Singapore’s financial business district has seen a notable slowdown since the start of the Covid-19 pandemic, with businesses suffering from their inability to obtain loans from local banks. Photo: AFP
Singapore’s financial business district has seen a notable slowdown since the start of the Covid-19 pandemic, with businesses suffering from their inability to obtain loans from local banks. Photo: AFP

Singapore firms in aviation, construction struggle to get loans amid credit tightening

  • Loan brokers say banks have tightened the purse strings for worst-hit business sectors as the coronavirus pandemic drags on
  • Loan approval rates in some sectors have fallen to as low as 20 per cent, although banks claim they have stepped up support for firms

Singapore’s financial business district has seen a notable slowdown since the start of the Covid-19 pandemic, with businesses suffering from their inability to obtain loans from local banks. Photo: AFP
Singapore’s financial business district has seen a notable slowdown since the start of the Covid-19 pandemic, with businesses suffering from their inability to obtain loans from local banks. Photo: AFP
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