Government Grants & Loans For SMEs

26/06/2020

Government Grants & Loans For SMEs

Looking for funds to help your company with cash flows in the increasingly challenging economic conditions? Managing healthy cash flows has always been the critical success factors for many SMEs. And we have good news for you! There are various government grants and loans available with low costs of financing which companies can explore.

GOVERNMENT GRANTS AND SCHEMES

There are three initiatives under this grant administered jointly by WDA, NTUC & SNEF:

  • Age management grant
  • Work life grant
  • Job redesign grant

For more information, refer to here

For application of the work life grant, please contact us.

With PMETs (Professionals, Managers, Executives and Technicians) set to form the majority of our local workforce in the years ahead, our government aims to have more attention and resources dedicated to ensure that local PMETs across different age groups and income levels continue to remain relevant and gainfully employed, potentially within SMEs that can offer interesting and challenging career opportunities.

For more information, refer to here

 

The grant funds up to 70% of qualifying project costs such as third party consultancy fees, software and equipment, and internal manpower costs. It helps Singapore companies to grow and transform. This grant supports projects that help you upgrade your business, innovate or venture overseas, under three pillars: Core Capabilities, Innovation and Productivity, and Market Access.

For more information, refer to here

LOANS & OTHER FUNDINGS

The scheme is mainly for obtaining factory equipment and factory loans for business equipment or selected factory properties.

For more information, refer to here

Local SMEs with 10 or fewer employees can apply for micro loans of up to S$100,000.

For more information, refer to here

Local SMEs can apply for loans of up to S$300,000 under this scheme.

For more information, refer to here

The LIS helps companies secure trade finance loans from Participating Financial Institutions by insuring the institutions against insolvency risks of the company.

For more information, refer to here here

Local SMEs can apply for venture loans of up to S$5,000,000 for the purpose of business expansion.

For more information, refer to here

If you would like to have a customized solution for your business needs in terms of cash flows, please contact us.