C19 Providence Loan

The Covid-19 Providence Fund for Business Continuity and Transformation connects businesses to funders for short-term business funding, as a form of financial assistance to companies affected by the precautionary measures against the Covid-19 pandemic imposed on businesses and facilitate transformational growth for business continuity. Companies with main operations based in the Africa and ASEAN regions that meet criteria are eligible for the fund application.


Loan Quantum, Tenure & Interest Rate

    • Maximum loan quantum: SGD 150,000.
    • Interest rate: 1.5% per month for 18 months.
    • Deferment of repayment for 3 months. Repayment from 4th to 18th month.
    • Funds disbursed from lenders.


    • Incorporated for at least 2 years
    • Paid-up capital of at least SGD 20,000
    • Annual revenue of at least 6 times the loan quantum for past 2 fiscal years
    • Notice of Assessment (for annual filing) from respective tax authority
    • Audited financial statements and annual reports
    • Bank statements for past 6 months
    • Projected revenue
    • Invoice receivables
    • Copies of contracts and AR/AP aging list to show future cash flow
    • Economic outlook for industry / sector

    * Not all companies that meet the criteria will be awarded a loan. Sole discretion rests on the lenders' interest & confidence in the business on a case-by-case basis.


Application Process

Review and assessment of each application takes approx. 40 – 60 days and comprises the following.

  • Corporate profiles & business models of the applicants
  • Latest management accounts and audited financial statements
  • Various streams of revenue and revenue recognition policies
  • Cash management policies
  • Trade receivables turnover days, trade payables turnover days and working capital requirements
  • Collections and doubtful debts
  • Last 6 months’ bank listings
  • Reasonableness of transactions