# Bridge Lenders for Singapore Commercial Real Estate: When TDSR Leaves No Room for the Deal

Insights article · Singapore · Published 2026-10-23

> Your residential mortgages have maxed your TDSR and the bank will not touch the strata office or shophouse you want. A bridge lender for commercial real estate assesses the asset and exit, not your debt-service headroom.

Your bank declined. Not because the shophouse or strata office you want is overpriced, or because your balance sheet is weak. The reason is simpler: your residential mortgages, the family home and perhaps a condo investment, have pushed your TDSR past the 55% limit.

This is the point where Singapore's HNW investors run into a wall. Banks apply the [TDSR framework](https://www.mas.gov.sg/regulation/explainers/tdsr-for-property-loans) to property loans across the board, commercial or residential, and once you hit the threshold, the income calculator does not move regardless of how strong the underlying asset is.

Bridge lenders for commercial real estate start from a different question. Not "can this borrower service this debt from income?" but "is the asset solid, and is the exit credible?" That shift in underwriting logic is what opens the door.

> **Why this matters:** For Singapore investors and corporates with strong balance sheets but high residential debt exposure, TDSR creates a hard ceiling on commercial acquisitions that are perfectly viable on their own asset fundamentals.

## Highlights

- Banks in Singapore apply TDSR to all individual property loans, commercial as well as residential.
- Private bridge lenders assess commercial real estate on LTV and exit, not debt-service ratios.
- Eligible security includes strata offices, conservation shophouses, and light industrial units.
- Loan sizes from $1M to $100M, up to 70% LTV, terms of 3 to 24 months.
- Typical term sheet within 24 hours; drawdown in about two weeks (timelines are indicative).
- [Talk to a specialist](https://www.rikvincapital.com/sg/contact-us)

## Why TDSR Blocks Commercial Acquisitions

Many investors assume TDSR is a residential safeguard. In practice, banks in Singapore apply it to all property loans extended to individuals. A strata office acquisition, a shophouse purchase, an industrial unit: each draws from the same 55% headroom as your family home's mortgage.

Once you are at or near the ceiling, the bank must decline. Not because the commercial deal is flawed, but because the income-to-debt calculation says it cannot proceed. The MAS framework is a system-level control, not an asset-by-asset judgement call.

That is exactly where bridge lenders for commercial real estate operate differently. As excluded moneylenders lending only to accredited investors and corporates, they underwrite the asset and the exit. The assessment covers LTV, rental covenant, market liquidity, and disposal timeline, not an income-ratio ceiling.

## How a Commercial Bridge Is Structured

At Rikvin Capital, a [shophouse bridge loan](https://www.rikvincapital.com/sg/bridging-loans/shophouse-bridging-loan) or [strata office bridge facility](https://www.rikvincapital.com/sg/bridging-loans/office-bridging-loan) begins with the asset and the exit. What does the independent valuation say? What is the LTV? How does the borrower exit within the agreed term?

Loan sizes run from $1M to $100M, with LTV up to 70% on qualifying Singapore commercial assets. Terms are 3 to 24 months. Interest can be rolled up, so there is no monthly cash servicing requirement during the facility. Lending on a vacant or part-let unit is considered case by case, subject to terms; where it is agreed, rolling up interest gives you time to secure a lease before conventional refinancing.

If you have a deal in view, [share the details with our team](https://www.rikvincapital.com/sg/contact-us) for an indicative term sheet within 24 hours. Drawdown typically completes in about two weeks, though urgent situations have completed inside seven days.

## What Makes a Good Commercial Security

Strata office units in the CBD and its fringe corridors are the clearest case: liquid market, institutional buyer universe, reliable valuation comparables. Conservation shophouses carry a heritage premium that has tended to support stable valuations, which can make them reliable bridge security.

Light industrial and logistics units in designated zones are also eligible, provided the tenancy covenant or occupancy position is solid. For a worked example of a prime Singapore commercial acquisition bridged ahead of a conventional refinance, [see our Geylang case study](https://www.rikvincapital.com/sg/case-study/successful-bridge-loan-solutions-prime-geylang-property).

The exit logic matters more than the asset type. A sitting tenant with an institutional buyer lined up is a materially stronger proposal than a vacant property with a vague disposal plan. Borrowers should state clearly: sale within the term, commercial bank refinance once the asset is stabilised, or lease-up to a rental yield that supports long-term hold.

![Singapore CBD Grade A office tower exterior daytime](https://media.rikvincapital.com/rikvin-media/unsplash-1784260975298-2014-1200x630.jpg)
*Strata office units in the CBD offer an institutional buyer universe and reliable comparables, making them the clearest commercial bridge security.*

## When This Tool Fits and When It Does Not

A commercial bridge is right when the gap is one of eligibility or timing, not fundamental viability. The deal must make sense at the asset level: fair acquisition price, LTV within reach, and an exit that is realistic within a 3 to 24 month window.

It is the wrong instrument when the exit depends on conjecture: a market rerating that may not arrive in time, a refinance that assumes bank appetite the borrower cannot evidence, or a development return still on paper. Private bridge pricing reflects the short term and the asset-led underwriting behind it. That cost only makes sense for a borrower with a credible plan.

To understand [how the lending process works from first call to drawdown](https://www.rikvincapital.com/sg/process), the timeline is straightforward: term sheet within 24 hours, drawdown in about two weeks. For more on how short-term private structures address TDSR-constrained borrowers, [this overview of short-term property loan options](https://www.rikvincapital.com/sg/insights/short-term-property-loans-to-help-tdsr-roadblocks) covers the mechanics in depth.

## Frequently asked questions

### Does TDSR apply to commercial property loans in Singapore?

Yes. Banks in Singapore apply TDSR to all property loans extended to individuals, including facilities secured against commercial real estate such as strata office units or shophouses. The 55% threshold does not distinguish by asset class. Accredited investors and corporates borrowing from excluded moneylenders fall outside this constraint. Terms are indicative.

### Which commercial assets can be used as security for a bridge loan?

Strata office units, URA conservation shophouses, and light industrial or logistics properties in Singapore are standard eligible security. The key factors are a credible independent valuation, LTV within the 70% ceiling, and a defined exit: sale, commercial bank refinance, or documented lease-up. Each case is assessed individually, subject to due diligence.

### How quickly can a commercial bridge facility be arranged?

An in-principle term sheet can be issued within 24 hours. Drawdown typically completes in about two weeks, subject to valuation and legal timelines. Urgent situations have completed inside seven days where all parties move promptly. All timelines are indicative and subject to the specific deal.

### Can I borrow through a corporate entity or SPV?

Yes. Rikvin Capital lends to accredited investors and corporates, including Singapore-incorporated SPVs. Corporate borrowers avoid the personal TDSR constraint, which is one structural reason to consider this route for ongoing commercial acquisition programmes. Eligibility and terms are assessed on a deal-by-deal basis.

### What is the maximum LTV available on Singapore commercial real estate?

Up to 70% LTV is available on qualifying commercial assets, subject to formal valuation and due diligence. Loan sizes run from $1M to $100M on terms of 3 to 24 months. All figures are indicative and subject to the specific asset, borrower profile, and exit plan.

For borrowers who understand the asset and have a clear path to exit, the bank's TDSR ceiling is a timing constraint, not a verdict on the deal.

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Markdown version of https://www.rikvincapital.com/sg/insights/bridge-lenders-commercial-real-estate-singapore-tdsr — provided by Rikvin Capital for AI agents. Site index: https://www.rikvincapital.com/llms.txt