SMEs apply for S$1.9b of loans in March and April, with high approval rates

Singapore

SMALL and medium-sized enterprises (SMEs) in Singapore have applied for around 2,500 loans amounting to about S$1.9 billion since the beginning of March.

The loans, taken out under Enterprise Singapore's (ESG) financing schemes, are about six times the credit extended over the same period of March 2 to April 30 last year.