COVID-19: Financing assistance and digital solutions for SMEs

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    Seeing you and your business through to better times

    The COVID-19 pandemic has deeply impacted lives and livelihoods. While many uncertainties remain, we want you to know that we are committed to supporting you through this challenging period.

    #UnitedForYou

Latest advisory

  • Given the need to minimise face-to-face interactions, we encourage you to use our digital services wherever possible. Our self-service banking machines (with cash/cheque deposit functions) and our shared ATM network with OCBC remain fully operational.
  • Keep safe against cybercrimes. Online and phone scams are on the rise. Never disclose your Business Internet Banking username, password, One-Time Password (OTP), banking account or credit/debit card details to anyone. More on staying safe online.
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Together with our partners, we are rolling out these support measures and initiatives to help you navigate this difficult period, so you can focus on doing what's best for your business and employees.

 

Financing Assistance

Enjoy lower interest rates and higher subsidies on SME loans

Enjoy lower interest rates on SME loans

Applies to loans under the government-assisted financing scheme administered by Enterprise Singapore to support your cash flow requirements.

  • Obtain funding under SME Working Capital Loan or Temporary Bridging Loan* at a lower interest rate.

*Now extended till 31 March 2022.

 

Learn more about our loans

 

Loan Insurance Scheme / Enterprise Financing Scheme Trade facility

Enterprise Financing Scheme Trade facility (EFS Trade)

Get additional credit support for your trade facilities under EFS Trade.

  • Access financing of up to S$10 million.
  • Now extended till 31 March 2022.

 

 

 

 

FAQs

1. What is Temporary Bridging Loan?

The Temporary Bridging Loan is introduced to help enterprises alleviate cash flow concerns during the COVID-19 pandemic.

 

2. How much can enterprises loan under the Temporary Bridging Loan Programme?

Under the Temporary Bridging Loan, eligible enterprises can borrow up to S$3 million.

 

3. Who is eligible for the Temporary Bridging Loan?

Enterprises that are eligible for the Temporary Bridging Loan must meet the following:

  • A business entity that is registered and be physically present in Singapore;
  • At least 30 per cent local equity held directly or indirectly by Singaporean(s) and/or Singapore PR(s), determined by the ultimate individual ownership.

 

4. How do I apply for the Temporary Bridging Loan?

To apply, please contact your Relationship Manager, or call us at 1800 226 6121 for more information.

Alternatively, please submit your online application here.

Go Digital

Digital solutions can help businesses diversify their income streams and build resilience for the future. Explore the digital and cashless solutions below, which will be able to work seamlessly with your business accounts.

Run your business remotely with Enterpryze

UOB BizSmart featuring Enterpryze, is a business management solution that helps SMEs seamlessly manage multiple core processes such as sales, invoicing and accounting. The cloud-based platform can be connected to a UOB corporate banking account, giving you an up-to-date view of operations and company financials anytime, anywhere.

Create and send e-invoices
via InvoiceNow to customers

Collect payments faster
with PayNow QR

 

Adopt Enterpryze Accounting package with another solution at no cost for the first 6 months under the Start Digital Pack. T&Cs apply.

 

Manage human resource with HReasily

UOB BizSmart featuring HReasily, is a cloud-based human resource management system that allows SMEs to manage staff records, payroll, leave, claims, and attendance remotely with ease. With facial recognition software and GPS tracking, SMEs can track employees’ time and attendance even when they are working from home, and integrate the data automatically for payroll calculations.

UOB customers can adopt HReasily with another solution at no cost for the first 6 months under the Start Digital Pack. T&Cs apply.

 

Build your virtual store with Shopmatic

UOB BizSmart featuring Shopmatic, is an e-commerce platform that offers easy-to-use web templates and a user-friendly interface, so that you can showcase your products and services online in no time. To support your business’ digital push, we will connect you to Shopmatic’s e-commerce consultants who can provide digital marketing advice.

UOB customers can adopt Shopmatic with another solution at no cost for the first 6 months under the Start Digital Pack. T&Cs apply.

 

Connect your business to your online customers

Synagie offers easy-to-use, end-to-end e-commerce solutions to help SMEs expand into e-commerce and to manage multiple online sales channels more effectively for business growth. With Synagie’s solutions, every part of the e-commerce value chain can be managed or automated centrally and cost-efficiently, from inventory storage and management, digital marketing and multi-channel sales to distribution and fulfilment of customer orders.

Sign up for the Synagie Multichannel eCommerce Platform (MEP) package at a special price of S$6,000 (normally S$20,000), with 70% support from Enterprise Singapore.

 

Make an enquiry

Manage your F&B business digitally with Getz

Getz is a complete F&B management solution that enables you to easily set up your online and in-store contactless ordering service. The full-fledged solution also allows you to manage everything from in-store and online orders to payments, pickups and deliveries, on a single iPad. With Getz, you can drive sustainable sales growth at cost effective rates within days for your business.

Activate new sales channel by offering online ordering service with self pick-up or delivery options

Faster in-store ordering with mobile ordering and payment via QR code scan

Reduce cost by managing orders on one iPad with no additional manpower required

 

For UOB customers, enjoy low fees of 4% on online take-away/delivery sales and defray up to 80% of the setup costs under the SMEs Go Digital Programme.

 

 

 

Manage payments and collections easily with FAST/PayNow FAST and UOB Infinity

 

 

SGQR (Singapore Quick Response Code)


PayNow has been incorporated into SGQR, Singapore's unified QR label. Receive payments directly into your UOB SGD Corporate Account when customers or business partners scan your SGQR code to pay you. Click here to register for SGQR.

UOB customers enjoy fee waivers on all incoming PayNow Corporate transactions to their UOB SGD Corporate Account from now till 31 December 2022. Terms and conditions apply.

 

 

FAST/PayNow FAST


Transfer funds to individuals and businesses using their mobile number, NRIC or Unique Entity Number (UEN) with PayNow FAST. It’s secure and hassle-free, and you won’t need to share your business details or bank account number.

 

 

 

UOB mCollect


UOB mCollect is a QR-based collections solution digitalises the cash-on-delivery model for businesses. By accepting scan and pay with PayNow, you can reduce the handling of cash and cheques and receive immediate notifications upon receipt of funds. The digital records mean one less pile of paperwork to vet through, while reducing associated risks for your delivery personnel. Click here to apply for UOB mCollect.

 

 

UOB Infinity (Digital banking for business)


Introducing a new digital banking experience for businesses that lets you customise your experience, track payments from end-to-end and allows for greater efficiency and convenience. Manage all your banking needs securely and with ease with UOB Infinity. Available as a mobile app and on desktop.

 

Contact your Relationship Manager or call 1800 226 6121 for enquiries.