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Budget 2016: SMEs can loan up to S$300k under new working capital loan scheme
A NEW SME Working Capital Loan scheme will be introduced for loans of up to S$300,000 per company, said Finance Minister Heng Swee Keat in Parliament on Thursday.
This measure, he added, will support viable SMEs that may have cash flow concerns or wish to continue growing their business.
The government will co-share 50 per cent of the default risk of such loans with participating financial institutions, to encourage lending to Singapore's SMEs.
Mr Heng said the new scheme will be available for three years, adding that this could catalyse more than S$2 billion worth of loans over this period.
- For more Budget stories, go to bt.sg/budget_16. For live analysis by commentators on our blog go to bt.sg/budget2016blog.