Question

Mr Liang Eng Hwa: To ask the Minister for Trade and Industry in the last three years (a) what is the number of companies that have obtained financing under the Enterprise Financing Scheme; (b) what is the average amount borrowed; and (c) how many applicants are unsuccessful.

Written Answer by Minister for Trade and Industry Gan Kim Yong

1. From 2021 to 2023, over 23,300 companies obtained more than $21 billion in loans supported by the Enterprise Financing Scheme (EFS). The average amount borrowed varies across the different types of EFS facilities, such as working capital, fixed asset, and trade loans. As EFS loans are processed by participating financial institutions, the Government does not have data on rejection rates.