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More than three million people worldwide have been infected with COVID-19 and the number of confirmed cases in Singapore have crossed the 20,000 mark as at the beginning of May 2020. The circuit-breaker period has been extended to 1 June 2020 and tighter circuit breaker measures such as closing of more workplaces were also implemented to curb the spread.
Fortunately, at least one group of persons can find some joy associated with today’s announcements, due to the fact that wages of qualifying ‘shareholder- directors’ will now also be...
While we are still in the extended Circuit Breaker period, which is anticipated to end on 1 June 2020, businesses and individuals may want to review their respective positions to ensure they are not missing out on the support measures that have been announced by the Singapore Government in the past few months.
Cashflow Relief Measures
By: Lee Lei Kun, Director & Practice Leader, Outsourcing
As the impact of COVID-19 is felt across Singapore, we understand that you may have concerns about how it could affect your business and accessibility to our business banking services.
Are you aware of cash flow relief measures during COVID-19 outbreak?
- New relief assistance for businesses impacted by the COVID-19 outbreak. You will be able to access working capital to bridge short-term cashflow gaps in your daily operations.
- Collateral-free funding up to S$5 million.
Enhanced SME working capital loan
- Expand your operations or fund an upcoming business with the Enhanced SME Working Capital Loan.
- Collateral-free funding up to S$1 million.
Digital business loan supported by Resilience Budget 2020
- Up to S$200,000 hassle free-funding.
- You can access up to S$200,000 as part of the new relief assistance with the Digital Business Loan, supported by the Resilience Budget 2020.
To find out which types of cashflow relief measures are best suited for your business setup and needs, talk to an accounting professional today.
Download Cashflow Relief Measures:
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