About SICCI COVID-19 Task Force

Upon assuming leadership and responsibility in May 2020, the Singapore Indian Chamber of Commerce and Industry’s (SICCI) new board has set up a SICCI Covid-19 Task Force with the singular aim of helping businesses course through the COVID-19 crisis.

In doing so, it helps SICCI members navigate the pandemic relief schemes, procure financial support and stay abreast of changes to take on business opportunities when conditions improve.

The task force is spearheaded by Mr. Chandra Mohan Rethnam, Vice Chairman of SICCI and a partner at law firm Rajah & Tann. He is supported by board directors Mr. Parthiban Murugaiyan and Mr. JK Saravana.

Thus far, the task force has been actively reaching out to members and non-members alike through its initiatives. It has conducted four webinars on business resilience, digitalization, financial management and leveraging on government schemes and support. A survey was also administered to better understand the needs of SMEs and provide guided assistance during such trying times.

The key actions of the taskforce include connecting businesses to financial institutions, helping businesses upgrade and promoting new opportunities, providing feedback to the government, addressing key issues faced by the business community and disseminating key information as a dedicated communication channel.

SICCI-Helps

SICCI-Helps’ is an initiative by the SICCI Covid-19 Task Force that partners Banking & Private Financial Institutions across Singapore to help Indian business owners.

All Indian businesses are encouraged to use the special promo code ‘SICCI-Helps’ with partnering Banking & Private Financial Institutions to enjoy special interest rates and processing fees savings and benefits.

Along with the following list of partnering Banking & Private Financial Institutions, we have also provided a comprehensive list of useful websites and contact details of other private and government-supported business assistance schemes currently available.

The SICCI Covid-19 Task Force wishes all businesses the very best!

 

Organisation Name

 

Solution

 

Details

 

Website / Contact Details

 BANKS
DBS

 

Finance Temporary Bridging Loan (Up to $1 million) ‘SICCI-Helps’ Promo Code – Special Interest Rate & Processing Fee waived.

https://www.dbs.com.sg/sme/covid-19-relief-measures.page

For companies turnover less than $20M :
Contact person:  Mr Danial Govindan
Contact number:  +65 68782573
Email: danialgovindans@dbs.com

For companies turnover more than $20M :
Contact Person: Ms Cheryl Tan Pei Qi
Contact Number: +65 6682 2578
Email: cheryltanpq@dbs.com

HSBC Finance Working Capital Loan (Upto $1 Million) /

Temporary Bridging Loan (Upto $5 Million)

‘SICCI-Helps’ Promo Code – Special Interest Rate & Processing Fee Waived.

https://www.business.hsbc.com.sg/en-sg/business-continuity-plan

Contact Person: Will Longhurst
Contact Number: +65 9776 4172
Email: william.longhurst@hsbc.com.sg

RHB Finance Working Capital Loan (Upto $1 Million) /

Temporary Bridging Loan (Upto $5 Million)

‘SICCI-Helps’ Promo Code – Special Interest Rate & Processing Fee Waived.

https://rhbgroup.com.sg/others/news-alerts

Contact Person: Ong Hwee Bein
Contact Number: +65 9839 2134
Email: ong.hwee.bein@rhbgroup.com

CIMB Finance CIMB BizAssist (Upto $1 Million) /

CIMB C-19 (Upto $5 Million)

‘SICCI-Helps’ Promo Code – Special Interest Rate & Processing Fee Waived.

https://www.cimbbank.com.sg/en/business/news-and-promotions/promotions/covid19-schemes.html

Contact Number: +65 6302 3843
Email: sgb.cmbspartners@cimb.com

United Overseas Bank

 

Finance Enhanced SME Working Capital Loan (Upto $600,000) / Temporary Bridging Loan(Upto $1 Million)

‘SICCI-Helps’ Promo Code – Special Interest Rate & Discounted Processing Fee.

https://www.uobgroup.com/uobgroup/covid-sme-relief-assistance.page

Contact Person: Sherlyn Choy
Contact Number : +65 8100 5661
Email: Sherlyn.ChoyPS@uobgroup.com

Standard Chartered Bank

 

Finance Temporary Bridging Loan (Upto $1 Million)

‘SICCI-Helps’ Promo Code – Special Interest Rate & Discounted Processing Fee.

https://www.sc.com/sg/important-information/supportive-measures/

Contact Person: Morgan Gopalan
Contact Number: +65 9107 7701
Email: morgan.gopalan@sc.com

Disclaimer

‘Please note that the interest rates of private institutions may be higher than banks and the institutions in the list are purely recommendations. All businesses are strongly encouraged to exercise some discretion in contacting the private institutions and SICCI will not bear responsibility for costs which may incur as a result of any correspondence.’

 

Organisation Name

 

Solution

 

Details

 

Website / Contact Details

PRIVATE FINANCIAL INSTITUTIONS
Cash-IN-Asia Finance Flexible Credit Line($3,000 to $150,000)

• Minimum monthly repayment of 10% on total outstanding.

Term Loan ($3,000 to $150,000)

• Fixed repayment term loan (from 6 to 12 months)

·      Get a credit limit within 3 hours

·      Get cash in bank within 3 hours

·      Low Interest rate of 1.5% to 2% per month

·      Bi-monthly credit limit reassessment

‘SICCI-Helps’ Promo Code – 50% Off Processing Fee & 10% discount on annualised interest rate if payment is prompt.

https://cashinasia.com

Contact Person: Sriraj
Contact Number: +65 8389 9688 /+65 9222 6868
Email: sriraj@cashinasia.com

TCC

 

Finance Personal Loan (Upto $50,000)

‘SICCI-Helps’ Promo Code – 50% off Processing Fee. 

https://www.tcc.org.sg/
Lyte Finance Finance Business Loans ($10,000 to $500,000)

‘SICCI-Helps’ Promo Code – Lowest Published Interest Rate & Processing Fee Waived.

https://www.lytefinance.com/

Contact Person: Jean Betul
Contact Number: +65 9067 7065
Email: jean.butel@lyteventures.com

Funding Societies  Finance FS Bolt Loan (24 Hrs Approval – $3,000 to $100,000)

• Business Loan (Unsecured Upto $1.5M & Secured upto $3M)

• Invoice Financing ( $5,000 to $1M)

• Grant Advance Rollout (JSS, etc)

‘SICCI-Helps’ Promo Code – Lowest Published Interest Rate & 40% off Processing Fee.

https://bit.ly/319ymHW

Contact Person: Shrawan Saraogi
Contact Number: + 65 8246 1987
Email: shrawan.saraogi@fundingsocieties.com

SESAMI – Capital Match Finance Invoice Financing Market Place

·         DBS – Get 100% of Invoice Amount Upfront

·         CIMB – Get upto 80% of Invoice Amount Upfront

·        Available to any supplier to Singtel, SATS, SRC, SIA & NUS.

·        No financial documents needed for onboarding.

·        No Personal Guarantees required.

‘SICCI-Helps’ Promo Code – Special Interest Rate

Property Financing

‘SICCI-Helps’ Promo Code – Special Interest Rate

https://www.capital-match.com/en/sesami.html

Invoice Financing Market Place

Contact Person: Sharath Singh
Contact Number: +65 9161 1681
Email: sharath@capital-match.com

Property Financing

Contact Person: Kriti Sama
Contact Number: +65 8230 1958
Email: kriti@capital-match.com

Fund Tier Finance GO Digital Financing

·        This promo through 2 Partners stated below.

·        Dodoca International – They specialise in Wechat Marketing and Wechat Mobile shop and payments. http://www.dodoca.com.sg/

·        Keepital – they are a B2B marketplace and specialise in offering sales and management orders solutions. https://www.keepital.com/

‘SICCI-Helps’ Promo Code –  Interest Rate & Processing Fee Waived

Working Capital Bridging Loan

·        For Companies while awaiting Bank Loans.

‘SICCI-Helps’ Promo Code – Lowest Published Interest Rate & Processing Fee Waived.

https://fundtier.com/

Contact Person: Joey Chin
Contact Number: +65 9172 4009
Email: joey.chin@fundtier.com

Validus Finance

Invoice Financing (48-hrs Approval, up to $500,000)

  • Min. docs required to apply
  • No hidden fees: One-time disbursement fee and interest charges only
  • Pre-approved if your business is eligible for ‘Validus CVF Programme’

Purchase Order Financing (up to 60% of PO amt)

  • No hidden fees: One-time disbursement fee and interest charges only
  • Min. docs required to apply
  • Conditions apply

‘SICCI-Helps’ Promo Code – 30% off disbursement fee (no cap) for first loan.

Apply at  https://validus.sg/sctf

Contact Person:  Subaish s/o Rajamanickam
Contact Number: +65 9186 6213
Email: subaish@validus.sg

Lendingpot Private Limited Financing

Complimentary Business Financing Application to over 45 financial institutions in Singapore, including Banks, Non-bank Financial Institutions, Peer-to-peer Lenders, Private Lenders and Family Offices.

We are an intermediary that helps SMEs connect instantly with multiple lenders with just one application.

Completely free for SMEs.

https://www.lendingpot.sg

Contact Person: Bernice Kang
Contact Number: +65 8774 9896
Email: bernice@lendingpot.sg , ask@lendingpot.sg

CALISTA/ShuttleOne Finance

Invoice Financing ($500-$200,000)

Effective annual rate

  • As low as 5% for secured loans
  • As low as 9% for non-secured loans

‘SICCI-Helps’ Promo Code – Total waiver of all processing fee.

Apply at www.calistafinance.com/financing

Contact Person: Alex Lew
Contact Number: +65 9021 9890
Email: Hello@calistafinance.com

 

Organisation Name

 

Solution

 

Details

 

Website / Contact Details

OTHER ASSISTANCE
Action Community for Entrepreneur-ship Legal Assistance Complimentary legal advice for start-ups at the ACE legal Clinic.  The Clinic operates on alternate Tuesday afternoons at the JTC LaunchPad @ one-north. Each legal consultation session will last up to an hour. Appointments are via registration on the ACE website. https://bit.ly/2VamRfU

Contact Number: +65 6536 0650 Email:  info@ace.org.sg

e2i Manpower

Assistance

Transition Job Support to at-risk or displaced workers with career coaching, skills evaluation, access to training, job-search assistance and job-matching services to improve their employment prospects and match them into new jobs. https://e2i.com.sg/businesses/#

Contact Number: +65 6474 0606

SG Tech Digital solutions Technological Solutions to aid businesses offered by

SG tech and IMDA.

https://bit.ly/3dl2Uco
 

Organisation Name

 

Solution

 

Details

 

Website / Contact Details

GENERAL BUSINESS ENQUIRIES
Ministry of Trade and Industry General Business Queries Chatbot for Business Queries. https://www.mti.gov.sg/Chatbot/chat

(connect via google chrome)

Go Business General Business Queries Covid-19 Business Related Queries & Permissions https://covid.gobusiness.gov.sg
 

Organisation Name

 

Solution

 

Details

 

Website / Contact Details

GRANT & FUND SUPPORT
Enterprise Singapore Grant & Fund Support Special Situation Fund for Start-ups: The Special Situation Fund for Startups (SSFS) will help high-potential startups sustain their growth momentul despite the COVID-19 pandemic, for a limited time. EDBI and SEEDS capital will invest in selected startups with private sector co-investors on a 1:1 basis. https://bit.ly/3cXSD5O
Enterprise Singapore Grant & Fund Support MRA Grant: SMEs can apply for the MRA grant to finance projects relating to overseas expansion. You can receive support of up to 70% of eligible costs, capped at a maximum of $20,000 per fiscal year. https://bit.ly/2C2ECXz
Enterprise Singapore Grant & Fund Support Enterprise Development Grant: This grant supports projects that help upgrade your business, innovate or venture overseas through building core capabilities, exploring new pillars of growth and expanding into overseas markets. https://bit.ly/3fgKwme
 

Organisation Name

 

Solution

 

Details

 

Website / Contact Details

GOVERNMENT RELIEF & SUPPORT
Enterprise Singapore Government Relief & Support Skillsfuture Enterprise Credit: This grant supports companies seeking to transform their business and develop employee capabilities. A $10,000 credit is given to cover up to 90% of out-of-pocket qualified costs. https://bit.ly/31aiPaP
Inland Revenue Authority of Singapore Government Relief & Support Corporate Income Tax Rebate: The rebate for the year 2020 has been increased to 25%, capped at $15,000 per company. https://bit.ly/2Nnwu6u
Ministry of Finance Government Relief & Support Digital Resilience Bonus: F&B and retail businesses can get up to $10,000 each in payouts for adopting business solutions to help defray the adoption cost. https://bit.ly/2Yo4NRc
Ministry of Finance Government Relief & Support Government Relief / Waiver, Jobs and Support Packages. https://bit.ly/3hTp2Oy

https://bit.ly/2VbFpfE

Economic Development Board

 

Manpower Government measures to cope with COVID-19. https://bit.ly/2VaNLnC
Manpower Manpower related support and schemes for businesses. https://bit.ly/3g28Ysb
 

Organisation Name

 

Solution

 

Details

 

Website / Contact Details

MENTAL HEALTH & WELLNESS
Singapore Counselling Centre Mental Health & Wellness Mental Health Support Package for companies who wish to support their staff with video counselling sessions – counselling sessions, live webinars, training for peer supporters https://bit.ly/3fIcEz0
Ministry of Manpower, Ministry of Social and Family Development,  Agency of Integrated Care, National Centre of Social Services Mental Health & Wellness Employee Assistance programme: A list of ways that employers could support their employees in the mental health and wellness aspect and a list of employee assistance programme service providers. https://bit.ly/2NmeNV1

SICCI-Cares

SICCI has partnered Club 2 Care (C2C) to provide mental well-being support for individuals and staff in businesses during these unpredictable times due to COVID-19. Please contact C2C in the event your peers, you and/ or family members are facing concerns with regards to your mental well-being.

Media & Resources

Deputy Prime Minister Heng Swee Keat speech – Fortitude Budget (26 May 2020)

Read More

Business Times article – SICCI sets up COVID-19 task force to provide crisis support for SMEs (3 June 2020)

Read More

Oli 96.8 FM radio interview – Assisting SMEs cope with COVID-19 (10 June 2020)

Read More

Chandra Mohan, Singapore Indian Chamber Of Commerce And Industry

Read More

Events & Webinars

Upcoming Events

Past Events

Ensuring Business Continuity During COVID-19 (Partners - NTUC, IMDA & SSG)
19 June 2020
Mental Wellness - Club2Care
1 July 2020
Remaining Resilient Amidst COVID-19
3 April 2020
Digitalise and Continue Business
15 April 2020
Financial Resilience: Analysing & Forecasting Finance in this Challenging Time
23 April 2020
COVID-19 Relief: Legal & Financing Support
27 April 2020
Turning Crisis into Opportunity for Singapore Investors, Emerging Stronger Post-COVID-19
11 June 2020

SICCI Covid-19 Task Force

Follow-up Questionnaire

Please fill the form

Reach the SICCI Covid-19 Task Force (SCTF)

Email: covid-19@sicci.com
Hotline: +65 6222 2855

Response within 24 hours and follow-up within three to four days.