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Standard Chartered is an active participant in many of the government’s SME financing schemes

Loan Insurance Scheme

Standard Chartered is an active participant in many of the government’s SME financing schemes

Enterprise Financing Scheme Trade (EFS Trade)

A government assisted scheme jointly administered by Enterprise Singapore to help Singapore-based companies to obtain trade financing facilities from participating financial institutions.

Features

Eligibility & Documents

Selling to Local Customers (Domestic Trade Facilities)

  • Companies applying for EFS (Enterprise Financing Scheme) should meet the following criteria:

    Selling to Local Customers (Domestic Trade Facilities)

    • Registered and operating in Singapore
    • 30% local shareholding
    • Borrower Group annual sales turnover of not <S$500 million*

    *Borrower Group refers to:
    1.   Applicant company (“Applicant”); and
    2.  Corporate shareholders of Applicant company holding >50% at all levels up (“Applicant’s Ultimate Parent Company”); and
    3.  Subsidiaries where the Applicant company holds >50% shareholdings and subsequent subsidiaries at all levels down; and
    4.  Subsidiaries where the Applicant’s Ultimate Parent Company holds >50% shareholdings and subsequent subsidiaries at all levels down.

  • Selling to Overseas Customers (Overseas Trade Facilities)
    • Global headquarters@ anchored in Singapore
    • At least 3 strategic business functions^ in Singapore
    • Annual sales turnover of applicant company and its subsidiaries ≤ S$300m for non-trading companies and ≤ S$500 million for trading companies#

    @ Global headquarters refer to global management control and decision making functions are based in Singapore. Indicators include global CXOs being based in Singapore, board meetings being held in Singapore, etc.

    ^ Strategic business functions refer to activities such as banking and finance, marketing and business planning, procurement, logistics, training & personnel management, investment planning / co-ordination, R&D and design, technical support, manufacturing, and other value-added (VA) activities.

    # An entity is considered a trading entity if more than 50% of its turnover is derived from buying and selling goods.

    • Companies applying for both types of facilities have to meet both set of criteria.

Documents Required

  • Audited financial statements must not be more than 6 months old. If audited financials are more than 6-months old at the time of application, it must be accompanied by recent signed management accounts
  • Latest audited financials / signed management accounts exhibit positive Net Profit Before Tax (NPBT)
  • EFS Application Form (Please access using Internet Explorer)
  • For more details, please click here for more information provided by Enterprise Singapore
  • Effective from 1st April 2021

    Companies get to enjoy up to 90% in premium rate subsidies from Government for EFS Trade Financing schemes.

    Applicable to all EFS Trade applications dated from 1st April 2021.

Disclaimer

All applications are still subject to, and conditional upon the Bank’s approval in the Bank’s sole discretion.

Deposit Insurance Scheme

Singapore dollar deposits of non-bank depositors are insured by the Singapore Deposit Insurance Corporation, for up to S$75,000 in aggregate per depositor per Scheme member by law. Foreign currency deposits, dual currency investments, structured deposits and other investment products are not insure