Micro Loan Programme

Features
Development Objectives
The Micro Loan Programme under the Local Enterprise Finance Scheme (LEFS) is a fixed interest rate financing programme designed to help the very small local enterprises gain better access to financing. The Micro Loan Programme is administrated by the Standards, Productivity and Innovation Board (SPRING Singapore) and is offered through the Participating Financial Institutions.

Eligible local enterprises can make use of the Micro Loan Programme to establish viable new businesses or expand their existing businesses. Loans under the Micro Loan Programme can be used to purchase machinery or equipment, renovate existing or new business premises and augment working capital needs.
Eligibility Criteria
To be eligible, a company must satisfy the following conditions:
a) It must have at least 30% local shareholdings.
b) It must have an employment size of not more than 10 workers.
In addition, the company's group fixed assets (at net book value) must not exceed S$15 million and if it is in the service industry, its group employment size must not exceed 200 workers.

NOTE:  
Publicly-listed SMEs and their subsidiaries will NOT be eligible to apply for the Micro Loan Programme (as this is meant for the small SMEs) even if they meet the criteria for Micro Loan Programme.

Types of Loan Facilities
The types of loan facilities under the Micro Loan Programme are as follows:
  • Machinery Term Loan
  • Machinery Hire Purchase
  • Renovation Loan
  • Working Capital Loan

    • The loan facilities can be structured as a term loan of up to 4 years.

    With effect from 1 Dec 2008, a maximum allowable 6 months grace period can be allowed within the loan period.

     
    Loan Terms
    The maximum loan limit under the Micro Loan Programme is S$100,000 per enterprise across all participating Financial Institutions with effect from 1 Dec 2008 under the enhancement measures on Business Financing Scheme.

    Interest rate and the requirement for collateral will be assessed by us on a case-by-case basis.
    Enquiry Form
    Fill up our online enquiry form and we will contact you shortly.
     
    Contact Information
    For more information and enquiries, you can contact us at tel: 1800-3388 338.