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CIMB COVID-19 SCHEMES

CIMB COVID-19 Schemes

A suite of 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.

CIMB C-19

CIMB C-19 is for all businesses that require working capital financing support.

CIMB C-19 Features

Loan Amount

Up to S$5,000,000 / Borrower Group*

Loan Tenure

Up to 5 years

Interest Rate

Competitive rate

Loan Repayment

Service interest only for up to 12 months

Eligibility
  • Be a business entity that is registered and physically present in Singapore
  • At least 30% local equity held directly or indirectly by Singaporean(s) and/or Singapore PR(s), determined by the ultimate individual ownership

* Borrower Group consists of the following:

   a) Borrower; and

   b) Corporate shareholders that hold more than 50% of the total shareholding of the applicant company, and any subsequent corporate       

       parents (all levels up), and subsidiaries all levels down. (Annual sales turnover and employment size is computed on a group basis.)

How To Apply

 

Step 1: Download the following forms

 

 

Step 2: Submit form to sg.commercialbanking@cimb.com

 

 

OR

 

Terms and Conditions

More Information

CIMB C-19 (Temporary Bridging Loan)

The Temporary Bridging Loan Programme (TBLP) provides access to working capital for business needs.

 

As announced at Supplementary Budget 2020, eligible enterprises may borrow up to $5 million under the TBLP, with the interest rate capped at 5% p.a., from the bank. The Government will provide 90% risk-share on these loans.

 

Eligible enterprises under the TBLP may also apply for up to 1 year deferral of principal repayment to help manage their debt, subject to assessment by the bank. 

 

The TBLP started in March 2020, and is available until 31 March 2021. 

CIMB BizAssist (Working Capital Loan)

What is the objective of the CIMB BizAssist? 

 

  • CIMB BizAssist is available to SMEs across all industries to help them address their working capital needs during this period of uncertainty. The maximum loan quantum will be raised from S$600,000 to S$1mil. 

 

Who is eligible for CIMB BizAssist?

 

  • Available to SMEs across all industries. SMEs must fulfil the eligibility criteria;

i. Business entity that is registered and physically present in Singapore;

ii. Have at least 30% local equity held directly or indirectly by Singaporean(s) and/or Singapore PR(s), determined by the ultimate individual ownership;

iii. SME Criteria; i.e. enterprise with a Group revenue below S$100mil or Group Employment size below 200

 

Can enterprises apply for CIMB C-19 and CIMB BizAssist at the same time?

 

  • Enterprises can apply for both CIMB C-19 and CIMB BizAssist if they meet the criteria for each scheme, subject to assessment by the bank.

 

Find out more about EFS here.

CIMB BizAssist

We offer one of the most attractive packages in the market for small and medium enterprises across all industries, to address their working capital needs.

CIMB BizAssist Features

Loan Amount

Up to S$1,000,000 / Borrower

Loan Tenure

Up to 5 years

Interest Rate

Competitive Rate

Loan Repayment

Service interest only for up to 12 months

Eligibility

  • Be a business entity that is registered and physically present in Singapore
  • At least 30% local equity held directly or indirectly by Singaporean(s) and/or Singapore PR(s), determined by the ultimate individual ownership
  • Maximum Borrower Group* revenue cap of S$500 million for all enterprises
  • For "SME Working Capital", the SME definition refers to Group revenue of up to S$100 million or maximum employment of 200 employees

* Borrower Group consists of the following:

   a) Borrower; and

   b) Corporate shareholders that hold more than 50% of the total shareholding of the applicant company, and any subsequent corporate       

       parents (all levels up), and subsidiaries all levels down. (Annual sales turnover and employment size is computed on a group basis.)

How To Apply

 

Step 1: Download the following forms

 

 

Step 2: Submit form to sg.commercialbanking@cimb.com

 

 

OR

 

Terms & Conditions

More Information

CIMB C-19 (Temporary Bridging Loan)

The Temporary Bridging Loan Programme (TBLP) provides access to working capital for business needs.

 

As announced at Supplementary Budget 2020, eligible enterprises may borrow up to $5 million under the TBLP, with the interest rate capped at 5% p.a., from the bank. The Government will provide 90% risk-share on these loans.

 

Eligible enterprises under the TBLP may also apply for up to 1 year deferral of principal repayment to help manage their debt, subject to assessment by the bank. 

 

The TBLP started in March 2020, and is available until 31 March 2021. 

CIMB BizAssist (Working Capital Loan)

What is the objective of the CIMB BizAssist? 

 

  • CIMB BizAssist is available to SMEs across all industries to help them address their working capital needs during this period of uncertainty. The maximum loan quantum will be raised from S$600,000 to S$1mil. 

 

Who is eligible for CIMB BizAssist?

 

  • Available to SMEs across all industries. SMEs must fulfil the eligibility criteria;

i. Business entity that is registered and physically present in Singapore;

ii. Have at least 30% local equity held directly or indirectly by Singaporean(s) and/or Singapore PR(s), determined by the ultimate individual ownership;

iii. SME Criteria; i.e. enterprise with a Group revenue below S$100mil or Group Employment size below 200

 

Can enterprises apply for CIMB C-19 and CIMB BizAssist at the same time?

 

  • Enterprises can apply for both CIMB C-19 and CIMB BizAssist if they meet the criteria for each scheme, subject to assessment by the bank.

 

Find out more about EFS here.

CIMB Biz Relief

As an existing CIMB customer, you can now opt-in for CIMB Biz Relief Scheme to defer payments for secured and non-secured loans until 31st December 2020. The CIMB Biz Relief Scheme is in addition to the Special Financial Relief Programme that CIMB will offer in accordance to Monetary Authority of Singapore’s (“MAS”) guidelines on SME financing.

 

At CIMB, your business is important to us and hence, we strive to provide the best support for your business.

Features

Special Financial Relief Programme by MAS
CIMB Biz Relief

Eligibility

SMEs

All customers of Commercial Banking Singapore

Facility Type

Term Loan

Term Loan & Trade Loan

Term Loan Features

  • Borrowers can choose to defer payment of principal and pay only for interest until 31st December 2020

  • Borrowers can also choose to defer part of the principal repayment

  • Borrowers can choose to extend the loan tenure by up to the corresponding principal deferment period

  • Borrowers can choose to defer payment of principal only or principal and interest for up to 9 months i.e. from 1st April to 31st December 2020

  • Borrowers can also choose to defer part of the principal repayment

  • Borrowers can choose to extend the loan tenure by up to the corresponding interest only payment period

Trade Loan Features

N/A

  • Extension of all maturing trade bills between 1st April 2020 and 30th June 2020 for up to 180 days

  • Allow additional 90 days to the existing approved tenure for new drawings of trade bills covering all new drawings on or before 30th June 2020

Conditions

  • Fully secured loan, taking into account the Bank's internal haircut policy on the collateral(s)

  • Opt-in basis for borrowers with no loan repayments that are more than 90 days past due as at 6th April 2020

  • No need for borrowers to demonstrate specific impact from COVID-19

  • Granted expeditiously in response to borrower's request for deferment, but requests may be denied in exceptional cases

  • All fully secured, partially secured and unsecured term loan and trade loans

  • Opt-in basis, for borrowers with no loan repayments that are more than 90 days past due as at 6th April 2020

  • No need for borrowers to demonstrate specific impact of COVID-19

  • Automatic pre-approved for customers subject to T&Cs

  • The relief programme is only applicable for applications received before 31st December 2020 with one-time indulgence per account during application period

How To Apply

Terms & Conditions

More Information

CIMB C-19 (Temporary Bridging Loan)

The Temporary Bridging Loan Programme (TBLP) provides access to working capital for business needs.

 

As announced at Supplementary Budget 2020, eligible enterprises may borrow up to $5 million under the TBLP, with the interest rate capped at 5% p.a., from the bank. The Government will provide 90% risk-share on these loans.

 

Eligible enterprises under the TBLP may also apply for up to 1 year deferral of principal repayment to help manage their debt, subject to assessment by the bank. 

 

The TBLP started in March 2020, and is available until 31 March 2021. 

CIMB BizAssist (Working Capital Loan)

What is the objective of the CIMB BizAssist? 

 

  • CIMB BizAssist is available to SMEs across all industries to help them address their working capital needs during this period of uncertainty. The maximum loan quantum will be raised from S$600,000 to S$1mil. 

 

Who is eligible for CIMB BizAssist?

 

  • Available to SMEs across all industries. SMEs must fulfil the eligibility criteria;

i. Business entity that is registered and physically present in Singapore;

ii. Have at least 30% local equity held directly or indirectly by Singaporean(s) and/or Singapore PR(s), determined by the ultimate individual ownership;

iii. SME Criteria; i.e. enterprise with a Group revenue below S$100mil or Group Employment size below 200

 

Can enterprises apply for CIMB C-19 and CIMB BizAssist at the same time?

 

  • Enterprises can apply for both CIMB C-19 and CIMB BizAssist if they meet the criteria for each scheme, subject to assessment by the bank.

 

Find out more about EFS here.

Shariah-compliant Alternatives

All corporates and SMEs can now apply for the CIMB C-19-i financing amount of up to S$5 million and service profit only for 12 months, with:

 

  1. CIMB C-19-i (TBF) and
  2. CIMB BizAssist-i (EWCF)
  3. CIMB Biz Relief-i

CIMB C-19-i (Temporary Bridging Financing)

CIMB C-19-i is a Shariah-compliant alternative for all businesses that require working capital financing support.

CIMB C-19-i Features

Max Financing Quantum

Up to S$5,000,000 / Customer Group*

Max Financing Tenure

Up to 5 years

Financing Profit Rate

Competitive rate

Financing Payment

Service profit only for up to 12 months

Eligibility

  • Be a business entity that is registered and physically present in Singapore
  • At least 30% local equity held directly or indirectly by Singaporean(s) and/or Singapore PR(s), determined by the ultimate individual ownership

* Customer Group consists of the following:

   a) Customer; and

   b) Corporate shareholders that hold more than 50% of the total shareholding of the applicant company, and any subsequent corporate       

       parents (all levels up), and subsidiaries all levels down. (Annual sales turnover and employment size is computed on a group basis.)

CIMB BizAssist-i (Enhanced Working Capital Financing)

CIMB is offering one of the most attractive packages in the market, including Islamic solutions, for small and medium enterprises (SMEs) across all industries to address their working capital needs.

CIMB C-19-i Features

Max Financing Quantum

Up to S$1,000,000 / Customer

Max Financing Tenure

Up to 5 years

Financing Profit Rate

Competitive rate

Financing Payment

Service profit only for up to 12 months

Eligibility

  • Be a business entity that is registered and physically present in Singapore
  • At least 30% local equity held directly or indirectly by Singaporean(s) and/or Singapore PR(s), determined by the ultimate individual ownership
  • Maximum Customer Group* revenue cap of S$500 million for all enterprises
  • For "SME Working Capital", the SME definition refers to Group revenue of up to S$100 million or maximum employment of 200 employees

* Customer Group consists of the following:

   a) Customer; and

   b) Corporate shareholders that hold more than 50% of the total shareholding of the applicant company, and any subsequent corporate       

       parents (all levels up), and subsidiaries all levels down. (Annual sales turnover and employment size is computed on a group basis.)

CIMB Biz Relief-i

As an existing CIMB customer, you can now opt-in for CIMB Biz Relief-i Scheme to defer payments for secured and non-secured financings until 31st December 2020. The CIMB Biz Relief-i Scheme is in addition to the Special Financial Relief Programme that CIMB will offer in accordance to Monetary Authority of Singapore’s (“MAS”) guidelines on SME financing.

 

At CIMB, your business is important to us and hence, we strive to provide the best support for your business.

Features

Special Financial Relief Programme by MAS
CIMB Biz Relief-i

Eligibility

SMEs

All customers of Commercial Banking Singapore

Facility Type

Term Financing-i

Term Financing-i
Term Financing-i Features

 

  • Customers can choose to defer payment of principal and pay only for profit until 31st December 2020

  • Customers can also choose to defer part of the principal payment

  • Customers can choose to extend the financing tenure by up to the corresponding principal deferment period

 

  • Customers can choose to defer payment of principal only or principal and profit for up to 9 months i.e. from 1st April to 31st December 2020

  • Customers can also choose to defer part of the principal payment

  • Customers can choose to extend the financing tenure by up to the corresponding profit only payment period

Conditions

  • Fully secured financing, taking into account the Bank's internal haircut policy on the collateral(s)

  • Opt-in basis for customers with no financing payments that are more than 90 days past due as at 6th April 2020

  • No need for customers to demonstrate specific impact from COVID-19

  • Granted expeditiously in response to customer's request for deferment, but requests may be denied in exceptional cases


  • All fully secured, partially secured and unsecured term financing

  • Opt-in basis for customers with no financing payments that are more than 90 days past due as at 6th April 2020

  • No need for customers to demonstrate specific impact from COVID-19

  • Automatic pre-approved for customers subject to T&Cs

  • The relief programme is only applicable for applications received before 31st December 2020 with one-time indulgence per account during application period

How To Apply

 

Step 1: Download the following forms

 

 

Step 2: Submit form to sg.commercialbanking@cimb.com

 

 

OR

 

Terms & Conditions

More Information

CIMB C-19-i (Temporary Bridging Financing)

The Temporary Bridging Financing Programme (TBFP) provides access to working capital for business needs.

 

As announced at Supplementary Budget 2020, eligible enterprises may obtain financing of up to $5 million under the TBFP, with the profit rate capped at 5% p.a., from the bank. The Government will provide 90% risk-share on these financings.

 

Eligible enterprises under the TBFP may also apply for up to 1 year deferral of principal payment to help manage their payables, subject to assessment by the bank. 

 

The TBFP started in March 2020, and is available until 31 March 2021.

CIMB BizAssist-i (Working Capital Financing)

What is the objective of the CIMB BizAssist-i? 

 

  • CIMB BizAssist-i is available to SMEs across all industries to help them address their working capital needs during this period of uncertainty. The maximum financing quantum will be raised from S$600,000 to S$1mil. 

 

Who is eligible for CIMB BizAssist-i?

  • Available to SMEs across all industries. SMEs must fulfil the eligibility criteria;

 

i.Business entity that is registered and physically present in Singapore;

ii.Have at least 30% local equity held directly or indirectly by Singaporean(s) and/or Singapore PR(s), determined by the ultimate individual ownership;

iii.SME Criteria; i.e. enterprise with a Group revenue below S$100mil or Group Employment size below 200

 

Can enterprises apply for CIMB C-19-i and CIMB BizAssist-i at the same time?

  • Enterprises can apply for both CIMB C-19-i and CIMB BizAssist-i if they meet the criteria for each scheme, subject to assessment by the bank.

 

Find out more about EFS here.