The Temporary Bridging Loan Programme is a government assisted financing scheme introduced in Budget 2020. This financing scheme is now eligible to all sectors (previously only applicable to tourism industry) after the Solidarity Budget enhancements.
About $1.7 billion drawn from past reserves will be used to finance several enhanced schemes to provide businesses with access to credit amid the coronavirus pandemic.
Businesses now can take a loan of up to $5 million under the programme, an increase from the previous $1 million cap. All eligible enterprises can apply for the programme till March 31 2021.
Interested enterprises can apply through Bizsquare.
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.
Above with reference from: https://www.straitstimes.com/politics/enhanced-financing-schemes-to-help-firms-access-credit