilised. In order to resolve this, they will require $100,000 to fund the upgrade of their equipment.
Unsure of the loan option, the owners of Company D approached ETHOZ Capital for financing solution. Being a 2 years old company with only five employees, ETHOZ recommended the SME Working Capital Loan to Company D for consideration to fund the upgrade of their machinery.
Upon agreement, ETHOZ waste little time in securing the funding for Company D. The whole process is quick and hassle-free. Thus, Company D is able to proceed with their machinery upgrade almost immediately – increasing the company’s food processing output and therefore sales.
ETHOZ has offered Company D the following terms:
Interest Rate : 5.5% effective rate
Monthly Repayment : $3,020 x 36 months
In this example, Company D pays $3,020 per month through taking up a SME Working Capital Loan. It does not have to put up any collateral to secure this loan while making it possible to upgrade their machinery to increase productivity.
* Disclaimer: Example above is merely shown for illustration purpose to better allow readers to understand the uses of each financing solution. Figures and interest rates listed above are not representative; it may differ based on each company’s requirements and management’s approval. Additional terms and conditions may also apply based on the credit assessment and evaluation conducted during application. ETHOZ Capital Ltd and its employees make no representation or warranty, whether expressed or implied, and accept no responsibility for the completeness or accuracy of the computation.
Talk to our Relationship Managers at 6654 7799 or email us to find out more!