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Is RIABU’s Pledge2Pay the solution to the SME cash crunch in Singapore?

May 19, 2020

Simon J Littlewood asks RIABU’s Mark Laudi about the Pledge2Pay initiative and learns that many SMEs cannot borrow and have less than 2 months cash in hand.

With the COVID-19 circuit breaker going into its second month RIABU has launched Pledge2Pay to encourage large companies with sound balance sheets to pay SMEs in 30 days.

SMEs employ nearly 70% of Singaporeans. Many may become insolvent without further help and if they do Singapore’s unemployment is likely to soar.

What can you do to support Pledge2Pay, and why is it so important?