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8 FAQs about SME-First Program and why you should read it

· SMEs,Grants,Financing

We have received lots of questions about SME-First Financing Program. Some of it which we will answer here.

A) What can be covered?

Any work to do with simple digitalisation can be covered (i.e Building an E-Commerce platform, Building an APP, Building a WeChat OA, Building a simple SAAS).

B) What is the process?

The below is in chronological order;

  1. We check your eligibility
  2. We make a time to see you Face-to-Face to submit the financing application. We need your help to do the following, we will do the rest;
    1. Get ready your corp-pass
    2. Get ready your last financial statement (audited or unaudited)
  3. We help you with queries from the Government
  4. Once Letter of Offer is received, we enter into a contract with you to start
  5. We help you secure cash advancement of up to 20% of the qualifying cost
  6. We help to secure interim financing of 30% of the qualifying cost
  7. We finish the work and hand it over to you
  8. We help to secure the final amount of financing, up to 50% of the qualifying cost

C) What is the net outlay for the SME?

Zero. We suck up all costs of design and development.

D) What else does the SME get?

The SME get to see how we start and complete projects in today’s world. Using Trello boards, Agile and Scrum methodology, a system we built up from our days working with a Leading Software development house and a Fintech firm in London.

E) What else can be covered besides Design and Development work?

Up to SGD 20,160 worth of inbound marketing tools and resources is available also if the SME wants to implement inbound marketing strategies.

F) How do AIR make money?

As Singapore Certified Management Consultants, our consultancy fees are sponsored by the Government

G) How long does the process take?

It will take about 7-8 months from submission of application including waiting time for Letter of Offer

F) Is there a quota?

Yes there is. There is only SGD3.5bil worth of subsidies available in total, and over 76,000 SMEs have applied and received. You are missing the boat if you don’t act now.

Make an appointment today.

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