Government Aided Financing Scheme For SMEs
The Temporary Bridging Loan Programme is a government assisted financing scheme introduced in Budget 2020. This financing scheme is now eligible to all sectors (previously only applicable to tourism industry) after the Solidarity Budget enhancements.
The Temporary Bridging Loan provides working capital financing with up to $5M to help your business. Enterprise Singapore partners with participating financial institutions with up to 90% risk sharing.
There are 14 financial institutions participating in this programme. Credit criteria & interest rate are different for all banks. Don’t have your applications rejected. Compare across all banks for more options & maximize approval chances.
We can provide your company with a direct comparison on all banks Temporary Bridging Loan rates and eligibility terms. Get a free loan assessment & compare all banks financing options now.
Temporary Bridging Loan Features
Up to $5M financing
Up to 5 years repayment period
Government risk sharing with banks on loan default
Participating Financial Institutions
|Hong Leong Finance||IFS Capital|
|Standard Chartered||Sing Investments & Finance|
* These are some of the participating financial institutions in the Temporary Bridging Loan Programme.
Temporary Bridging Loan Interest Rate
The interest rate for the Temporary Bridging Loan Programme (TBPL) is different for each participating financial institutions and is dependent on their risk assessment of your business.
Interest rate is capped at 5% p.a. effective rate. Eligible companies can enquire with the various participating financials institutions on their respective TBPL interest rates.
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Temporary Bridging Loan Eligibility:
- Local business entity operating and registered in Singapore
- Minimum 30% shareholdings local or PR
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What is the maximum financing amount for the Temporary Bridging Loan Programme (TBPL)?
The maximum financing loan quantum under the TBPL is up to S$5 million. This amount can be combined across multiple participating financial institutions if your business meets the credit criteria of the various lenders.
What is the Temporary Bridging Loan (TBPL) interest rate?
TBPL interest rate is subjected to respective participating financial institutions credit and risk assessment, capped at 5% p.a. effective rate.
What is the requirement to qualify for the Temporary Bridging Loan?
Business must be registered and operating in Singapore with at least 30% local shareholdings. Other requirements are subjected to participating financial institutions’ internal credit assessment and criteria.
What is the maximum repayment period?
The maximum repayment tenure is up to 5 years. Borrowers can also apply for 1 year deferral of principal repayment, subject to respective financial institutions assessment & approval.
What is the difference between Temporary Bridging Loan Programme (TBPL) and SME Working Capital Loan (WCL)?
The TBPL was introduced to help SMEs cope with the impact of Covid-19 on the economy. Interest is capped at 5% p.a. while there is no interest cap for the WCL. Maximum financing for TBPL is $5M and $1M for WCL.
Is there any bank that do not require personal guarantee since the Government is providing 90% risk sharing?
No, all banks and financial institutions will require personal guarantee (PG) up to the full financing amount offered. This is a standard requirement as PG signals a commitment by guarantor on their commitment to fulfill loan obligations.
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