SME Working Capital Loan (WCL)

At the Singapore Budget 2016, the Finance Minister announced a new loan scheme, the SME Working Capital Loan (WCL), to support viable SMEs that may have cash flow concerns or wish to continue growing their business for a period of three years.

Local SMEs can apply for loans of up to S$600,000 under this scheme for loan tenure of up to five years. The interest rate is subject to assessment of risks involved.

To help SMEs access the working capital loans, SPRING shares the risk of loan defaults with Participating Financial Institutions (PFIs) in the event of company insolvency.

Companies applying for the SME WCL should meet the following criteria:

  • Company registered and operating in Singapore
  • At least 30% local shareholding
  • Annual sales ≤ S$1m or ≤ 10 employees
  • Group annual sales of ≤ S$100m or group employment size ≤ 200^

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