Tailored financial relief programme for businesses

Supporting SMEs through COVID-19

To provide your business with greater cash flow flexibility, we have various options available for you to defer your principal payments on your secured and unsecured business loans via the Extended Support Scheme – Standardised (ESS - S), Extended Support Scheme – Customised (ESS - C) and Sole Proprietor and Partnership Help Scheme.

Extended Support Scheme - Standardised

Secured SME loan

From 2 November 2020, you can apply to defer 80% of the principal payment of your Secured SME loan(s) if you have not missed more than 1 month of instalment payment at the point of implementation.

Defer Partial Principal

Payment Deferment

During the 80% principal deferment period, continue to pay the interest on the loan account plus 20% of principal of your revised instalment on each relevant due date. Late fees and charges apply.

The effective period of the payment deferment depends on the industry tier that you are in.

Unsecured SME Loan

From 2 November 2020, you can apply to defer 80% of the principal payment of your Unsecured SME loan(s) if you have not missed more than 1 month of instalment payment at the point of implementation.

Defer Partial Principal

Payment Deferment

During the 80% principal deferment period, continue to pay the interest and 20% of principal on the loan account on each relevant due date. Late fees and charges apply.

The effective period of the payment deferment depends on the industry tier that you are in.

Please refer to Jobs Support Scheme (JSS) Notice to ascertain your industry category.

Effective Date

We will inform you of the approved deferment period via a Notification Letter.

How this works

With an 80% principal moratorium on your loan, the cash flow burden on your business during this difficult period will be greatly reduced.

*Option 1: Deferment of 80% principal payment without corresponding loan tenor extension

Disclaimer You may be directed to third party websites. OCBC Bank shall not be liable for any losses suffered or incurred by any party for accessing such third party websites or in relation to any product and/or services provided by any provider under such third party websites.

Need help with your existing loan?

Apply for the Extended Support Scheme – Standardised today.

Other Restructuring Options

Extended Support Scheme - Customised

For all SMEs with multiple creditors that do not qualify for the other restructuring programmes.

Learn More
Credit Counselling Singapore - Sole Proprietor and Partnership Help Scheme

For sole proprietors and partnerships, with multiple creditors and unsecured debt up to S$1 million.

Learn More
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