MAS extends facility to support bank lending to SMEs
This is to complement Enterprise Singapore’s temporary bridging loan programme for SMEs.
The Monetary Authority of Singapore (MAS) has further extended the MAS SGD Facility for ESG loans from 1 April to 30 September 2022.
This is to complement Enterprise Singapore’s (ESG) Temporary Bridging Loan Programme (TBLP), which was first introduced in March 2020 to help companies, particularly, small and medium enterprises (SMEs), access working capital during the pandemic.
A revised interest rate of 0.5% per annum will apply for funding provided from the May 2022 application window onwards, to better reflect interest rates in Singapore.
The facility will continue to provide Singapore Dollar (SGD) funding to eligible financial institutions (FIs) for a two-year tenor, according to MAS.
The facility has been extended twice since its first introduction in 2020, first in October of the same year and in July 2021. Since then, the facility has disbursed a total of S$14.2b to eligible FIs in support of their lending to companies under Enterprise Singapore’s loan schemes.
ESG’s Temporary Bridging Loan Programme has also been extended twice, first in October 2020, and in July 2021.
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