Maybank Momentum Grant gets S$150,000 boost

[SINGAPORE] When non-profit organisation (NPO) Limitless received a grant of up to about S$150,000 from the Maybank Momentum Grant in 2021, the company saw it as an opportunity to expand its operations.

Since then, a fundraising arm was formed, and the grant amount was used to help the company “learn how to build a fundraising team, put in standards and procedures to build donation pipelines, as well as develop our outreach approach for fundraising,” said Asher Low, founder and executive director of Limitless. 

The organisation provides support to youth living with mental illness, and the amount received, Low said, “gave us extra bandwidth to embark on projects that we might not otherwise have the finances or extra reserves to embark on”.

Administered by The Majurity Trust, the Maybank Momentum Grant is Singapore’s first interest-free recyclable grant, launched in 2021. 

It is designed on a pay-it-forward model where grantee partners are encouraged to return the funds once financially stable, enabling support for other charities. 

The grant aims to uplift and transform such NPOs.

On Saturday (Aug 30), Maybank Securities Singapore announced that the grant was boosted by S$150,000. This comes as the bank’s investment banking arm donated its full-day trading proceeds on Thursday to the Maybank Momentum Grant.

The annual flagship charity initiative – Trade for Good – is in its third year. The project has raised more than S$400,000 in net proceeds to date. 

Guest of honour at Saturday’s event Murali Pillai, minister of state for transport and law, said: “When private sector resources combine with community expertise, and when strong legal frameworks enable effective governance, we create partnerships that can tackle our social challenges more effectively.”

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Aditya Laroia, chief executive officer of Maybank Securities Singapore, concurred and added that Trade for Good “is a reminder that the work we do in finance can have a real impact beyond the markets”.

Since its launch in 2021, the Maybank Momentum Grant has supported 20 social impact organisations.

As at August 2025, 10 social impact partners have paid forward S$582,500. The current pay-it-forward rate of the 2021 cohort is on track, and currently stands at 50 per cent of the awarded grants.

Charles Tan, senior director of philanthropy at The Majurity Trust, said the grant had helped strengthen organisational capabilities and improved the financial sustainability of the NPOs.

He added that “grantee partners have expanded their manpower, and some have also built new revenue streams and/or programmes”.

Five out of 12 eligible grantee partners attained Institution of Public Character (IPC) status, and 10 out of 13 grantee partners have attained financial growth over the period of two years.

Ivan Chin, CEO of Extra-Ordinary People, said: “The no-interest recyclable grant came at a pivotal point for us... it enabled us to keep our programmes running for the beneficiaries and families who depend on us, while allowing us to strengthen our financial and organisational foundations.”

The Singapore-registered charity and IPC which supports persons with special needs has also managed to grow its revenue streams since it received support in 2021.

Chin said: “Our approach is to allocate repayments prudently from our growing revenue streams – events fundraising and public fundraising. The grant will be paid off within three years.”

When asked on the benefits of such a grant, the CEO said: “Unlike conventional funding which is often earmarked or time-limited, a recyclable, no-interest grant provides both flexibility and dignity. It allows NPOs to make strategic decisions for their survival and growth, while fostering a culture of responsibility since funds are repaid and recycled to benefit others. 

“For the sector as a whole, it encourages innovation, sustainability, and shared accountability, which are also key ingredients in building a more resilient social impact ecosystem,” Chin added.

The Majurity Trust’s Tan said that 100 per cent of the funds paid forward by the social impact partners will go towards supporting more social impact partners.

Also, based on current repayment projections across the various cohorts, “we anticipate sufficient funds to continue supporting up to six more charities over the next two years”, he added.