Applications under Enterprise Financing Scheme

Debated in Parliament on 29 Feb 2024.

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Liang Eng Hwa asked about the number of companies that obtained financing under the Enterprise Financing Scheme over the last three years, the average amount borrowed, and how many applicants were unsuccessful.
Gan Kim Yong stated that from 2021 to 2023, over 23,300 companies obtained more than $21 billion in loans under the scheme.
Gan Kim Yong noted that the average amount borrowed varies across different types of loans, such as working capital, fixed asset, and trade loans.
Gan Kim Yong highlighted that the Government does not have data on rejection rates because loans are processed by participating financial institutions.

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Liang Eng Hwa

Mr Liang Eng Hwa asked 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.

Gan Kim Yong

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.

Summary written by AI (learn more)

Liang Eng Hwa asked about the number of companies that obtained financing under the Enterprise Financing Scheme over the last three years, the average amount borrowed, and how many applicants were unsuccessful.
Gan Kim Yong stated that from 2021 to 2023, over 23,300 companies obtained more than $21 billion in loans under the scheme.
Gan Kim Yong noted that the average amount borrowed varies across different types of loans, such as working capital, fixed asset, and trade loans.
Gan Kim Yong highlighted that the Government does not have data on rejection rates because loans are processed by participating financial institutions.

Questions identified by AI (learn more)

Applications under Enterprise Financing Scheme | PAPERCUTS

Applications under Enterprise Financing Scheme

Debated in Parliament on 29 Feb 2024.

Summary written by AI (learn more)

Liang Eng Hwa asked about the number of companies that obtained financing under the Enterprise Financing Scheme over the last three years, the average amount borrowed, and how many applicants were unsuccessful.
Gan Kim Yong stated that from 2021 to 2023, over 23,300 companies obtained more than $21 billion in loans under the scheme.
Gan Kim Yong noted that the average amount borrowed varies across different types of loans, such as working capital, fixed asset, and trade loans.
Gan Kim Yong highlighted that the Government does not have data on rejection rates because loans are processed by participating financial institutions.

Questions identified by AI (learn more)

Full Transcript

Liang Eng Hwa

Gan Kim Yong

Summary written by AI (learn more)

Liang Eng Hwa asked about the number of companies that obtained financing under the Enterprise Financing Scheme over the last three years, the average amount borrowed, and how many applicants were unsuccessful.
Gan Kim Yong stated that from 2021 to 2023, over 23,300 companies obtained more than $21 billion in loans under the scheme.
Gan Kim Yong noted that the average amount borrowed varies across different types of loans, such as working capital, fixed asset, and trade loans.
Gan Kim Yong highlighted that the Government does not have data on rejection rates because loans are processed by participating financial institutions.

Questions identified by AI (learn more)

Applications under Enterprise Financing Scheme

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Questions Identified

Full Transcript

Liang Eng Hwa

Gan Kim Yong

Summary

Questions Identified

Applications under Enterprise Financing Scheme

Summary

Questions Identified

Full Transcript

Liang Eng Hwa

Gan Kim Yong

Summary

Questions Identified