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Temporary Bridging Loan

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Published by Enterprise Singapore
on 06 Apr 2020

You can apply for the Temporary Bridging Loan Programme (TLBP) to access working capital for your business needs.

About

The Temporary Bridging Loan Programme (TBLP) provides access to working capital for business needs.

As announced at Solidarity Budget, eligible enterprises may borrow up to S$5 million, with the interest rate capped at 5% p.a., from the Participating Financial Institutions (PFIs). The Government will provide 90% risk-share on these loans for new applications initiated from 8 April until 31 March 2021.

Enterprises under the TBLP may also apply for up to 1 year deferral of principal repayment to help manage their debt, subject to assessment by the Participating Financial Institutions (PFIs).

The TBLP has started since March 2020, and is available until 31 March 2021. Interested enterprises can apply directly to the PFIs.

 

Maximum Loan Quantum S$5 Million / Borrower Group^
Maximum Repayment Period 5 years
Risk Share The borrower is responsible to repay 100% of the loan amount. When defaults occur, the PFIs are obligated to follow their standard commercial recovery procedure, including the realisation of security, before they can make a claim against Enterprise Singapore for the unrecovered amount in proportion to the risk-share.
Interest Rate Capped at 5% p.a.

 

Eligibility

  1. Be a business entity1 that is registered and physically present in Singapore, and
  2. At least 30% local equity held directly or indirectly by Singaporean(s) and/or Singapore PR(s), determined by the ultimate individual ownership, and

1ACRA registered Sole Proprietorship, Partnership, Limited Liability Partnerships and Companies are eligible to apply for the Temporary Bridging Loan. Approval of the loan is subject to the PFI’s assessment.

^ Borrower Group consists of the following:

  1. Borrower; and
  2. Corporate shareholders that hold more than 50% of the total shareholding of the applicant company, and any subsequent corporate parents (all levels up), and subsidiaries all levels down. (Annual sales turnover and employment size is computed on a group basis).

 

How to Apply

List of Participating Financial Institutions

Interested enterprises may approach any of the following Participating Financial Institutions to apply for the loan (subject to banks’ credit approval).

DBS Bank Ltd

1800 222 2200

CIMB Bank Berhad

​6438 7888

Oversea-Chinese Banking Corporation Ltd

6538 1111

United Overseas Bank Ltd

1800 2266 121

Standard Chartered Bank

1800 747 7000

Maybank Singapore Ltd

1800 777 0022

RHB Bank Berhad

1800 323 0100

Hong Kong and Shanghai Banking Corporation

1800 216 9008/ 6216 9008

Hong Leong Finance Ltd

1800 3388 338

Sing Investments & Finance Ltd

6305 0300

Singapura Finance

6880 0688

ORIX Leasing Singapore Ltd

6339 3622

Ethoz Capital Ltd

6654 7799

IFS Capital Ltd                

6270 7711

Resona Merchant Bank Asia Ltd

6224 7155 / 6228 6124

 

For More Info

Temporary Bridging Loan Programme

Enterprise Singapore
230 Victoria Street #10-00
Bugis Junction Office Tower
Singapore 188024

1 Fusionopolis Walk
#01-02 South Tower, Solaris,
Singapore 138628

 

Last Modified Date: 06 Apr 2020