Market Readiness Assistance (MRA) Grant
The Market Ready Assistance (MRA) Grant, by Enterprise Singapore, is designed to help small and medium Singapore based enterprises enter new markets by using the benefits of trade credit insurance as a financing and risk management tool to mitigate their buyers’ default risks. With added protection through trade credit insurance, companies can be better protected against their counterparty risks and be more confident to explore new markets and buyers.
Subsidy of Insurance Premium
If your company qualifies, Enterprise Singapore can support up to $30,000 (per new market) towards an insurance premium for TCI policies provided commercially by Singapore-registered credit insurers.
Your company needs to fulfil the following criteria:
Business entity is registered and physically present in Singapore, i.e. incorporated in Singapore with the Accounting and Corporate Regulatory Authority of Singapore (ACRA)
Have a minimum of 30% local shareholding
Maximum group employment of 200 employees or maximum group revenue of S$100M
*eligibility determined by meeting the criteria set by Enterprise Singapore.
How to Apply?
As your credit insurance broker, NCI will coordinate with Enterprise Singapore to organise the grant. Enterprise Singapore will then disburse the subsidy to the qualified Singapore company.