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’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

Topic |   Coronavirus pandemic
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’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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