Use this guide to quickly pick the right EFS loan type for your financing needs. If you need more detail, see the full EFS scheme guide.
Read This First
- EFS provides risk-sharing, not direct loans: EFS partners with Participating Financial Institutions (PFIs) to share up to 70% of default risk.
- All EFS loans require supporting internationalization: your project must demonstrate clear international business activities or growth potential.
- Venture Debt has a S$8M cap: if you’re raising growth capital for an innovative enterprise, Venture Debt maxes out at S$8M.
- Green loans need GBCF certification: your green project must be certified by the Green and Sustainability-Linked Finance Grant Scheme (GBCF).
Quick Decision Matrix
| Working Capital | Fixed Assets | Venture Debt | Trade | Project | M&A | Green | |
|---|---|---|---|---|---|---|---|
| Daily operational cashflow | ✓ | — | — | — | — | — | — |
| Purchase machinery/equipment | — | ✓ | — | — | — | — | — |
| Growth capital for innovative enterprises | — | — | ✓ | — | — | — | — |
| Finance international trade activities | — | — | — | ✓ | — | — | — |
| Secured overseas project | — | — | — | — | ✓ | — | — |
| Acquire a company with internationalization intent | — | — | — | — | — | ✓ | — |
| Finance green growth projects | — | — | — | — | — | — | ✓ |
| Get financing from overseas FI/MDB | — | — | — | — | — | — | — |
Legend: ✓ = Use this loan type | — = Not applicable
At a Glance
| Working Capital | Fixed Assets | Venture Debt | Trade | Project | M&A | Green | |
|---|---|---|---|---|---|---|---|
| Max loan | No fixed cap | No fixed cap | S$8M | No fixed cap | No fixed cap | No fixed cap | No fixed cap |
| Max risk share | 70% | 70% | 70% | 70% | 70% | 70% | 70% |
| Max tenure | 5 years | 10 years | 4 years | Varies | Varies | 10 years | 20 years |
| Special requirement | — | Domestic/overseas assets | Innovative enterprise | Trade activities | Secured project | Internationalization | GBCF certified |
Common Scenarios
- “I need cashflow for daily operations” → SME Working Capital Loan (for general operational needs)
- “I’m buying new machinery for my factory” → SME Fixed Assets Loan (for domestic or overseas equipment)
- “I’m a tech startup looking for growth capital” → Venture Debt (if you’re an innovative enterprise, max S$8M)
- “I need to finance my import/export activities” → Trade Loan (for international trade transactions)
- “I’ve won a major overseas construction contract” → Project Loan (for secured overseas project with revenue)
- “I’m acquiring a company to expand into a new market” → M&A Loan (for acquisition with internationalization intent)
- “I’m launching a green energy project” → Green Loan (must be GBCF certified)
- “I’m getting financing from an overseas bank” → Foreign-based FI/MDB Loan (for overseas financing support)
Before You Apply
- Check if you need internationalization: most EFS loans require clear international business activities
- Approach a Participating Financial Institution (PFI): EFS works through partner banks, not direct application
- Prepare financial documents: PFIs will assess your creditworthiness and project viability
- For Green Loans: ensure your project is certified under GBCF before applying
Decision Tree
Related Guides
- Grant Pitfalls Guide - Common pitfalls to avoid when applying for EFS loans
- Enterprise Financing Scheme (EFS) — full scheme overview and eligibility
- How to Choose? EFS vs EFS-VD - Use this matrix to choose between EFS Venture Debt and other financing options
- Enterprise Financing Scheme – Venture Debt (EFS-VD) — detailed venture debt eligibility and structure
- SME Overseas Expansion Grants — grants to complement your financing
- Singapore Grants Glossary
- EFS Quick-Start Checklist
Official Links
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