Since April, banks and finance companies have been providing payment deferrals for individuals and SMEs facing short term challenges in servicing their loan instalments. The various relief measures have helped ease the cashflow pressures faced by these individuals and SMEs, and are set to expire by Dec 31.
Individuals and small and medium-sized enterprises (SMEs) facing cashflow difficulties will now have more time to repay their loans.
The extension in support measures will progressively expire over 2021, announced the Monetary Authority of Singapore (MAS), together with the Association of Banks in Singapore (ABS), as well as the Finance Houses Association of Singapore (FHAS).
