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COVID-19: MAS-SFA-AMTD FinTech Solidarity Grant 2020
Are you a FinTech company registered in Singapore? Are you a Singapore FinTech Association (SFA) member with a valid SFA FinTech Certificate? You may be eligible to apply for the MAS-SFA-AMTD FinTech Solidarity Grant!
To support Singapore-based FinTech companies amid this challenging business climate caused by the Covid-19 pandemic, the Monetary Authority of Singapore (MAS), SFA and AMTD Group have just announced a S$6 million grant - the MAS-SFA-AMTD FinTech Solidarity Grant.
The Grant aims to help FinTechs manage their cash flow better, support them in generating new businesses, and provide greater support for FinTechs to pursue growth strategies. This Grant also complements MAS’s $125 million support package for the fintech industry.
SFA is the grant administrator and will review and assess the applications.
MAS-SFA-AMTD FinTech Solidarity Grant
Business Sustenance Grant: To help Singapore FinTechs tide through this Covid-19 period and save jobs.
The overall cap is S$20,000, consisting of:
- Wage Support: Up to S$2,000 per local staff per month and S$1,000 per intern for 6 months
- Rental Support: Up to S$4,000 for up to 6 months for office space
Business Growth Grant: To foster the continued growth of Singapore-based FinTech companies and help them offset their POC costs through:
- 70% of Qualifying Costs: Up to $80,000 for expenses related to POCs/ Projects on APIX Platform
- 100% of Internship Funding: Up to $20,000 for fintechs with more than 30 staff, and $10,000 for fintechs with 30 staff or less
- Registered and in operation in Singapore for at least 3 months before grant application
- At least 2 or more core activities in Singapore
- SFA member with a valid SFA Fintech Certification
* Please note that only one application is allowed per company or Group of related companies
Application begins on 18th May 2020.
For more information, please visit https://singaporefintech.org/mas-sfa-amtd.
For any questions regarding the grant, email to firstname.lastname@example.org.
Not sure whether your company can be qualified for bank loans or alternative lending? Try our A.I assisted loan, and Smart Towkay team will send you a lending report within 24 hours' time. With the lending report, we aggregate and recommend the highest chance of approval be it with BANKS / FINANCIAL INSTITUTIONS or Alternative lenders like Peer to Peer Lenders or even B2B lender!
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