Government Aided Financing Scheme For SMEs
The Temporary Bridging Loan Programme (TBLP) is a government-assisted financing scheme 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 provides support for Singaporean SMEs and companies through the Government of Singapore. This product is for companies that have been listed in Singapore and are operating with at least 30% Singaporean or Permanent Resident shareholding.
Working Capital Loans
The WCL is an increase over the Microloan of small businesses. The S$100,000 Micro Loan provides companies with access to more affordable capital within 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.
SME Micro Loans
Usually, the first loan for companies in the SME Micro Loan (“ML”). The S$100,000 Micro Loan allows companies to have access to cheaper capital over the S$100,000 ceiling. The risk is shared among the bank and the state, with 90% of the chance absorbed by the Singapore government. This enables small and medium-sized enterprises to receive support in bank loans.
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 |
17 financial institutions are 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.
Obtain Business Financing From Banks From Equity
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Higher Loan Amounts
Once we receive your documentation, we work immediately. We apply directly to our bankers for a faster response time and processing speed.
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.
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 disbursed immediately, and the deposit is deducted monthly into your corporate bank account.
There is no pre-payment penalty for the following loans: temporary bridges, micro-loans, working capital credit. That means that you can pay your loan at any time, and the interest is pro-rated.
For example, you will only pay 18-month interest if your original credit tenure is 48 months, but you pay off your credit in 18 months.
Click here to contact our Relationship Managers to obtain a pre-assessment of your loan eligibility.
Temporary Bridging Loan Eligibility:
Temporary Bridging Loan Interest
Each participating financial institution’s interest rate for the Temporary Bridging Loan Program (TBPL) changes depending on its risk assessment of your firm.
The effective rate of interest is limited at 5% p.a. Eligible SMEs can ask their respective TBPL interest rates with the various participating financial institutions. 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 than his business. Nevertheless, SME’s are unfamiliarly navigating the different criteria and other requirements that the banks need when it comes to financing.
Equity Capital Solutions Can assist cut through the red tape quickly & easily. With our experienced loan specialists, the application is quick and straightforward, and we do all the work between you and the banks. Upon an inquiry, we usually respond within 3-4 hours to obtain financing quickly & easily.
Increased Loan Amount And Approval Success
With Equity’s Pre-Assessment Process.
With Equity’s Pre-Assessment Process.
Did you know 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 maximize your approval chances for the loan or even an increased loan amount.
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 on if you have an existing corporate account with the approving bank.
What is the amount of business financing I can achieve?
The financing loan amount depends on your bank balances, incoming and outgoing transactions, and other financial transactions. Our specialists can assist with your 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.
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
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.
Free Loan Assessment
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About FR Capital
FR Capital 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.