About SME Financing in Singapore 关于新加坡中小企业融资
SME financing is the funding of small medium enterprises (SMEs) through small business loans. In Singapore, the economy is driven by small and medium sized enterprises which make up about 99% of all enterprises. 中小企业融资是中小企业通过小企业贷款进行融资的一种方式。新加坡的经济是由中小企业带动的，约占企业总数的99%。
Naturally, SME financing accounts for a major segment of the business financing market, where working capital is disbursed to companies through a variety of SME loan products. 自然，中小企业融资占据了企业融资市场的一个主要部分，企业通过各种中小企业贷款产品向企业支付营运资金。
It is often said that cash flow is the lifeblood of a company. If asked, most accomplished business owners will tell you that while revenue and profit margins are important, it is cash flow that can make or break a business. This is why the need for small business financing remains as an evergreen concern for most business owners. 人们常说现金流是公司的命脉。如果被问到这个问题，大多数成功的企业主都会告诉你，虽然收入和利润率很重要，但现金流才是决定企业成败的关键。这就是为什么对小企业融资的需求仍然是大多数企业主长期关注的问题。
While the need for small business funding has not changed over the years, the access and options that are now available to business owners are vastly different. Besides the traditional banks and financial institutions that still provide the majority of business loans in Singapore, the rise of financial technology (Fintech) is fast making its presence known as an alternative source of business financing. 虽然多年来对小企业融资的需求没有变化，但企业主现在可以获得的融资渠道和选择却大不相同。除了在新加坡仍然提供大部分商业贷款的传统银行和金融机构外，金融技术(Fintech)的兴起正迅速使其作为商业融资的替代来源而为人所知。
Within the ranks of fintech start ups are the peer-to-peer lending and crowdfunding platforms that share a common goal of disrupting the lending space. Through the use of advanced technology that make the financing process seamless and much faster, these fintech companies are starting to make waves among the small and medium enterprises in Singapore. 在金融科技初创企业的行列中，P2P贷款和众筹平台有着一个共同的目标，那就是颠覆贷款领域。通过使用先进的技术，使融资过程无缝衔接，并大大加快，这些金融科技公司开始在新加坡中小企业中掀起波澜。
Enterprise Singapore新加坡企业发展局
On the 1st of April 2018, International Enterprise Singapore and SPRING Singapore merged to form a single entity called Enterprise Singapore. 2018年4月1日，“新加坡国际企业发展局”和“新加坡标新局”合并成立“新加坡企业发展局”。
Enterprise Singapore was formed to carry on the combined work of both SPRING Singapore and International Enterprise Singapore — to be the one agency to champion enterprise growth and development in Singapore. 新加坡企业发展局成立的目的是承接新加坡标新局和新加坡国际企业发展局的工作，成为新加坡唯一支持企业成长和发展的机构。
As an embodiment of the government’s efforts to help enterprises stay nimble and competitive in an era of rapid change and technological advancements, Enterprise Singapore is always committed to helping companies build new capabilities, enhance innovations and internationalise to cover new markets. 作为政府努力帮助企业在快速变化和技术进步的时代保持敏捷和竞争力的体现，新加坡企业发展局始终致力于帮助企业建立新的能力，加强创新和国际化，以覆盖新的市场。
Along with that, Enterprise Singapore has also partnered with many participating banks and financial institutions to launch a wide range of SME loan products at very affordable interest rates, where Enterprise Singapore co-shares 50% of loan default risks in the event of company insolvency. This was done in an effort to create a more robust SME lending culture in Singapore, and to make SME financing more accessible to companies in Singapore. 与此同时，新加坡企业发展局也与许多参与的银行和金融机构合作，推出了一系列利率非常低廉的中小企业贷款产品，在企业资不抵债的情况下，新加坡企业发展局共同承担50%的贷款违约风险。这样做是为了在新加坡创造一个更强大的中小企业贷款文化，并使中小企业融资更容易在新加坡的公司。
SPRING Singapore 新加坡标新局
Back in 2012, SPRING Singapore was launched to function as the one-stop government agency to advocate for enterprise growth and development. SPRING Singapore was the abbreviation for the Standards, Productivity, and Innovation Board. 早在2012年，新加坡标新局就成立了一站式政府机构，倡导企业成长和发展。新加坡标新局是标准、生产力和创新局的缩写。
Over the years, it is clear to see that SPRING Singapore had played a significant role in helping to nurture the pro-business environment that we have in Singapore today. On top of that, SPRING has also helped to facilitate the overseas expansions of many companies, and helped to make access to working capital SME loans a much easier task for small business owners today. 多年来，我们清楚地看到，新加坡标新局在帮助培育我们今天新加坡的亲商环境方面发挥了重要作用。除此之外，新加坡标新局还帮助促进了许多公司的海外扩张，并帮助中小企业获得流动资金贷款，这对于今天的小企业主来说是一项容易得多的任务。
Back a little further to 1983, International Enterprise Singapore (IE) was an agency that was launched by the government to help local companies with overseas growth, and to encourage international trade in the process. 早在1983年，新加坡国际企业局是政府发起的一个机构，旨在帮助本地公司实现海外增长，并在此过程中鼓励国际贸易。
Fast forward till 2018, SPRING and IE merge to form Enterprise Singapore. 快进到2018年，新加坡标新局和新加坡国际企业局合并成立了新加坡企业发展局。
Enterprise Singapore works hard to fill the giant shoes once worn by SPRING, and continues forging ahead to establish more bank and financial institution partnerships. From start-ups to seasoned businesses, Enterprise Singapore aims to provide both financial help and industry expertise to whoever needs it. 新加坡企业发展局正在努力填补新加坡标新局的巨大缺口，并继续向前迈进，建立更多的银行和金融机构合作伙伴关系。从初创企业到经验丰富的企业，新加坡企业发展局旨在为任何需要帮助的人提供财务帮助和行业专业知识。
Government Assisted Financing Schemes 政府资助的融资计划
In 2016, SPRING Singapore (now known as Enterprise Singapore) launched a suite of SME loan financing schemes, fronted by the SME Working Capital Loan and SME Micro Loan programs. Through these schemes, SPRING expected to create upwards of $2 billion in business financing over 3 years. 2016年，由中小企业营运资金贷款和中小企业小额贷款项目牵头的“新加坡标新局”(今新加坡企业发展局)推出了一系列中小企业贷款融资计划。通过这些计划，新加坡标新局有望在3年内创造20亿美元以上的商业融资。
Under the scheme, Singapore-registered companies may apply for unsecured term loans with the participating banks and financial institutions. SPRING Singapore acts as part-guarantor to the loans, making the business loans more accessible and ensuring that the loan rates are affordable for SMEs. 根据该计划，在新加坡注册的公司可向参与计划的银行和金融机构申请无担保定期贷款。新加坡标新局作为这些贷款的部分担保人，使企业贷款更容易获得，并确保中小企业能够负担得起贷款利率。
Due to the relatively small size of operations, SMEs often face difficulty in obtaining loans. Even if they are able to, the approved amounts are often insufficient. SPRING aims to mitigate the problem by co-sharing a significant portion of the default-risk. In this way, the credit risk is floored for the participating lender, allowing them to issue the loan and at an attractive rate. 由于中小企业的经营规模相对较小，往往面临贷款难的问题。即使他们有能力这样做，批准的数额通常也不够。新加坡标新局旨在通过共同分担很大一部分违约风险来缓解这一问题。这样一来，参与贷款的银行的信用风险就降低了，从而使他们能够以有吸引力的利率发放贷款。
Enterprise Singapore hopes that the various enterprise financing schemes will relieve short-term financial pressure, allowing businesses to grow and take advantage of new opportunities. The loan programs are especially important in light of the recent economic slump. Easier access to business financing would provide much needed support for SMEs. 新加坡企业发展局希望各种企业融资计划能缓解短期的财务压力，让企业成长，并利用新的机会。鉴于最近的经济衰退，贷款计划尤为重要。更容易获得商业融资将为中小企业提供急需的支持。
Types of SPRING Enterprise Financing Schemes (EFS): 新加坡标新局企业融资计划（EFS）的类型有：
- SME Working Capital Loan 中小企业营运资金贷款
- SME Micro Loan 中小企业微贷款
- SME Venture Loan 中小企业贷款风险
- SME Equipment and Factory Loan 中小企业设备和厂房贷款
- Bridging Loan for Marine and Offshore Engineering Companies 为船舶和海上工程公司提供的过渡性贷款
- Internationalisation Finance Scheme (IFS) 国际化融资计划(IFS)
- Loan Insurance Scheme (LIS) 贷款保险计划(LIS)
- Political Risk Insurance Scheme (PRIS) 政治风险保险计划
- Trade Credit Insurance Scheme (TCIS) 贸易信贷保险计划
Other Business Financing Solutions 其它企业融资解决方案
Other than the small business loan schemes launched by Enterprise SG, there are many other corporate financing facilities that you can go for. Choosing the right financing product for your business is essential. 除了新加坡企业发展局推出的小企业贷款计划外，还有很多其它的企业融资工具可供选择。为您的企业选择合适的融资产品是至关重要的。
Here is a list of other business financing solutions that you can consider: 以下是你可以考虑的其他商业融资方案:
- Invoice Financing/Factoring 发票融资、保理
- Trade Financing 贸易融资
- Business Overdraft Facility 商业透支法
- Invoice Financing / Factoring 发票融资/保理
Also known as Receivables Financing, Invoice Financing is a facility that allows you to sell your unpaid invoices at a discounted rate to a financier for cash upfront. 也被称为应收账款融资，发票融资是一种工具，它允许你以折扣价将未支付的发票出售给融资人，以获得预付现金。
There are 2 types of invoice factoring – disclosed and undisclosed. 发票保理业务分为公开保理和不公开保理两种。
Disclosed factoring involves the financier notifying your customer that they have taken ownership of your invoice, where your customer will be make payment directly to the financier. This is the preferred method of invoice factoring for most financiers as the process is straight forward and carries less risk. 公开保理业务涉及融资人通知您的客户，他们已经取得了您的发票的所有权，您的客户将直接向融资人付款。这是大多数融资人首选的发票保理方法，因为这一过程很简单，风险较小。
Undisclosed factoring entails the debtor being unaware of the involvement of a third party financier, where the debtor will make payment to a joint account between you and the financier. In order for the lender to remain in the shadows, the joint account will bear your company’s name, but will be under the control of the financier. Interest rates for undisclosed factoring is usually higher than disclosed factoring as the lender bears more risk. As you would have guessed, the process for undisclosed factoring is also a lot slower. 不公开保理是指债务人不知道第三方融资人的参与，在第三方融资人的参与下，债务人将向你和融资人之间的一个共同账户支付款项。为了让贷款人不被发现，联名账户将使用你公司的名字，但由融资人控制。不公开保理业务的利率通常高于公开保理业务，因为贷款人承担的风险较大。正如您所猜测的，不公开的保理过程也要慢得多。
With invoice factoring, the financier buys over your invoice for up to 90% of its value. Your customer will make payment directly to the lender, where the lender charges an interest and returns the remainder to you. 使用发票保理，财务人员购买超过你的发票高达其价值的90%。您的客户将直接向贷款人付款，贷款人收取利息，并将余款退还给您。
If your business involves extending credit terms to your customers, invoice financing could be an ideal financing facility for you, especially if your customers are big and reputable companies. 如果你的业务涉及到向你的客户延长信贷期限，发票融资可能是一个理想的融资工具，特别是如果你的客户是大型和信誉良好的公司。
During credit assessments, lenders will place a heavier emphasis on the quality of your debtor’s credit profile as it is your debtor that will be the one to be making payment ultimately. 在信用评估期间，贷方会更加重视债务人的信用状况，因为最终付款的将是债务人。
- Trade Financing 贸易融资
Trade financing is the financing of international and domestic trade cycles through the use of various credit instruments. In Singapore, banks and financial institutions usually only offer import financing products. This is because the risk of export financing can be potentially higher than import financing. 贸易融资是通过使用各种信贷工具为国际和国内贸易周期提供融资。在新加坡，银行和金融机构通常只提供进口融资产品。这是因为出口融资的风险可能高于进口融资。
Trade finance in Singapore, in terms of import financing, is essentially a revolving credit line that your company can use to purchase goods for inventory and raw materials for your business. 在新加坡，贸易融资，在进口融资方面，基本上是一个循环信用额度，你的公司可以用它来为你的企业购买存货和原材料。
With a trade credit facility, the financier grants you with a credit line that you can draw down on and utilize to make purchases of raw material and inventory for your business. 有了贸易信用额度，融资人就会给你一个信用额度，你可以利用这个额度为你的企业购买原材料和库存。
When a purchase order is issued by your supplier, the bank or financial institution will make a direct payment to your supplier on your behalf, where you will then have a term of 120 days to repay the bank. 当您的供应商发出采购订单时，银行或金融机构将代表您直接付款给您的供应商，您将有120天的期限来偿还银行。
- Business Overdraft Facility 商业透支法
A business overdraft facility (OD) is an unsecured line of credit that you can draw down on to utilize for expanding cash flow. Unlike the trade import financing facility, the business overdraft facility does not restrict how you can to use the additional funds. As a matter of fact, you can withdraw cash anytime you want and use it in anyway that you want. 商业透支额度(OD)是一种无担保的信用额度，你可以利用它来扩大现金流。与贸易进口融资安排不同，商业透支安排并不限制您如何使用额外资金。事实上，你可以随时取钱，想怎么用就怎么用。
A great feature of the overdraft facility is that you only need to pay for what you use. The pay-per-use feature provides you with flexibility to utilize the credit line only when you need to, without the need to pay a retainer fee. 透支便利的一大特点是你只需要为你所使用的东西付费。按使用量付费的功能为您提供了灵活性，可以只在需要时使用信用额度，而无需支付预付费用。
You will only have to pay an interest on the amount that you have drawn down. Similar to the trade financing facility, you will also have a period of 120 days to repay the amount that you have drawn down plus interest. 你只需要为你的存款支付利息。与贸易融资安排类似，您还将有120天的期限来偿还您所提取的金额和利息。
The overdraft facility for business can be a great solution for short-term cash flow utility, but should never be used as a long-term business financing solution. Interest accrued on an OD line will roll over and compound, which can be very costly over time. 商业透支工具可以是短期现金流效用的一个很好的解决方案，但不应该用作长期商业融资解决方案。累积在透支线上的利息会滚动和复利，随着时间的推移，这是非常昂贵的。
