Bridging Loan for Marine Offshore Engineering companies

Get support to tide over the slowdown in the Marine & Offshore Engineering industry, with up to S$15 million in bridging loans.

 

About

Singapore-based Marine & Offshore Engineering (M&OE) companies can get support to tide over the slowdown in the industry by accessing up to S$15 million in bridging loans. This will help you finance operations and bridge short-term cash flow gaps.

Enterprise Singapore shares the risk of loan defaults with Participating Financial Institutions in the event of company insolvency. This loan, available from December 2016, is one of two measures to provide one-off financial support for companies in the industry.

Scope

  • Working capital (eg. daily operations)

Loan Quantum

  • Up to S$5 million per company; up to $15 million per group*

Repayment Period


  • Up to 6 years

Interest Rate

  • Subject to Participating Financial Institutions’ assessments of risks involved
*A “borrower group” consists of the Applicant Company, the Applicant Company’s corporate shareholders who own >50% of total shareholding (all levels up) and the Applicant Company’s subsidiaries where the Applicant Company holds >50% of the total shareholding of the subsidiaries (all levels down). Loans made to any of the entities mentioned above will therefore count towards an aggregated S$15 million limit.

Other assistance

Companies in the M&OE industry can access up to S$70 million in credit facilities under the enhanced Internationalisation Finance Scheme (IFS), for overseas expansion. For more information, click here.

 

Eligibility

Local enterprises registered and operating in Singapore with at least 30% local shareholding in the M&OE industry are eligible.

Sub-categories of Marine & Offshore Engineering include:

  • Shipyards
  • Contractors to shipyards
  • Offshore services providers
  • Exploration & Production (E&P) companies
  • Oil and gas (O&G) equipment and services companies
  • Suppliers to O&G equipment and services companies
 

Application

Interested Marine & Offshore Engineering companies may approach any of the following Participating Financial Institutions to apply for the Bridging Loan*.


Participating Financial Institutions Contact

DBS Bank Ltd

1800 222 2200

Ethoz Capital Ltd

6654 7799

Hong Leong Finance Ltd

1800 3388 338

IFS Capital Ltd

6270 7711

Malayan Banking Berhad

1800 777 0022

Oversea-Chinese Banking Corporation Ltd

6538 1111

RHB Bank Berhad

1800 323 0100

Standard Chartered Bank

1800 743 3000

The Hongkong and Shanghai Banking Corporation Ltd

1800 216 9008 / 6216 9008

United Overseas Bank Ltd

1800 2266 121

*Subject to banks' credit approval

 
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