11 Feb '11, 2pm

SPRING loans to SMEs fall as economy rebounds: SPRING Singapore gave out loans worth $2.7 billion to small and m...

SPRING Singapore gave out loans worth $2.7 billion to small and medium enterprises (SME) last year, a big drop from the $6.1 billion in 2009, when banks had cut funding to SMEs because of the global financial crisis. With the economy recovering strongly last year, banks had ramped up commercial lending to SMEs. Still, SPRING on Friday said 3,500 SMEs participated in upgrading programmes last year and these would generate about 16,000 new jobs and add $4.8 billion to the Singapore's economy within the next two years. And to further boost productivity, SPRING said it would be launching sector-specific programmes this year. SPRING chief executive Png Cheong Boon said: "There are 12 sectors that have been identified by the National Productivity and Continuing Education Council. Among these 12 sectors, there are some that SPRING is looking into, including retail, food services,...

Full article: http://www.todayonline.com/Business/EDC110211-0000629/SPR...

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