Sole Proprietorships and Partnerships (SPP) Scheme

Credit Relief Support Measures For Sole Proprietors and Partnerships

Credit Counselling Singapore (CCS) has launched the Sole Proprietors and Partnerships (SPP) Scheme to help eligible businesses facing financial distress but are likely to recover given time.

With the support of The Association of Banks in Singapore (ABS), the Monetary Authority of Singapore (MAS), Enterprise Singapore (ESG) and the Participating Financial Institutions (PFIs) under the ESG loan schemes, the SPP Scheme targets sole proprietors and partnerships to help them restructure their business debts.

Under the SPP Scheme, individuals operating as Sole Proprietors or Partnerships may seek the assistance of CCS in restructuring their unsecured business debts owed to the participating banks and financial institutions. The Scheme allows for lower monthly instalment payment for unsecured business borrowings by extending the loan repayment period to up to a maximum of 8 years, with interest rate capped at 7% p.a..

To be eligible for the SPP Scheme, the following criteria apply:

1.   Businesses must be operating as sole proprietors or partnerships (excludes Limited Liability Partnerships and Sole Proprietorships/Partnerships that are owned by private limited companies);

2.   The firm’s total unsecured debt does not exceed S$1 million;

3.   The firm owes unsecured debts to two or more lenders; and

4.   The firm’s unsecured debts are owed to the participating lenders.


Applications for the SPP Scheme will be accepted from 2 November 2020.

1.   Attend our Business Debt Management Webinar to find out what options small enterprise owners facing financial distress can consider to address business debts, avoid bankruptcy and learn more about the SPP Scheme.

2.   Download the Business Credit Counselling Request Package, which is made available at the end of every webinar and on our website. 

3.  Once we have received your duly completed Business Credit Counselling Request Package and all the relevant supporting documents, we will inform you of your scheduled date/time to speak with our Financial Counsellors.

For further enquiries, you may email or contact our SPP Team at  6929 1928  (from Mondays to Fridays 9 am – 6 pm, except public holidays)

Apart from the SPP Scheme, businesses facing financial distress may also tap on other complementary support measures introduced by MAS to help individuals and Small and Medium-sized Enterprises (SMEs) facing cashflow difficulties.


Extended Support Scheme-Standardised (ESS-S).

Under this scheme, SMEs may opt to defer 80% of principal payments on their secured loans granted by banks or finance companies, as well as loans granted under ESG.

Extended Support Scheme – Customised (ESS-C).

This scheme facilitates the restructuring of SMEs’ loans across multiple banks or finance companies. The ESS-C is open to SMEs for whom the Simplified Insolvency Programme and the SPP scheme are not suitable.

Borrowers can apply for Extended Support Scheme-Standardised (ESS-S) and Extended Support Scheme-Customised (ESS-C) from 2 November 2020 onwards.

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Simplified Insolvency Programme

The Simplified Insolvency Programme assist micro and small companies that require support to restructure their debts to rehabilitate the business, or wind up the company as the business has ceased to be viable. The Programme’s application date will be announced at a later date by Ministry of Law (MinLaw).

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If you have questions about the SPP Scheme, please send us a message.

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