threatening the survival of the businesses
Since December in 2019, thousands of the SMEs and the iconic firms in Singapore and global economies have cited Covid-19 as a factor in the decision for the winding-up the businesses.
The disruption to the business is expecting to continue for many months to come. More job losses and fallout of businesses will deepen the economies' into unprecedented financial troubles.
It's important for people and companies to act bravely and prepare well ahead before this crisis caused further damages to the livelihood of the people and the businesses.
Cope with the fast-moving & unexpected changes
Together, we are confident that Singapore will be able to recover and emerge stronger than before.
At SME+FS, we are doing our part to keep our environment safe and are committed to supporting our Singapore Business Community to be equipped with more protective financial supports effectively to weather through this economic storm.
Covid-19 Business Loans Eligible For All Companies
In all, a total of nearly S$100b funds have poured into the market by the government to stimulate the economy to fight against the COVID-19 pandemic. Businesses, workers, and families can make use of this capital support to deal with the negative cash flow issues and take advantage to embrace new growth opportunities.
However, this financing resource is running out very soon. Don't miss out the boat.
How To Get The Government Financing Supports Effortlessly?
Speak to us, we're here to answer and support the local SME businesses. Together, we united.
3 Key Business Loans Supporting For All SMEs:
Other Government Capital Loans Support.
$30m SME Fixed Asset Loan - Finance local and overseas fixed assets investment.
$5m Venture Debt Loan - Finance the new growing innovative business.
$50m Project Finance - Finance the awarded overseas projects.
$50m Merger & Acquisition Finance - Support the acquisition of local or oversea enterprises.
Trade Credit Insurance Scheme - Protect against non-payment by the new customers.
Political Risk Insurance Scheme - Safeguard companies overseas projects against political uncertainty.
These financing and protection initiatives are providing to companies to venture overseas markets with the intent to drive for long-term economic growth and internationalization.
3 Key Budgets - Unity, Resilience & Solidarity, Save Businesses, Jobs & Families.
Series Of Capital Measures Helping Companies To Solve The Financial Difficulties Caused By Covid-19.
In all, a total of nearly $59.9b budgets have rolled out in February 2020 (Unity, $6.4b), March 2020 (Resilience, $48.4b) and April 2020 (Solidarity, $5.1b) to cushion the fallout from COVID-19. Businesses, workers and families can make use of these capital supports to deal with the negative cash flow issues and take advantage to embrace new growth opportunities.
The new financing measures are providing companies with cheap working capital loans to overcome the current predicaments and improve capabilities to drive for business growth.
3 Key Cashflow Loan Supports For All Businesses:
References For Deferment Or Debt Moratorium.
Businesses are eligible to request for deferment of principal payments of the business loans and paying interest cost for the next 6 months or 12 months.
Individuals or consumers are eligible to request for the following deferment of loans or health insurance:
Unsecured debts - credit cards, revolving lines of credit and can convert into low-interest cost term loan before Dec 31.
Secured home loans - owner-occupied and investment residential properties are able to get help to defer for principal and interest payment up to Dec 31.
Life & health insurance premium - given an option to defer premium for up to six months due between Apr 1 and Sept 30.
Government Relief Measures helping Firms coping with Covid-19.
Together, we'll stay resilient and move forward. Together, we’ll overcome.
STAY SAFE AND HEALTHY.
TOGETHER, WE'LL OVERCOME & MOVE FORWARD.
We know these are uncertain times for everyone. COVID-19 has brought about economic disruption on an unprecedented level worldwide.
We stand together as partners to ride out this storm. To do that, we’ve rolled out a series of enhanced solutions and initiatives to help your business better respond to the challenges.
There’s also a list of resources we hope you’ll find useful as we work together to tackle COVID-19 and emerge stronger. Together, we'll stay resilient and move forward. Together, we’ll overcome.