The Productivity Solutions Grant (PSG) is aimed at small and medium enterprises or small to medium-sized enterprises (SMEs) in Singapore that are in need of funding to purchase productivity solutions such as IT equipment and software, information communications technology (ICT), equipment and services.
A full grant beneficiary receives a support level of up to 70% and a grant cap of S$30,000 per year. In addition, full grant beneficiaries are required to submit an annual performance assessment for a period of two years on the equipment and services funded by the grant, and are eligible for interest subsidies on the balance loan amount during the transition period.
Companies who qualify for this subsidy make monthly payments, but the department deposits greater interest amounts into their bank accounts each month.
Full grant recipients may additionally be eligible for financial management assessments and/or reports.
Bridging funding may also be made available to full grant recipients through the Productivity Solutions Grant until the completion of their next loan agreement is negotiated or completed.
SMEs must meet the following criteria:
Check out if your company is eligible for the PSG now!