SME Bank Extends Financial Assistance to Flood-Affected Customers
SME Bank is extending financial assistance to flood-affected customers in several cities in Malaysia, as listed in the disaster area according to the National Disaster Management Agency (NADMA).
SME Bank Group President / Chief Executive Officer, Datuk Wira (Dr.) Aria Putera Ismail said: “We understand the plight of the businesses affected by the current flooding situation. We are ready to offer financial assistance to our customers and will also consider utilising the Disaster Relief Facility by Bank Negara Malaysia, which offers maximum financing amount of RM700,000.00 for SMEs and RM150,000.00 for micro enterprises with financing period up to 7 years at a rate of 3.5% per annum, including guarantee fee.”
Datuk Wira Aria added, “SME Bank has been reaching out to our customers since the pandemic and flooding incidents in the previous year. This was done through SME Recovery Plus, a special targeted assistance for MSMEs in the tourism, passenger transport, and education sectors. 250 customers with a total outstanding value of RM938.79 million have benefited from this assistance.”
This initiative is driven by the aspiration of the Minister of Entrepreneur and Cooperatives Development (MECD), YB Datuk Ewon Benedick, to ensure that all MECD agencies will extend their support to MSMEs to support business continuity, especially during this calamity. This concerted effort will allow MSMEs to continue to flourish and produce spillover effects on the socio-economic development of Malaysians, which aligns with MECD’s 2023 Strategic Plan to be Progressive, Transformative and Responsive.
SME Bank urges all of its customers who require assistance due to the flood to come forward and contact their respective Relationship Managers as soon as possible. For more information, other entrepreneurs who are also affected by the flood disaster can call the Bank's Customer Contact Center at 03-26037700 or visit the Bank’s official website www.smebank.com.my and social media for more information.
