Government Aided Financing Scheme For SMEs
The Temporary Bridging Loan Programme (TBLP) is a government assisted financing scheme introduced in the Solidarity Budget 2020. This scheme provides access to working capital for eligible SMEs.
|Till 31 March 2021||From 1 April to 30 September 2021|
|Maximum Loan Quantum||$5 Million||$3 Million|
|Government Risk Sharing||90% risk sharing||70% risk sharing|
There are 17 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 options and maximize approval chances.
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Temporary Bridging Loan Features
Maximum loan up to $5M
Across 16 participating financial institutions, with interest rate capped at 5% p.a.
Maximum 5 years repayment
Option for principal repayment deferment up to 1 year, subject to assessment
Government risk sharing 90%
Until 30 March 2021, borrowers are still responsible to repay 100% of loan amount
Participating Financial Institutions
|CIMB Bank||Ethoz Capital|
|Hong Leong Finance||IFS Capital|
|Standard Chartered Bank||Sing Investments & Finance|
|Orix Leasing||Resona Merchant Bank|
|Goldbell Financial Services||Singapura Finance|
SMEs can apply for the Temporary Bridging Loan with the participating financial institutions, subject to respective bank’s credit assessment & approval.
Temporary Bridging Loan Interest Rate
The interest rate for the Temporary Bridging Loan Programme (TBPL) differs for each participating financial institution and is dependent on their risk assessment of your business.
Interest rate is capped at 5% p.a. effective rate. Eligible SMEs can enquire with the various participating financials institutions on their respective TBPL interest rate. Interest rate could start from as low as 2.5% effective rate per annum (1.3% p.a. simple rate).
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Temporary Bridging Loan Eligibility:
- Local business entity registered and physically present in Singapore
- Minimum 30% shareholdings held directly/indirectly by Singaporean(s) or PR
- The TBLP started in March 2020 and is extended till 30 September 2021
- Government risk sharing: Borrowers are still liable for 100% of loan outstanding in event of default. Banks will proceed with their standard commercial recovery process before claiming against Enterprise Singapore for any unrecovered amount proportionate to risk share.
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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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