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.
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:
Cover image: Ore Huiying/Bloomberg