What is the PSG Grant and How Can I apply for it [Updated Nov 2020]
Productivity Solutions Grant (PSG)
- What is the PSG Grant?
The Productivity Solutions Grant (PSG) is an initiative by the Singapore government to increase the adoption of IT solutions and other equipment to enhance the business processes of Singapore companies.
Solutions have been pre-scoped by the different government agenices and include solutions that support customer management, financial management, access control and inventory management.
In partnership with IMDA, PSG grant has also been expanded to include Bundled Laptop Solutions from 17th April 2020 till 31st December 2020.
Companies are eligible for the PSG Grant if they meet the following criteria
- Registered and Operating in Singapore
- Purchase/Lease/Subscription of IT solutions or other equipment to be used in Singapore
- Have a minimum of 30% local shareholding and Company’s Group annual sales turnover less than S$100million –OR- less than 200 employees (for selected solutions only)
In addition, employers who fulfil the above criteria can also qualify for additional subsidies under the Skills Future Enterprise Credits (SFEC) scheme.
To qualify for additional subsidies you must have at least
- Contributed at least S$750 Skills Development Levy (SDL) over the qualifying period
- Employed at least three Singapore Citizens or PR’s every month over the same period
- Have not been qualified for the SFEC at any of the earlier periods
- To be eligible for the M1 or Singtel laptop bundle, your account should also be in good standing with the respective telco.
Why have Equity Financing?
All busineses needs working capital to enable they day to day operations. If busineses do not have enough cashflow, it could mean a breakdown in operations, such as missing payroll and not paying suppliers or bills. Having the necessary cashflow enables you to carry out business operations smoothly and without interruption.
Equity Can help raise the cashflow needed by structuring a business loan for you. With our qualified specialists , the application is quick and simple and we do all the work between you and the banks. Upon an enquiry, we usually respond within 3-4 hours, so you can obtain financing quickly and easily.
Require a loan? Here’s why you should choose equity
Equity Financing can be used to purchase stocks and goods for upcoming projects. For example, a construction company has just been awarded a project for a building and the firm now requires to purchase the necessary equipment and materials needed. In addition, manpower costs also have to be paid for.
With the assistance of Equity Financing , this construction company can now carry out the project while servicing a low monthly installment for the business loan. Once the project has been completed, the business can decide to pay off the loan.
Equity Can help apply for a business loan for you with all banks in Singapore. With our qualified specialists , the application is quick and simple and we do all the work between you and the banks. Upon an enquiry, we usually respond within 3-4 hours, so you can obtain financing quickly and easily.
What is the Criteria to obtain Equity Financing in Singapore?
Equity Financing can be tricky, often than not, the business owner is an expert in all things related to his business. However, when it comes to financing, SME’s are unfamiliar navigating the different criteria and other requirements that the banks require.
Equity Can help cut through the red tape quickly and easily . With our experienced loan specialists , the application is quick and simple and we do all the work between you and the banks. Upon an enquiry, we usually respond within 3-4 hours, so you can obtain financing quickly and easily.
What is the best Bank To apply for Equity Financing?
There are many banks in Singapore offering equity finance. In fact, each bank has their own set of different criteria for the same product. This sometimes can be confusing for business owners.
Equity can help apply for equity financing for you quickly and easily and directly with the banks. We are familiar with the criteria and can get you financing. seamlessly and without all the red tape so you can concentrate on growing your business.
How It Works
- Make a Free Enquiry.
- An Equity financing specialist will reach out to you for some simple details.
- We work together with you for the documentation.
- You relax and we do the heavy lifting for you.
- We contact you when its approved for signing down the loan.