Loans of up to $15 million for all locally owned companies.
| Use of Funds |
For automating and upgrading factory and
equipment, and/or purchasing factory and
business premises (only JTC Corporation or
Housing & Development Board properties).
Expanded to include financing of more types
of construction equipment and heavy vehicles |
| Maximum Loan Quantum |
$15 million |
| Eligible Companies |
All locally owned companies |
| Interest Rate |
*Minimum 5% interest rate for loan tenure of 4
years and below.
*Minimum 5.5% interest rate for loan tenure of
more than 4 years. |
| * Subject to Participating Financial Institutions’ assessments of risks involved. |
You may apply for the Local Enterprise Finance Scheme if your company is locally-owned, with at least 30% local equity.
|
Banks
|
Contact Numbers
|
| DBS Bank Limited |
1800 222 2200 |
| Citibank |
6238 8833 |
| The Hongkong and Shanghai Banking Corporation Limited |
6216 9000 |
| Indian Bank |
6309 4379 |
| Maybank |
6550 7888 |
| Oversea-Chinese Banking Corporation Limited |
6538 1111 |
| RHB Bank |
6323 2001 |
| Standard Chartered Bank |
1800 743 3000 |
| The Bank of East Asia, Limited |
6602 7702 |
| United Overseas Bank Limited |
1800 2266 121 |
|
Finance Companies
|
Contact Numbers
|
| Hong Leong Finance Limited |
6415 9640 |
| Sing Investments & Finance Limited |
6305 0285 |
| Singapura Finance Limited |
6880 0633 |
|
Other Financial Institutions
|
Contact Numbers
|
| IFS Capital Limited |
6270 7711 |
| GE Commercial Financing (Singapore) Ltd |
6226 3822 |
| ORIX Leasing Singapore Ltd |
6339 3622 |
Before you apply
- Ensure that your business qualifies for the loan.
- Consult your banker or one of the LEFS Participating Financial Institutions. They will be able to give you professional advice and also assist your application.
- Prepare the supporting documents if your bank requires them :
- a copy of your business profile from ACRA
- audited accounts or certified financial statements
- bank statements
- personal income tax assessment of owners and directors
- Meet with your banker or financial institution. Bring the supporting documents for the meeting.
Applying for LEFS
- Obtain an Application Form from your banker or financial institution. Find out from the lender what supporting documents you need to attach.
- Submit the Application Form with the supporting documents.
- Wait 3 weeks for the bank or financial institution to reply. Processing of applications may be longer depending on the size of the loan and other factors.
Upon successful application
- Receive funds from the bank or financial institution.
- Keep proper records of repayments. Repayments start 1 month after disbursement of the loan.
- Ensure you make repayments on time.
For help on financial advice, please click here.