Enterprise Financing Scheme - SME Working Capital Loan (EFS-WCL)
· Last verified 23 Oct 2026Government risk-shared bank loan for an SME's day-to-day working capital, offered through Participating Financial Institutions (PFIs).
- Support
- Loan of up to S$500,000 per borrower, repayable over up to 5 years. EnterpriseSG normally shares 50% of the default risk, or 70% for young enterprises. From 1 Sep 2026 to 31 Mar 2027 the risk share is 70% for all enterprises. Interest is set by the bank.
- Maximum funding
- S$500,000
- How to apply
- Participating Financial Institution (e.g. DBS, OCBC, UOB, Maybank, CIMB, GXS) or ESIMS (esgincentives.enterprisesg.gov.sg)
- Apply before starting?
- No
Recent changes
The Budget 2026 'Business Refresh Package' set a S$50m maximum per borrower group across all EFS facilities from 1 Apr 2026. MOF's 29 Jul 2026 support package raised the risk share to 70% for all enterprises from 1 Sep 2026 to 31 Mar 2027.
Who is eligible
- Registered and operating in Singapore
- At least 30% local shareholding
- Group annual turnover of S$100,000,000 or less (for SME support rates)
- 200 or fewer employees (for SME support rates)
- ACRA-registered sole proprietorship, partnership, LLP or company
- SME: group revenue up to S$100m OR up to 200 employees
- The borrower group is limited to S$5m in EFS-WCL loans and S$50m across all EFS facilities
- Subject to the bank's credit assessment
Quick eligibility check
- 1. Is your business registered with ACRA and operating in Singapore?
- 2. Do Singapore citizens and/or PRs own at least 30% of your business?
- 3. Is your group revenue S$100m or less, OR do you have 200 or fewer employees?
- 4. Do you need the loan for working capital rather than buying fixed assets?
- 5. Is the total you need S$500,000 or less?
- 6. Can you repay within 5 years?
0 of 6 answered.
What it covers
- Working capital for daily operations
How to apply
- Approach a participating bank or financial institution
- Submit the bank's loan application with your financial documents
- The bank assesses your credit and grants the loan under the EFS risk share
Processing time: Depends on the bank
Claims: Not applicable. You repay 100% of the loan to the bank.
Documents you need
- Bank loan application form
- ACRA bizfile business profile
- Latest 1-2 years of financial statements / management accounts
- Recent bank statements (typically 6 months)
- Directors' / guarantors' NOA (income tax) and IDs
- Personal guarantee, as the bank requires
Frequently asked questions
What is the Enterprise Financing Scheme - SME Working Capital Loan?
Government risk-shared bank loan for an SME's day-to-day working capital, offered through Participating Financial Institutions (PFIs).
How much funding does EFS-WCL give?
Loan of up to S$500,000 per borrower, repayable over up to 5 years. EnterpriseSG normally shares 50% of the default risk, or 70% for young enterprises. From 1 Sep 2026 to 31 Mar 2027 the risk share is 70% for all enterprises. Interest is set by the bank.
Who is eligible for EFS-WCL?
Applicants must be registered and operating in Singapore, have at least 30% local shareholding, have group annual turnover of S$100,000,000 or less (for SME rates), have 200 or fewer employees (for SME rates). ACRA-registered sole proprietorship, partnership, LLP or company SME: group revenue up to S$100m OR up to 200 employees The borrower group is limited to S$5m in EFS-WCL loans and S$50m across all EFS facilities Subject to the bank's credit assessment
How do I apply for EFS-WCL?
Apply through Participating Financial Institution (e.g. DBS, OCBC, UOB, Maybank, CIMB, GXS) or ESIMS (esgincentives.enterprisesg.gov.sg). Processing time: Depends on the bank.
What documents do I need for EFS-WCL?
Bank loan application form; ACRA bizfile business profile; Latest 1-2 years of financial statements / management accounts; Recent bank statements (typically 6 months); Directors' / guarantors' NOA (income tax) and IDs; Personal guarantee, as the bank requires.
Sources
- Official page: https://www.enterprisesg.gov.sg/financial-support/enterprise-financing-scheme---sme-working-capital
- https://www.enterprisesg.gov.sg/financial-support/enterprise-financing-scheme
Information last verified on 23 Oct 2026. Grant rules change often. Always confirm with Enterprise Singapore before you apply.
