Collateral-free funding up to S$1,000,000
Competitive rates and flexible repayment terms of up to 5 years
Offered under the Enhanced Enterprise Financing Scheme, announced in Budget 2020
A business incorporated and operating in Singapore
At least 30% Singaporean or PR shareholding
Annual Sales of less than 500m for all companies in the group
Our Friendly RMs will walk you through the simple application process
Cash flow bridge
Ease cash flow gaps in your business with repayment terms up to 5 years
No collateral required
Enjoy unsecured lending supported by government risk sharing programme
Multiply’s parent company IFS Capital is a participating financial institution under Enterprise Singapore’s Enterprise Financing Scheme (EFS). The scheme will enable Singapore enterprises to access financing more readily throughout their various stages of growth, via a risk-sharing mechanism.
As announced at Solidarity Budget 2020, the enhanced EFS, raises the maximum loan quantum from $300,000 to $1 million. The Risk-share ratio was also increased to 90% (from 50% and 70% for young companies) for new applications initiated from 8 April 2020 until 31 March 2021.
No, the Enterprise Financing Scheme is designed to support companies across all industries throughout all stages of growth.
Yes you are still eligible. Our team will evaluate your ability to repay, taking into consideration all of your company financial obligations.
We will need
- 6-month monthly Bank Statements
- CBS report and NOA (2 years) of 2 PGs
- Photocopy of Directors/Owners NRIC (Passport for PRs / foreigners)
- M&A: Accept Original, CTC and Scanned copy.
No. The borrower is responsible for repayment of 100% of the loan amount. When defaults occur, the Participating Financial Institutions (PFIs) are obligated to follow their standard commercial recovery procedure, including the realisation of security, before they can make a claim against Enterprise Singapore for the unrecovered amount in proportion to risk share percentage.