SINGAPORE (May 5): United Overseas Bank (UOB) has approved $4 billion in loans under the Temporary Bridging Loan Programme (TBLP).
The programme, which started in March 2020, and is valid till March 2021, helps provide access to businesses with working capital. These businesses may borrow up to $5 million capped at a 5% p.a. interest rate from Participating Financial Institutions (PFIs).
The government will be sharing 90% of the risk on such loans for applications submitted from April 8 to March 31, 2021.