SME Bank Offers Special Financing Up To RM1.0 Million to SMEs Affected by the COVID-19

SME Bank, an agency under the Ministry of Entrepreneur Development and Cooperatives (MEDAC), is now offering a special financing maximum up to RM1.0 million to SMEs affected by the COVID-19 outbreak through the Special Relief Facility (SRF) Fund provided by Bank Negara Malaysia (BNM).

YB Dato Sri Dr. Haji Wan Junaidi Tuanku Jaafar, Ministry of Entrepreneur Development and Cooperatives said, “The financing offered is in the form of working capital requirements and is available from 6 March 2020 to 31 December 2020. The financing period is 5 years with competitive profit rate of 3.75% per annum and without collaterals.”

Aria Putera Ismail, Group President/Chief Executive Officer in the same statement said, “In addition to the SRF financing facility, SME Bank, since early February 2020 has also extended a temporary financial relief for its eligible customers on their financial commitments with the Bank. The temporary relief will enable our customers to better manage their cashflow thus ensuring the sustainability of their businesses. A total of 95 SMEs have applied and currently being evaluated since it was introduced on 6 Feb 2020.”

The affected SME companies may contact the Bank's Customer Service Center at 03-26037700, browse the Bank’s website www.smebank.com.my or visit the nearest branch for more information on this SRF financing and the temporary relief assistance.