Singapore: UOB Initiatives

Singapore Apr 10, 2020

IMPORTANT - Note from Editor:
The following is a compilation of initiatives by UOB, Singapore. All information below is directly retrieved from the UOB website, with certain sections summarised by the Reapra team for brevity. To view the complete description of each measure, please refer to their respective links.

To ensure relevance for our readers, we are only providing measures relating to support for businesses. For the full listing of measures, please head over to the UOB website.

Key source: UOB website, The Business Times


UOB has allocated S$3 billion to provide companies financial relief at a challenging time for their business stability.

Companies with good track record can benefit from measures such as:
- Deferring principal payments and servicing only interest for up to one year;
- Extending their current payment tenor; and
- Increasing their loan amount or getting an overdraft facility against mortgage security for financing liquidity.

As the biggest partner for SMEs in the unsecured space, the bank also offers working capital loans of up to S$550,000 to SMEs without any collaterals and with up to S$2,500 rebate

Terms and conditions apply.

Find out more here:

UOB sets aside S$3b as relief assistance to SMEs
UNITED Overseas Bank (UOB) on Wednesday said it has set aside S$3 billion to provide companies in Singapore, especially small- and medium-sized enterprises (SMEs), with relief assistance to tide over the negative impact of the Covid-19 outbreak on their business.
Cash flow relief to help SMEs cope with Covid-19 impact
The cash flow support announced in Budget2020 provides SMEs the assurance of cash flow relief when coping with Covid-19 impacts. As a partner for these measures, UOB is committed to secure your business in uncertain times.

To apply:

UOB Government Assistance Scheme to Finance Business Growth
Various government assistance schemes & subsidies for small to medium enterprise to help boost business working capital, fund purchase of new equipment or short-term trade loan


Cover image: Ore Huiying/Bloomberg

Reapra

Reapra is a venture builder and investment group based in Singapore. Through research and practice, we nurture entrepreneurs into industry leaders, and contribute towards the betterment of society.

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