Temporary Bridging Loan Programme (TBLP)
As announced at Solidarity Budget 2020, eligible enterprises may borrow up to $5 million under the TBLP, with the interest rate capped at 5% p.a., from Participating Financial Institutions (PFIs). The Government will provide 90% risk-share on these loans for new applications initiated from 8 April until 31 March 2021.
Eligible enterprises under the TBLP may also apply for a deferral of principal repayment to help them reduce their monthly cash outflow, subject to assessment by the PFIs.
Note: The TBLP started in March 2020, and is available until 31 March 2021. Interested enterprises can apply directly to the PFIs.
Maximum Loan Quantum: S$5 Million / Borrower Group
Maximum Repayment Period: 5 years
Risk-Share: The borrower is responsible to repay 100% of the loan amount. When defaults occur, the PFIs are obligated to follow their standard commercial recovery procedure, including the realisation of security, before they can make a claim against Enterprise Singapore for the unrecovered amount in proportion to the risk-share
Interest Rate: Capped at 5% p.a.
• Be a business entity that is registered and physically present in Singapore
• At least 30% local equity held directly or indirectly by Singaporean(s) and/or Singapore PR(s), determined by the ultimate individual ownership
Note: ACRA registered Sole Proprietorship, Partnership, Limited Liability Partnerships and Companies are eligible to apply for the Temporary Bridging Loan. Approval of the loan is subject to the PFI’s assessment.