- Employment Pass Eligibility: Educational Qualifications Is Required By September 2023
- Comprehensive Guide To Hawkers Development Programme In Singapore
- New Update: What You Need to Know About the Senior Worker Support Package 2023: Up to S$125,000 Grants for Companies
- Comprehensive Guide To Temporary Fair Permit In Singapore
- Comprehensive Company Guide: CPF Contribution for Employees
- New Update: What You Need to Know About the Senior Worker Support Package 2023: Up to S$250,000 Grants for Companies
- Employing Workers with Special Needs in Singapore - What Other Grants Support Is There? [Updated]
- Simplifying the Process: How Tender Lite is Making it Easier for SMEs to Win Government Contracts
- How To Decide When To Refinance Or Reprice For Your Loans
- Singapore's First Career Conversion Programme For FinTech Talents
DBS has approved over 3,500 loans for micro and small enterprises totalling more than $1.1 billion, under Enterprise Singapore's financing schemes.

Article originally posted on The Straits Times.
DBS has approved over 3,500 loans for micro and small enterprises totalling more than $1.1 billion, under Enterprise Singapore's financing schemes.
The loans account for eight in 10 of all government-assisted small and medium-size enterprise (SME) loans that the bank has approved between the start of March and mid-May, it said in a media release on Monday (May 25).
Of the more than 3,500 loans approved, around three in 10 were for customers with no prior relationship with the bank, while over half were for customers with no prior borrowing history with DBS.
Among those with no borrowing history with the bank, the average loan quantum was $250,000. Two out of three borrowed $200,000 or less, of which over 800 borrowed $100,000 or below.
Borrowers came mainly from the services (comprising 27 per cent), building and construction (13 per cent), general wholesale (12 per cent), food and beverage (11 per cent) and retail (9 per cent) sectors.
DBS group head of SME banking Joyce Tee said the bank is doubling down on its support for micro and small enterprises amid the Covid-19 outbreak.
DBS is working with key stakeholders to ensure that working capital support reaches the most challenged micro and small businesses.
Since early April, the bank and the Federation of Merchants' Associations, Singapore have been collaborating on solutions to ease the cash flow challenges faced by heartland enterprises.
There are over 15,000 heartland enterprises across 14 town centres in Singapore, spanning a diverse range of businesses, from kopitiam owners to service providers and neighbourhood mom and pop shops, said DBS.
-------------------------------------------------------------------------------------------------------
Not sure whether your company can be qualified for bank loans or alternative lending? Try our A.I assisted loan, and Smart Towkay team will send you a lending report within 24 hours' time. With the lending report, we aggregate and recommend the highest chance of approval be it with BANKS / FINANCIAL INSTITUTIONS or Alternative lenders like Peer to Peer Lenders or even B2B lender!
Got a Question?
WhatsApp Us, Our Friendly Team will get back to you asap :)
Share with us your thoughts by leaving a comment below!
Stay updated with the latest business news and help one another become Smarter Towkays. Subscribe to our Newsletter now!