# Temporary Bridging Loan Ended: Refinancing a TBLP Balance Against Property or Shares

Insights article · Singapore · Published 2026-11-10

> Your TBLP facility has matured and the bank will not roll it. A private temporary bridging loan against residual property equity or pledged shares can repay the balance. Here is when that works, and when it does not.

The search for a temporary bridging loan in Singapore is rarely about a new government scheme. It is about a Temporary Bridging Loan Programme facility that has reached the end of its tenor. The bank will not roll the unsecured balance, and a director still has to repay.

Most of those files already have the factory or the office charged. What is left is personal luxury property, a share portfolio, or both.

A private, asset-backed facility can repay that residue. It is not TBLP under another name. The credit test, the security and the tenor are different, and the tool is wrong if you have no exit.

> **Why this matters:** Once the TBLP tenor ends, the outstanding balance is ordinary debt. If the bank will not refinance on income alone, a chargeable asset and a dated exit are what can repay it in time.

## Highlights

- Enterprise Singapore's TBLP has ended and is closed to new applications. It was unsecured SME credit; a private temporary bridging loan is secured on the asset and a planned exit.
- If the bank will not roll the balance, residual equity in a GCB, bungalow, condo or pledged shares is the usual path.
- We are not a bank, so TDSR does not set our credit test. We underwrite the asset and the exit, and term sheets are typically issued within 24 hours.
- Loan size $1M to $100M, tenor 3 to 24 months, up to 70% LTV. Accredited investors and corporates only. Terms are indicative.
- A bridge fits a dated repayment; it is the wrong substitute for another multi-year working-capital line.
- [Talk to a specialist](https://www.rikvincapital.com/sg/contact-us)

## Temporary bridging loan versus the TBLP scheme

Search results mix two products that share a name and almost nothing else.

Enterprise Singapore's loan schemes included the Temporary Bridging Loan Programme: government-backed, unsecured working capital for eligible SMEs, originated by participating banks. Repayment ran up to five years. The credit test was the company's business, not a first charge over a bungalow.

That scheme has ended. It is closed to new applications, so what remains in the market is not a new TBLP facility but the tail end of old ones.

A private temporary bridging loan is the opposite construction. It is short, typically 3 to 24 months. It is secured on a first charge. We underwrite the asset and a documented exit, not the company's monthly receipts. Rikvin Capital is a direct private lender and an excluded moneylender under the Moneylenders Act. We lend only to accredited investors and corporates. We are not a bank.

If you are hunting for an extension of TBLP itself, there is nothing left to apply for. If you need to repay the balance because the bank will not roll it, the rest of this note is the actual path.

## Why the bank will not simply roll the balance

The originating bank treated TBLP as scheme lending. Once the programme terms fall away, the residual is a normal corporate or director exposure. Income covenants, group leverage and [the TDSR framework](https://www.mas.gov.sg/regulation/explainers/tdsr-for-property-loans) come back into the room if any part of the refinance sits against a dwelling.

Variable pay, a thin salary drawn from the operating company, or a property already charged to the same bank can each be reason enough for a bank to decline. The file fails a covenant or a serviceability test, and the answer is no. That is a credit-policy fact, not a moral one.

A private lender does not replace TBLP with another five-year unsecured line. We look at whether a sale, a committed take-out or a dated liquidity event can repay a short facility. Read [how a bank bridge differs from a private one](https://www.rikvincapital.com/sg/insights/bank-vs-private-bridging-loan-singapore) before you assume either will fit.

## Refinancing against luxury property and pledged shares

Many directors in this position do not have a free-and-clear factory. The operating assets are charged. What they still own, often in their own name or an SPV, is a Good Class Bungalow, a prime condo, a conservation shophouse, or a portfolio of listed shares.

That is the collateral we most often take. [GCB bridging loans](https://www.rikvincapital.com/sg/bridging-loans/gcb-bridging-loan) are a frequent path when the land is in a named district and the exit is a sale or a bank take-out. Related: [the Binjai Park GCB we bridged](https://www.rikvincapital.com/sg/case-study/gcb-bridge-loan-binjai-park) was an acquisition, not a TBLP refinance, but the security and the timeline are the same idea.

Luxury cars can also be charged, and we lend against them. Be precise with your broker about which asset can actually be charged.

Indicative terms: up to 70% LTV on eligible Singapore property, tenor 3 to 24 months, term sheets typically within 24 hours, drawdown typically about two weeks. Staged drawdowns are available where the exit calls for them. Subject to valuation and due diligence. [See how the process runs](https://www.rikvincapital.com/sg/process) from enquiry to drawdown.

![Singapore shophouse facade on a conserved shophouse street](https://media.rikvincapital.com/rikvin-media/unsplash-1790215474094-3110.jpg)
*Residual equity in a shophouse or prime home is the security that can actually be charged.*

## When a private bridge is the wrong tool

Use a bridge when the TBLP balance is finite, the asset is chargeable, and the exit is dated. The main risk is the obvious one: the tenor is short. If the exit slips, you are refinancing again, or selling under time pressure, at a higher cost than a bank term loan.

Do not use it as a substitute working-capital programme. Do not use it if the company is already in default with no plan.

If residual equity in the home or the holdco's shares cannot support the balance, this is the wrong conversation. A cheaper, longer bank facility is better whenever you can actually obtain one. Browse [Singapore bridging loan products](https://www.rikvincapital.com/sg/bridging-loans) only when the security and the exit are real.

## Frequently asked questions

### Is a temporary bridging loan the same as TBLP?

No. TBLP was Enterprise Singapore's unsecured SME programme, originated by banks, and it is now closed to new applications. A private temporary bridging loan is a short, asset-backed facility we underwrite on a first charge against property, luxury cars or certain pledged shares, with a planned exit. Terms are indicative and subject to valuation and due diligence. We lend only to accredited investors and corporates.

### Can I refinance a matured TBLP balance against my GCB or condo?

Yes, if the property can take a first charge and the LTV still works. We look at LTV up to 70% on eligible Singapore property rather than your salary, and TDSR does not set our credit test. Drawdown is typically about two weeks. A term sheet can usually be issued within 24 hours. Terms remain indicative.

### What if my operating company still needs working capital?

Then you need a working-capital product, not a 3 to 24 month bridge against a house. A private bridge is for a dated repayment of a specific balance, with an exit. Mixing the two leaves you refinancing personal property to fund an open-ended business cash gap. That is a poor fit and we will say so.

A matured TBLP line is a repayment event; treat it as one, and only then does a short, asset-backed facility earn its keep.

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