SME Bank To Assist 3000 SMEs Post Moratorium

SME Bank has taken a wholesome approach in assisting all its customers when the moratorium period ends on 30 September 2020 by introducing the SME Relief Program (SRP). The program targets businesses in the tourism, transportation, education and health sectors that are directly and indirectly affected by the COVID-19 pandemic.

YB Dato Sri Dr. Haji Wan Junaidi Tuanku Jaafar, Minister of Entrepreneur Development and Cooperatives (MEDAC) said, “This SRP program will benefit 3,000 SME Bank’s customers with total financing worth more than RM1.8 billion. At the same time, other SME entrepreneurs are also encouraged to discuss with their respective financing providers for post-moratorium assistance. ”

YB Dato Sri Dr. Haji Wan Junaidi added, “Since the beginning of this pandemic, SME Bank has proactively played its role in assisting the affected SME sector by offering the deferment of financing for its customers as well as rental payments for tenants at SME Bank’s Entrepreneur Premises Complex. SME Bank is also mandated to distribute two funds through PENJANA, namely the SME Go Scheme and SME Technology Transformation Fund (STTF), in addition to various other funds announced by the Government through PRIHATIN such as the Special Relief Fund (SRF), AgroFood, Automation and Digitalisation Facility (ADF) and All Economic Sectors Facility (AES).”

Aria Putera Ismail, Group President / Chief Executive Officer SME Bank said, “Looking at the impact of the Covid-19 pandemic and in line with SME Bank's efforts to ensure the sustainability of SME entrepreneurs, all existing SME Bank’s customers are eligible to apply for the assistance offered and are subject to the terms and conditions of the program.

Two forms of assistance are offered, namely the Indulgence Program which refers to the deferment of payment for the principal and financing profit rate and the second program is the payment for the profit rate only."

Aria added, “For eligible customers, an extension from the initial financing period may also be considered. This will allow them to manage their cash flow more efficiently and improve their business plans during the recovery period from COVID-19.”

SME Bank’s customers who wish to obtain more information on the SME Relief Program may contact the Bank’s Customer Service Center at 03 - 26037700 or contact their branch Relationship Manager for more information.