The Temporary Bridging Loan Programme was introduced to help the SMEs access working capital. As announced in Budget 2020, this scheme is eligible to all sectors, with 90% risk share by the Government. SMEs under this scheme may also apply for up to 1-year deferral of principal repayment to help them reduce their monthly cash outflow.
Extra financing support for SMEs
As announced in the Budget 2020, the Temporary Bridging Loan Programme will provide cash flow support for enterprises across all sectors.
Be a business entity that is registered and physically present in Singapore, and
At least 30% local equity held directly or indirectly by Singaporean(s) and/or Singapore PR(s), determined by the ultimate individual ownership, and
Terms and conditions
*Terms and conditions apply. OCBC bank requires guarantor(s) to support the loan.
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Commonly asked questions:
Yes, SMEs can approach different financial institutions to apply. However, the total aggregate amount borrowed under the scheme from different financial institutions is capped at the maximum amount of S$5 million.
Temporary Bridging Loan was introduced in response to the COVID-19 outbreak, to help SMEs manage their immediate cash flow needs. Eligible SMEs can borrow up to S$5 million, with interest rate capped at 5% per annum. SMEs that require help beyond the Temporary Bridging Loan can also tap on the Enhanced Working Capital Loan, which has been further enhanced to support loans of up to S$1 million.
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