A Project Has The Following Cash Flows 0 250000 What Are The Alternative Financing Channels For SMEs? (Amended Version)

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What Are The Alternative Financing Channels For SMEs? (Amended Version)

The Singapore government has long been trying to cultivate the spirit of entrepreneurship among Singaporeans. But recognize the difficulties faced by SMEs in getting financing from banks; So many schemes have been introduced to help SMEs.

Government Assistance Schemes

There are many loan and insurance schemes co-funded by the government [specifically, IE (International Enterprise) Singapore and Spring Singapore] and administered by participating financial institutions. Visit the EnterpriseOne website for more information.

But, we are giving you a summary of these plans.

Springtime Singapore

Micro Loan Program (MLP)

  • A Singapore-registered firm with a minimum of 30% local shareholding and a maximum sales turnover of $1 million or 0 – 10 employees
  • The next maximum group turnover is $100 million or 0 – 200 employees
  • Maximum loan of $100,000
  • Can be used for daily operations or to automate and upgrade factories and equipment
  • Minimum 5.50% annual interest for loan tenure <=4 years

Local Enterprise Finance Scheme (LEFS)

  • Minimum 30% local shareholding and maximum group sales turnover of $100 million or 0 – 200 employees
  • Maximum loan $15 million
  • Factory loan
  • Machinery Term Loan / Hire Purchase of Machinery
  • 4.25% annual interest for loan tenure = 4 years and 4.75% annual interest for loan tenure > 4 years

Loan Insurance Scheme (LIS) and Loan Insurance Scheme Plus (LIS+)

  • For both local and foreign facilities
  • LIS insures your loan against default risks. Insurance premiums are co-shared between the government and your firm
  • For domestic trade: minimum 30% local shareholding and maximum group sales turnover of $100 million or 0 – 200 employees
  • For foreign trade: Singapore-based, with a minimum of 3 strategic business functions in Singapore and a maximum group turnover of $500 million ($300 million) for a trading (non-trading) company.
  • For LIS, 50% of the premium is payable
  • For LIS+, 1.5% annual premium is payable

IE (International Enterprise) Singapore

Internationalization Finance (IF) scheme

  • Company Size: For trading (non-trading) company the maximum group turnover is $500 million ($300 million)
  • Maximum loan $15 million
  • Asset-based financing: Loan ratio up to 90%. Maximum loan tenure up to 15 years (Land/Factory/Building) and 6 years (Other Fixed Assets)
  • To raise working capital for secured overseas projects/confirmed overseas sales orders
  • Structured Loan: Loan tenure and amount up to 3 years and 90% respectively
  • Banker’s Guarantee: Loan tenure and up to 5 years and up to 100% respectively

Trade Credit Insurance Scheme (TCIS)

  • Singapore-based exporter
  • LIS insures your goods in case of non-payment by buyers. Insurance premiums are co-shared between the government and your firm
  • Singapore-based, with at least 3 strategic business operations in Singapore, a maximum group turnover of $100 million, a minimum paid-up capital of $50,000, an annual gross business expenditure of at least S$250,000 in the last three years and at least three managerial staff who are Singapore citizens or PR
  • 50% co-sharing of insurance premium between the government and your firm (with a cap of $100,000)

alternative route

Still short of funds after applying for all eligible loans? Try to get funding from business angels or venture capitalists through dealflow connections.

Founded by Spring Singapore in 2007, Dealflow Connection (and now managed by DP Information Group) matches SMEs with individuals or organizations that have funding to offer, such as business angels or venture capitalists.

Visit Dealflow Connection to learn more.

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