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Bridging Loan for Marine & Offshore Engineering companies (BL-MOE)

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Published by Enterprise Singapore
on 25 Nov 2016

Singapore-based M&OE companies can access working capital to finance their operations and bridge short-term cash flow gaps.

About the Scheme

Singapore-based Marine & Offshore Engineering (M&OE) companies can get support to tide over the slowdown in the industry by accessing up to S$15 million in bridging loans. This will help you finance operations and bridge short-term cash flow gaps.

Enterprise Singapore shares the risk of loan defaults with Participating Financial Institutions in the event of company insolvency. This loan, available from December 2016, is one of two measures to provide one-off financial support for companies in the industry.

 Scope

  • Working capital (e.g. daily operations)

 Loan Quantum

  • Up to S$5 million per company; up to $15 million per group*

 Repayment Period

  • Up to 6 years

 Interest Rate

  • Subject to Participating Financial Institutions’ assessments of risks involved


*
A “borrower group” consists of the Applicant Company, the Applicant Company’s corporate shareholders who own >50% of total shareholding (all levels up) and the Applicant Company’s subsidiaries where the Applicant Company holds >50% of the total shareholding of the subsidiaries (all levels down). Loans made to any of the entities mentioned above will therefore count towards an aggregated S$15 million limit.

Other assistance

Companies in the M&OE industry can access up to S$70 million in credit facilities under the enhanced Internationalisation Finance Scheme (IFS), for overseas expansion. For more information, click here.

Eligibility Criteria

Local enterprises registered and operating in Singapore with at least 30% local shareholding in the M&OE industry are eligible.

Sub-categories of Marine & Offshore Engineering include:

  • Shipyards
  • Contractors to shipyards
  • Offshore services providers
  • Exploration & Production (E&P) companies
  • Oil and gas (O&G) equipment and services companies
  • Suppliers to O&G equipment and services companies

For More Info

Bridging Loan for Marine & Offshore Engineering companies

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

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

Email : enquiry@enterprisesg.gov.sg
Hotline : (65) 6898 1800

Last Modified Date: 03 Sep 2019