Temporary Bridging
Loan Programme

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Government Aided Financing Scheme For SMEs

The Temporary Bridging Loan Programme (TBLP) is a government-assisted financing scheme started in the Solidarity Budget 2020. This scheme provides access to working capital for eligible SMEs.

Types Of Government Assisted Funding

Temporary Bridging Loans

The Temporary Bridging Loan is an initiative between the Singapore Government to assist SMEs and Companies in Singapore. This product is for companies that have been listed in Singapore and are operating with at least 30% Singaporean or Permanent Resident shareholding.

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Working Capital Loans

The SME Working Capital Loan (“WCL”) is an increase over the SME Micro Loan. As the Micro Loan is capped at S$100,000, the working capital loan allows companies to access more affordable capital over the S$100,000 limit. As the risk is distributed between the bank and the government, this provides lenders greater security to grant loans to growing companies in Singapore.

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SME Micro Loans

The SME Micro Loan (“ML”) is usually the first loan offered to businesses. As the Micro Loan is capped at S$100,000, the working capital loan allows businesses to access cheaper capital over the S$100,000 limit. The risk is shared between the bank and the government, with the Singapore Government absorbing 90% of the risk. This allows SMEs to find support in business loans from the banks

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  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 program. Credit criteria & interest rates are different for all banks. Don’t have your applications rejected. Compare across all bank’s options and maximize approval chances.

We can provide your business with a direct comparison of all bank’s Temporary Bridging Loan rates and eligibility.

Get a free online loan assessment and compare all bank’s financing options instantly.

Temporary Bridging Loan Features

Maximum loan up to $5M

Across 19 participating financial institutions, with interest rate capped at 5% p.a.

Maximum five (5) years repayment

Option for principal repayment deferment up to one (1) year, subject to assessment  

Government risk-sharing 90%

Until 30th March of 2021, risk-sharing is 70% from 1st April – 30th September 2021.

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Higher Loan Amounts

Equity Capital will be able to get the highest amount of loan for you up to S$5million from the different banks in Singapore. Our relationship managers will be able to evaluate your application to submit the best documentation needed for the application.

Greater Approval Chances

Suppose you have previously been unsuccessful on your own. Our Relationship Managers will be able to resubmit through us for higher approval. This is because we’re very familiar with the bank criteria and will be able to submit it precisely.

Quick And Responsive

Our relationship managers will respond to you within 24 hours & are available seven (7) days a week for an update on your application or any corporate requests from you.

Faster Application Times

We work immediately as soon as we receive your documentation. We submit the application directly to our bankers for a faster response time and processing speed.

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SME Financing Institutions

SMEs can apply for the Temporary Bridging Loan with the participating financial institutions, subject to the respective bank’s credit assessment & approval.

What Can Business Loans Be Used For

Business Loans can be used for additional cash flow, for business expansion, or just for an extra boost of working capital.

Funds are immediately disbursed into your corporate bank account, and the instalment is deducted on a monthly basis.

The following loans also have no early repayment penalty – Temporary Bridging Loan, MicroLoan, Working Capital Loan. This implies that you are able to pay off your loan at any point in time, and the interest will be pro-rated.

For example, if your original loan tenure was 48 months, but if you pay off your loan in 18 months, you only pay for 18 months interest.

To get a pre-assessment on your loan eligibility, reach out to our relationship managers by clicking here.

Temporary Bridging Loan Eligibility:

Temporary Bridging Loan Interest

The interest rate for the Temporary Bridging Loan Programme (TBPL) changes for each participating financial institution & is dependent on their risk assessment of your company.
The interest rate is capped at 5% p.a. effective rate. Eligible SMEs can enquire with the various participating financial institutions on their respective TBPL interest rate. The interest rate could start from as low as 2.5% effective rate per annum (1.3% p.a. simple rate).

Criteria To Obtain Temporary Bridging Loans In Singapore

Temporary Bridging Loans, usually than not, the company owner is an expert in all things compared to his business. Nevertheless, when it comes to financing, SME’s are unfamiliarly navigating the different criteria and other requirements that the banks need.
Equity Capital Solutions Can assist cut through the red tape quickly & easily. With our experienced loan specialists, the application is quick and simple, and we do all the work between you and the banks. Upon an inquiry, we usually respond within 3-4 hours, so you can obtain financing quickly & easily.

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SME Loan Comparison Made Easy

Sell all SME Working Capital Loan Options in 3 Steps

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Increased Loan Amount And Approval Success
With Equity’s Pre-Assessment Process.

Did you know there there are many different criteria and each bank has its own set of requirements. Often than not, a previously rejected application hurts your chances for future applications.

Here at Equity, we maximise your approval chances for the loan or even an increased loan amount.

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FAQ’S

How long will it take to apply?

It takes approximately 10 – 12 working days for an application to be approved

How long before I can receive the money?

Disbursement takes an additional 7 – 10 working days depending if you have an existing corporate account with the approving bank

What is the amount of business financing I can achieve?

he financing loan amount is depending on your bank balances, incoming and outgoing transactions and other financial transactions. Our specialists can assist for you free assessment for your loan amount

Which bank will I apply to?

Each bank has a different set of risk criteria and each company different. Upon receipt of your documentation we’ll be able to perform a free assessment to tell you which bank you’re suitable for,

What is the criteria for application?

Basic criteria for an application is an existing company incorporated in Singapore with at least 30% local or PR shareholding and a active corporate bank account

How We Can help

SME Financing Institutions

For possible partners or source of funds, we welcome collaborations to bring more funding products to our platform. Kindly contact contact@frcapital.sg

Join hundreds of SMEs just like yours who entrusted us to help grow their business

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How This Works

  • Make Free Enquiry.

  • An Equity financing expert will reach out to you for some simple details.
  • We will work together with you on the documentation.
  • You relax, and we do the heavy lifting for you.
  • We contact you when it’s approved for signing down the loan.
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Free Loan Assessment

Enter your business name & email below to see all your best SME business loan options instantly!

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    About iBusiness

    iBusiness is a Singapore consultancy firm that helps SMEs to secure business loans from banks and financial institutions. We concentrate on SME finance, and through our expertise and network, we help clients secure funding with low-interest rates efficiently and hassle-free.

    Our Services

    At iBusiness, we believe that everyone should have an equal opportunity to financial access.

    That’s why we have committed ourselves to making affordable financial products and services that are accessible to all businesses, regardless of size and net worth. Through investments in digital technology and operational efficiency, we continually devise new methods to provide convenience to SMEs.

    At the same time, we never lose sight of our service excellence. We want to build a relationship with our clients that goes beyond finance.

    In order to be eligible for a loan, you must be

    • A Private Limited Company registered with ACRA
    • One of your directors must be a Singaporean / Permanent Resident or foreigner residing in Singapore.
    • Your business should also have an annual revenue of at least $100,000.
    • Preferably, your business has also been in operation for at least 10 months.

    Loan Information

    • Latest 6 months of Bank statements
    • Company Financial Statement for the past year
    • Latest Credit Bureau Singapore (CBS) Credit Report of Applicant(s)
    • Latest Moneylenders Credit Bureau (MLCB) report of Applicant(s)

    In addition, you may provide any upcoming contracts, aging reports, expected invoices, and other documents that you think may be applicable to the loan assessment.

    Each loan is subject to assessment. Our loan rates range from $5,000 to $300,000 per application.

    Depending on your company’s SME profile and credit analysis, interest rate can vary from 2% to 7% per month.

    We have a flexible repayment structure. Repayment can be made in weekly, bi-weekly, and monthly instalments over 2 to 12-month terms.

    Once you have submitted your documents, we will contact you to verify the application. During this process, additional documents may be requested to have a better understanding of your company’s creditworthiness.

    If your application meets the credit risk criteria, approval is typically completed within hours. Once all the required documents and information has been submitted properly, you can get your loan within 24 hours of the application.

    As a business owner, we understand the need for cashflow and hence our various loan products such as working capital loan, business line of credit, and bridging loan are meant to do just that!  We aim to provide business owners like you with liquidity to tide through that tight cash flow period.

    Obtaining Your Loan

    Upon the approval of your application, you should receive your loan within 24 hours.

    A personal guarantee is required for all loan applications.

    You may make full repayment prior to the end of the contract period. However, an early redemption fee may apply.

    During Application

    We have gone digital!
    All documents can now be submitted electronically to us. If your application meets the credit risk criteria, approval is typically completed within hours and you can get your loan within 24 hours of the application

    Other Information

    Every business is of a different financial standing and health.  We will perform a comprehensive credit assessment before providing you with a tailored loan package.

    There are many variables that contribute to a poor credit score. As long as you are not currently under any litigation or bankrupt, we are always happy to explore how we can assist.

    The basic criteria for a loan with us is that your business must:
    • have been in operations for at least 10 months at the point of application
    • be a private limited company or LLP
    • have an annual revenue of at least $100,000
    If you do not meet the above but have a great business idea, do share it with us too.
    We are excited to explore how we can work together.

    Your loan application can be declined if a lender doesn’t think you can afford to repay the loan, either because you don’t earn enough or the lender can’t verify your income with the information you provided…. Your loan application may be declined if it doesn’t look like you’ll be able to take on new debt.

    Be it for a new startup or a growing business, additional finance can help keep your business momentum up. You can avail a business loan from FRcapital for your short or long term financial needs to avoid any form of working capital fall short or any timely opportunities that come along your way.

    The business turnover ratio measures the proficiency of a business with which it effectively collects their receivables or the credit it has extended to its customers.
    To know how to calculate business turnover ratio, the total amount receivable from customers at the start of the accounting period must be added with the ending balance and divided by 2. The business turnover ratio is calculated by then dividing the total sales on credit by the average balance(excluding the cash receipts).

    To be eligible for business loan, the business must have incorporated for at least 3 years and must have filed Income tax for a minimum of 1 year. Also, a good business loan turnover ratio gives a positive reflection of business growth and profitability, making it a good profile for business loans.

    Credit Bureau Singapore. You can request a copy of your credit file online, at any of the SingPost
    branches, at the Credit Bureau office or at CrimsonLogic Service Bureaus. Prices reflected below are accurate and current: CBS Credit Report is chargeable at $6.42 (inclusive of GST).

    We take your privacy very seriously.

    Firstly, your contact details (company name, director’s name and number) will only be shared with
    relationship managers who are interested to finance your business loan request.