Trade Credit Insurance (TCI) is an insurance protection that your company can purchase to protect against non-payment by your buyers, thus allowing you to acquire new customers with greater confidence. The Trade Credit Insurance Scheme (TCIS) defrays the cost of insurance for companies by supporting part of the minimum premium payable.

Benefits

If your company qualifies, Enterprise Singapore can support up to 50% of the minimum insurance premium for TCI policies provided commercially by Singapore-registered credit insurers. This is subject to a maximum lifetime support of S$100,000 per qualifying Applicant Company.

Eligibility

Your company needs to fulfil the following criteria:

• Global headquarters¹ anchored in Singapore
• Turnover of Applicant Company and its subsidiaries should not exceed S$100
• A minimum paid-up capital of S$50,000

Political risks insurance (PRI) is an important tool for companies to safeguard their projects and/or investments in overseas markets against political uncertainties. Companies can also use PRI to unlock access to mid to long-term financing as it gives lenders additional assurance that the impact of political uncertainties over the performance of a project or investment has been mitigated.

With Political Risk Insurance Scheme (PRIS), qualifying Singapore companies can receive premium support for PRI policies. Enterprise Singapore will support 50% of the premium for up to the first three years of each PRI policy. This is subject to a maximum amount of S$500,000 per qualifying Singapore-based company.

A typical PRI policy covers risks such as:

• Expropriation
• Currency inconvertibility and transfer restrictions
• Political violence
• Breach of contract by host government
• Non-honouring of sovereign financial obligations

Eligibility

Companies applying for PRIS¹ should meet the following criteria:

• Global HQ² anchored in Singapore
• At least three strategic business functions³ in Singapore
• An annual turnover not exceeding S$500 million
• An annual total business spending⁴ of at least S$250,000 in Singapore for each of the past three years
• A minimum paid-up capital of S$50,000

Companies can secure short-term trade financing with the Loan Insurance Scheme (LIS), which insures the banks against insolvency risks of the borrowers. Loans are underwritten by commercial insurers, while a portion of the insurance premium is supported by the Government.

Companies can apply for the LIS to secure short-term trade financing lines such as:

• Inventory / stock financing facility
• Structured pre-delivery working capital
• Factoring / bill or invoice or accounts receivable discounting with recourse

Small and medium enterprises (SMEs) can apply loans of up to S$15 million through the Local Enterprise Finance Scheme (LEFS) to purchase equipment, machines or selected factory properties.

Enterprise Singapore shares the risk of loan defaults with Participating Financial Institutions in the event of company insolvency.

Fast growing and innovative companies can expand your operations with venture debt financing of up to S$6 million.

Introduced in October 2015, the Venture Debt Programme (VDP) serves as an additional funding option for SMEs where venture debt providers may combine loans with rights to purchase equity.

TO facilitate continued access to alternative financing, the VDP will be extended for another three years from 1 April 2018 to 31 March 2021.

Enterprise Singapore shares 50% of the risk of loan defaults with Participating Financial Institutions (PFIs) in the event of company insolvency interest rates, repayment structures, collateral and warrant structures will be determined by the PFIs.