DBS has introduced a new initiative to help Singapore SMEs manage working capital, adopt AI and handle overseas payments.
The DBS for SMEs initiative combines advisory services, capability-building and financing support.
New clients will have access to onboarding workshops and one-on-one advisory sessions.
Sector-focused sessions will cover healthcare, building and construction, industrials, chemicals and materials.
DBS will also offer programmes for second-generation business owners on leadership succession, digital transformation and peer networking.
SMEs can also tap existing DBS BusinessClass initiatives such as Spark Gen AI and ESG Ready.
Sharon Tan, Head of SME Banking at DBS Singapore, said,
“‘DBS for SMEs’ reflects our continued commitment to supporting businesses of all sizes, from startups to established enterprises.
It reflects our drive to convene the bank’s ecosystem of partners and capabilities to help small businesses navigate uncertainty with greater confidence and build enduring businesses for the future.”
For cross-border transactions, DBS will introduce additional benefits and savings for payments and foreign exchange.
SMEs can make payments to 190 countries in 132 currencies, while SecureFX allows businesses to lock in exchange rates in advance without a credit line.
The bank is also widening access to project loans for capital-intensive projects, including those in building and construction.
Eligible companies will also have greater access to working capital loans through the enhanced Enterprise Financing Scheme with Enterprise Singapore.
The initiative follows Singapore’s S$900 million support package for businesses, which includes measures to ease near-term cost pressures while supporting longer-term transformation.
DBS for SMEs will also feature in a National Day campaign spotlighting local entrepreneurs and businesses.
Interested businesses can sign up for the DBS for SMEs sessions here.
Featured image: Edited by Fintech News Singapore, based on image by Magnific
