Which COVID-19 Relief Schemes Are Still Available in 2022?

Suffice it to say, the COVID-19 pandemic has financially affected many of us. Thankfully, COVID-19 relief schemes emerged, but which of these are still available? Are you qualified for one? Let’s find out.

With protective protocol measures easing up, some COVID-19 relief schemes have drawn to an end. However, there are three schemes still available this year – the COVID-19 Recovery Grant, The Courage Fund (for lower income households affected by COVID-19), and the Temporary Bridging Loan Programme. 

Let’s see how you can avail these relief schemes. 

COVID-19 Recovery Grant 

This grant provides financial support to middle and lower income households, where earning members have suffered involuntary job loss, no-pay leave (NPL), or any loss of income due to the pandemic. 

Applications for this grant are open only until 31 December 2022. Application portals are open 24/7. It will take about two weeks to get approved or denied.

Eligibility

• Should be at least 21 years of age and a Singapore citizen or Permanent Resident 
• Should not own more than one residential property 
• A gross household income (prior to job loss, NPL, or income loss) of S$7,800 or below.
• Worked for six months (cumulatively) between January 2020 and December 2021
• Job should be affected by the impact of COVID-19 on the economy:
  - Involuntarily unemployed
  - Involuntarily on NPL for at least three consecutive months 
  - Salary loss for at least three consecutive months

Relief provided

• S$700 per month for three months:
  - Job loss due to retrenchment, termination
  - Involuntary NPL for three consecutive months 

• S$500 per month for three months:
  - Loss of at least 50% of salary on average for at least three months 
  - Self-employed persons facing a loss of at least 50% of their Net Trade
  Income for at least three months.

This assistance amount will be directly credited to your account if you have been approved for the COVID-19 Recovery Grant.

What to do

You need to show proof that you’ve been actively searching for jobs or attending training programmes. You could show proof for any one of the following: 

• At least two applications via MyCareersFuture or Career Conversion Programme. Both of these are government-linked portals.
• Attend at least two job interviews
• Register with WSG’s Careers Connect or NTUC-e2i Centres for career coaching
• Applied for at least one training programme on the MySkillsFuture portal

You must complete any of these at least two months before applying for the grant. Applications close on 31 December 2022. Visit the government website to apply.

The Courage Fund (for lower income households affected by COVID-19) 

This fund emerged after the SARS outbreak in Singapore. It now offers COVID-19 relief schemes for lower-income households affected by the pandemic.

The Courage Fund is still accepting applications until 24 November 2022 at 11:59pm. 

Eligibility

Households must meet the criteria below to receive relief via The Courage Fund: 

• At least one member of the household should be a Singapore Citizen or Permanent Resident 
• At least one member tested positive for COVID-19 before 24 May 2022 and was given an Isolation Order/Quarantine Order/Stay-At-Home Notice/mandatory Leave Of Absence, or was hospitalised. 
• The gross monthly income of the household should have been S$6,200 or less during the period when a household member was affected
• As a result of the low monthly income mentioned above, the household should have suffered a complete or partial loss (at least 10%) of the total household income

Relief provided

 These are the relief you and your household can receive from The Courage Fund: 

• S$1,000 if the household income during the affected months is less than or equal to S$650 
• S$750 if the household income during the affected months is more than S$650 but less than or equal to S$1,350 
• S$500 if the household income during the affected months is more than S$1,350

What to do

• Collect documents to prove that either you or a member of your household was placed on any of the aforementioned isolation orders after testing positive for COVID-19. Note that the date of testing positive should be before 24 May 2022
• Collect documents to prove the loss of income as a result of testing positive for COVID-19. This could be payslips before and after isolation or other issues orders.
• Get a copy of the first page of your bank statement or bank book
• Fill in this application form.

Temporary Bridging Loan Programme 

The Temporary Bridging Loan Programme or TBLP is a government-backed COVID-19 relief scheme for businesses. It offers up to S$1 million per borrower and can be availed until 30 September 2022. 

Maximum loan amount

Since 1 April 2022, the maximum loan amount for the TBLP has dropped to S$1 million per borrower. 

Business owners borrowing for a group are subject to an overall borrower group limit of S$20 million. There is also an additional overall loan limit of S$50 million per borrower group across facilities. 

Eligibility

• Business entities registered and physically located in Singapore
• At least 30% of the equity held directly or indirectly by one or more Singaporean citizens or Singapore Permanent Residents

Repayment

The maximum repayment period is five years, in which the borrower or borrower group has to repay 100% of the loan amount. 

Interest: Capped at 5% p.a. from 1 April to 30 September 2022.

How to apply: 

If you are interested in availing TBLP, you may approach any of the Participating Financial Institutions to apply for the loan. Remember to fill up and submit the online application form along with the supporting documents. 

You may find the list on the Enterprise Singapore website. 

Read these next: 
How Will (The Extended) Covid-19 Support Grant Help You Financially?
5 Ways To Cope With Financial Setbacks Hitting Singaporeans Hard Amid Covid-19
11 Ways To Prepare Yourself For A Recession During Covid-19
3 Reasons Why Cash Is King In Uncertain Times Like Covid-19