• CIMB COVID-19 Schemes
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As part of CIMB’s relief measures, businesses can now apply assistance to tide through these volatile times. With the escalating severity of the COVID-19 pandemic, we understand it is a distressing period for businesses. Let CIMB weather the storm together with you so that no business get left behind.

For existing CIMB customers, you can now opt-in for :

All corporates and SMEs can now apply for the CIMB C-19 loan amount of up to S$5 million and service interest only for 12 months. Two types of available schemes :

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.

  Special Financial Relief Programme by MAS CIMB Biz Relief 
Features    
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

For more information on how to opt-in, contact your Relationship Manager or email us at sg.commercialbanking@cimb.com with the following information :

  • Company Name
  • Name of Contact Person
  • Registered Contact Number with the Bank

or

CIMB C-19 is catered to both SME & non-SME businesses that require working capital financing support.

 

  CIMB C-19
Features  
Eligibility SMEs and Non-SMEs 
Facility Type Term Loan
Max Loan Quantum Up to S$5 million
Max Loan Tenure Up to 5 years
Loan Repayment Service interest only up to 12 months
Facility Fee Waived

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

 

  CIMB BizAssist
Features  
Eligibility SMEs
Facility Type Term Loan
Max Loan Quantum Up to S$1mil
Max Loan Tenure Up to 5 years
Facility Fee Waived
 

Email us at sg.commercialbanking@cimb.com     

or

 

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;
    1. Business entity that is registered and physically present in Singapore;
    2. Have at least 30% local equity held directly or indirectly by Singaporean(s) and/or Singapore PR(s), determined by the ultimate individual ownership;
    3. 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.

Standard Terms & Conditions for CIMB C-19 and BizAssist apply. Click here for full Terms & Conditions.

Businesses from the following sectors are also subjected to adhere to the Safe Distancing Measure :

  1. Food & beverage establishments
  2. Retail establishments
  3. Shopping malls and 
  4. Standalone stores
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