Over 7,600 businesses loaned about S$7.1 billion

Singapore

MORE than 7,600 businesses in Singapore borrowed about S$7.1 billion from government-assisted schemes over the past few months, with most of the loan applications coming from the wholesale trade, manufacturing and construction sectors.

And the loan value, amassed from March till mid-June, is more than five times the credit that was extended in 2019, said Enterprise Singapore (ESG), which oversees financing schemes including the SME Working Capital Loan and Temporary Bridging Loan Programme.