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COVID-19 Relief Loans

Apply for all available relief loans
in only one application

COVID-19 Relief Loans

Apply for all available relief loans
in only one application

Apply for all Covid-19 relief loans in one go

We’ll offer you one of these loans by considering your needs and eligibility:

Temporary Bridging Loan

 

Borrow up to
SGD 3 million per Borrower

Repay over
1–5 years

Eligibility

  • Business is registered and operating in Singapore
  • Business has at least 30% local shareholdings by Singaporeans or Singapore Permanent Residents
SME Working Capital Loan

 

Borrow up to

  • SGD 300,000 per Borrower
  • Usually offered after customer has exhausted the loan quantum of Temporary Bridging Loan

Repay over
1–5 years

Eligibility

  • Business is registered and operating in Singapore
  • Business has at least 30% local shareholdings by Singaporeans or Singapore Permanent Residents
  • Group revenue of up to S$100 million or maximum employment of 200 employees
Why SMEs choose this loan
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Get a COVID-19 loan at a competitive interest rate

You’ll get our best offer based on your needs and eligibility

cash in hand

Borrow up to SGD 3 million

Benefit from this government-assisted scheme before 31 March 2022

Loan amount is approved based on the bank's assessment.

Calculate your affordability
How it works
1
Submit your application online

Check if you need to gather these documents for your application.

2
Inform guarantors about your application

We’ll email your guarantors to endorse your application.

3
Track your application status

Upon submission, you can track your application status on DBS IDEAL online business banking platform.

4
Review the offer

Once approved, we’ll give you an offer. You can accept the offer on DBS IDEAL online business banking platform. In cases where an offer cannot be accepted digitally, a relationship manager will assist with the acceptance.

5
Look out for our notification

We’ll notify you when we disburse the funds into your DBS business account.

Documents to prepare

If you apply using ACRA or MyInfo Business, we can retrieve most of the required information without asking you to submit financial documents. However, some businesses may be required to provide additional information.

Additional documents required could be:

  • Latest 2 years financial statements
  • Latest 3 months bank statements
    Not required if DBS is your main operating bank
Frequently asked questions
How do I know if I'm getting the best Covid-19 loan offer?

Once we've confirmed that you're eligible for government-assisted loans, we'll assess your loan application.

You'll be considered for the Temporary Bridging Loan as it is probably the most favourable offer for most businesses.

Most customers apply for the SME Working Capital Loan only after they have exhausted the loan quantum of Temporary Bridging Loan.

If you're not eligible for Covid-19 relief loans, we'll offer you a suitable commercial loan.

What's the process of accepting the offer digitally?

While we’re processing your application, you can track your application status on DBS IDEAL online business banking platform. Once approved, we’ll give you an offer which you can accept on DBS IDEAL. In cases where an offer cannot be accepted digitally, a relationship manager will assist with the acceptance.

Can I apply for Temporary Bridging Loan if I’ve applied for this with other banks?

Yes. And no matter how many loan offers you receive, the total aggregated amount borrowed across different participating financial institutions is capped at SGD 3 million.

Are there any fees for repaying my loan earlier?

Currently, there is no pre-payment fees for Temporary Bridging Loan and SME Working Capital Loan. However, the bank would need your redemption notice at least 1 month in advance. For more information, speak with your relationship manager.