SFA Consolidated Grants Portal

Featured Grants

MAS-SFA-AMTD Business Growth Grant

To foster the continued growth of Singapore-based FinTech companies and help the companies offset their POC costs. FinTechs must register and complete their profile on APIX, as well as carry out their POCs with any ASEAN based Financial Institution on APIX to be eligible for this grant

The Grant will help the FinTechs manage their cashflow better, support them in generating new businesses, and provide greater support for FinTechs to pursue growth strategies.

Cap of up to S$100,000 Per FinTech (Wage Support, Professional Services, Hardware & Software, Interns)

Application Closing on 31st December 2020

MAS-SFA-AMTD Business Sustenance Grant

To help SG Fintech tide through this COVID-19 period & save jobs.

The Monetary Authority of Singapore (MAS), Singapore FinTech Association (SFA) and AMTD Foundation (AMTD) have established a S$6 million MAS-SFA-AMTD FinTech Solidarity Grant to support Singapore-based FinTech companies amid the challenging business climate caused by the COVID-19 pandemic.

The Grant will help the FinTechs manage their cashflow better, support them in generating new businesses, and provide greater support for FinTechs to pursue growth strategies.

Cap of up to S$20,000 Per FinTech (Wage and Rental Support)

Application Closing on 7th June 2020

Financial Sector Technology and Innovation (FSTI) Digital Acceleration Grant (DAG)

The MAS Financial Sector Technology and Innovation (FSTI) Digital Acceleration Grant (DAG) scheme supports Singapore-based smaller financial institutions and FinTech firms adopt digital solutions to improve productivity, strengthen operational resilience, manage risks better, and serve customers better.

  • 80% co-funding of qualifying expenses for applications submitted by 31 Dec 2021.
  • 70% co-funding will apply thereafter.


Sustaining Investments

AMTD ASEAN Solidarity Fund $50 Mil- Sustainability Investment Scheme

This funding is intended for longer term support in the form of equity, convertible notes and/ or venture debt type of investments.

Under the investment scheme, AMTD will provide matching opportunities to FinTechs by co-investing alongside identified investment partners.

The Fund welcomes partnerships with existing equity and venture debt investors across Asia and calls for the broader investment community to collaborate and empower the level of support from this scheme

  • Equity, convertible notes and/or venture debt matching
  • Scheme will co-invest alongside identified investment partners
    All applicants must be located in ASEAN and fully on-boarded members of APIX
  • Due Dilligence will be conducted by the fund manager together with the identified partners or accredited investors


Razer Direct Investment $50 Mil

Singapore FinTech Association (SFA) and Razer Fintech will provide fintech companies in Singapore bridge financing, equity or equity-linked instruments ranging from US$100,000 to US$1.5 million (S$143,000 to S$2.1 million). The final sum depends on the fintech company's stage of growth and business requirements.

SFA Fintech Certified Members can apply through the SFA - Razer Collaboration Program 

US$100,000 to US$1,000,000 per investment


Manpower & Supporting Workforce

Finance Associate Management Scheme (FAMS)

MAS will double the salary support for FIs to hire SC fresh graduates or workers from other sectors and place them in talent development programmes under the Finance Associate Management Scheme (FAMS).

FAMS is a talent development tool to help groom Singaporeans for future specialist and management roles in the financial services industry through structured programmes offered by FIs

  • Grant amount of S$2,000 per month for every Singapore citizen hired onto the programme
    • This is applicable for cohorts hired in CY2020 and CY2021, and for applications submitted from 8 April 2020.
  • For programmes with elements of international exposure, S$5,000 per month or part thereof will be provided for the duration of the overseas attachment/posting (if applicable) for every Singapore citizen
  • Funding amount is capped at 2 years per programme


Training Allowance Grant (TAG)

MAS will launch a new Training Allowance Grant (TAG) to encourage FIs and FinTech firms to make use of the downtime in business activity, to train and deepen the capabilities of their employees.

The TAG will also be available to support Singapore Citizens (SCs) and Permanent Residents (PRs) outside of the financial services and FinTech sectors.

  • Course fee subsidy of 90% for SC/PR under IBF-Standards & Financial Training Schemes.
  • Training Allowance Grant (TAG) @ $15/hr for employers that send SC/PR for training.
  • Training Allowance Grant (TAG) @ $10/hr for self-employed and unemployed


Jobs Support Scheme

Under the JSS, the Government will help employers by paying 75% Wage Subsidy capped at first $4,600 for April salary, 25% for the rest of the months for every local worker in employment, for 9 months

Employers will receive three main JSS payouts in Apr, Jul and Oct 2020, with an additional payout in May 2020. The level of support each employer will receive depends on the sector in which the employer operates.

To support firms during the circuit breaker period, wage support for the months of Apr and May 2020 will be topped-up to 75% for all firms, regardless of sector.

Up to 75% of wages for first S$4,600 of wages, for April and May 2020. Future months based on specific industries

No Application Required

Professional Conversion Programme (PCP)

A placement programme to support companies in hiring and training of new hires (Professionals, managers, executives and technicians) to move across industries or redeployed into new job roles e.g. into accountancy.

Pre-approval is needed for the programme before hiring/ redeployment takes place.

Up to 70% of monthly salary, capped at $16,000 per hire


Place and Train Programme (PNT)

A placement programme to support companies in hiring and training local non-PMETs in relevant skills to take on new job position(s) and be deployment ready.

Pre-approval is needed for the programme before hiring takes place.

Up to 70% of monthly salary, capped at $12,000 per hire


Wage Credit Scheme

Through the Wage Credit Scheme, the Government provides businesses with co-funding support for wage increases made to their employees. This would allow businesses to free up resources to invest in productivity, and to share productivity gains with their employees. 

  • 20% of qualifying wage increases in 2019
  • 15% of qualifying wage increases in 2020

By End June 2020 for 2019 wage payouts, and supplementary payouts thereafter

Manpower Training

SkillsFuture Singapore (SSG) provides course fee subsidies and absentee payroll for a wide range of approved courses to support employers in sending their employees for training.

In view of the worsening COVID-19 situation and the increasingly uncertain economic outlook, SSG will further enhance training support measures to provide greater help to companies.

Please refer to Website for more details


Salary Support for Recent Graduates

SGUnited Traineeships Programme provides 80% co-funding of training allowance for recent graduates from ITE, Polytechnics and Universities.

Please refer to website for more details


Startup Talent Factory

Startup Talent Factory offers up to $12,000 salary subsidy grant for new and existing poly grad hires

Up to S$12,000 subsidy for new and existing poly grad hires


Enhanced Support for Training

The support package includes:

a. Enhanced Course Fee Subsidy and Expansion of Training Scheme to Eligible FinTech firm and Single-Family Offices

b. New Training Allowance Grant (TAG)

c. Doubling of monthly salary support under the Finance Associate Management Scheme (FAMS)

  • Course fee subsidies for IBF-STS and FTS programmes raised to 90% until 31 December 2021
    Additional IBF Credit of 5% to offset course fees until 31 December 2020
  • Grant cap per participant per course: S$7,000 for IBF-STS, and Grant Cap of S$2,000 for FTS.
  • Company-sponsored individuals (SC/PRs) pay net course fees.


Business Cost & Managing Cash Flow

Assistance with Insurance Premium Payment

Corporates, including SMEs, holding general insurance policies that protect their business and property risks may apply to their insurer for instalment payment plans.

General insurance companies stand ready to work with their corporate customers so they can pay their premiums in smaller amounts and enjoy coverage for the paid-up period, instead of paying a lump sum premium for the entire policy period at the start

SMEs should contact their Insurers directly for more information on their specific assistance schemes


Temporary Bridging Loan Programme (TBLP)

The Temporary Bridging Loan Programme (TBLP) provides access to working capital for business needs.

As announced at Solidarity Budget 2020, eligible enterprises may borrow up to $5 million under the TBLP, with the interest rate capped at 5% p.a., from Participating Financial Institutions (PFIs). The Government will provide 90% risk-share on these loans for new applications initiated from 8 April until 31 March 2021. 

Eligible enterprises under the TBLP may also apply for up to 1 year deferral of principal repayment to help manage their debt, subject to assessment by the PFIs.

Maximum Loan Quantum of S$5 million per Borrower Group, capped at an interest rate of 5% p.a.

March 2020 to 31 March 2021

Defer Payment of Principal on Secured SME Loans

SMEs may opt to defer principal payments on their secured term loans up to 31 December 2020, subject to banks’ and finance companies’ assessment of the quality of the SMEs’ security.  SMEs will also be able to extend the tenure of their loans by up to the corresponding principal deferment period if they wish. This relief will be available to SMEs that continue to pay interest and are in good standing with their banks and finance companies (not more than 90 days past due as of 6 April 2020)

Up to S$1,000,000 per Borrower, over a maximum repayment period of 5 years

Up to 31st December 2020

Deferment of Income Tax Payments

All companies with CIT payments due in the months of April, May, and June 2020 will be granted an automatic three-month deferment of these payments. The CIT payments deferred from April, May, and June 2020 will instead be collected in July, August, and September 2020 respectively

Automatic Deferment, no actions needed

April, May, June 2020

Offset Rental Costs

Discounts on leases in specific venus will be available for FinTechs to make use of.

  • 50% discount for new leases for FinTechs at Bridge+ 
  • Temporary rental relief for existing tenants at 80RR FinTech Hub SG


Bolstering Sales

Productivity Solution Grant

The Productivity Solutions Grant (PSG) supports companies keen on adopting IT solutions and equipment to enhance business processes.

PSG covers sector-specific solutions including the retail, food, logistics, precision engineering, construction and landscaping industries.

Other than sector-specific solutions, PSG also supports adoption of solutions that cut across industries, such as in areas of customer management, data analytics, financial management and inventory tracking.

  • The maximum funding support level will be raised to 80% from 1 April 2020 to 31 December 2020.
  • Registered and operating in Singapore
  • Purchase/lease/subscription of the IT solutions or equipment must be used in Singapore
  • Have a minimum of 30% local shareholding (for selected solutions only)


Enterprise Development Grant

The Enterprise Development Grant (EDG) helps Singapore companies grow and transform. This grant supports projects that help you upgrade your business, innovate or venture overseas, under three pillars: Core Capabilities, Innovation and Productivity, and Market Access.

  • As announced at Supplementary Budget 2020, the maximum support level will be raised to 80% from 1 April 2020 to 31 December 2020.
  • Be registered and operating in Singapore
  • Have a minimum of 30% local shareholding
  • Be in a financially viable position to start and complete the project


APIX Cares

In support of APIX Cares, the Monetary Authority of Singapore (MAS) will provide all Singapore-based FinTech firms six months’ free access to APIX.

Through APIX, FinTech firms and FIs can integrate and test solutions via our cloud-based architecture. Existing Singapore-based FinTechs that are commercially onboard APIX will also have their subscription extended until 31 December 2020

Free 6 months access to the APIX platform 

Sign up on the APIX platform by 31st December 2020

Financial Sector Technology and Innovation (FSTI) Proof-of-Concept (POC) Scheme

The MAS Financial Sector Technology and Innovation (FSTI) Proof of Concept (POC) scheme provides funding support for experimentation, development and dissemination of nascent innovative technologies in the financial services sector. The FSTI scheme is valid till June 2020. 

Up to 70% of qualifying costs (dependent on project type), capped at $200,000, for up to 18 months

FSTI Scheme is valid to June 2020

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