A helping hand
Business Times - 27 Jul 2006
1. Local Enterprise Finance Scheme (Lefs)
A fixed interest rate financing programme designed to encourage and assist local enterprises to upgrade, strengthen and expand their operations. Loans of up to $15 million are available for buying new machinery, upgrading existing equipment and for general working capital.
2. Local Enterprise Technical Assistance Scheme (Letas)
A scheme to help local enterprises defray costs incurred in modernising and upgrading their operations through the engagement of an external expert for a limited period of time. The government pays up to half the cost of engaging a consultant for short-ter m assignments such as improving a company's information technology or quality management systems.
3. Loan Insurance Scheme (LIS)
A scheme to encourage participating banks and other financial institutions to provide attractive loans to local enterprises through the use of loan insurance. A portion of the loans is insured against default risks, and the government pays 50 per cent of the insurance premium.
4. Enterprise Investment Incentive (EII) Scheme
A scheme designed to encourage private equity investments in start-ups by providing qualifying start-ups loss insurance for their investments. With EII status, a start-up can issue certificates to its investors for investments of up to $3 million. Investors with these certificates can deduct any investment loss from their taxable income.
5. Start-up Enterprise Development Schemes (Seeds)
Seed equity capital for start-ups. Every dollar raised by a start-up from third-party investors is matched by the government, up to a maximum of $300,000. Third-party investors must put in at least $50,000.
6. Growth Financing Programme (GFP)
A scheme to support early stage, Singapore-based growth companies that have the potential to become globally competitive enterprises. Potentially, every $2 raised by the growth company from third-party investors will be matched by $1 from the government, subject to a maximum of $1 million. Third-party investors must put in at least $500,000.
7. Innovative Commercialisation Scheme (ICS)
A funding scheme to encourage the development and commercialisation of innovative ideas. The government reimburses up to half the qualifying costs of supported projects, up to a maximum of $75,000.
8. Regionalisation Finance Scheme (RFS)
A fixed-cost financing programme to help Singapore-based enterprises set up operations overseas. Fixed rate loans of up to $10 million are available for acquiring fixed assets such as machinery and equipment and the construction of factories or buildings.
