SME Funds Made Easy
Qualifies To Apply
Relief Measures for SMEs Affected by COVID-19
Since the commencement of the Movement Control Order in March 2020, the Government has proactively introduced several measures under the PRIHATIN Economic Stimulus Packages, National Economic Recovery Plan (PENJANA), Pakej Bantuan Perlindungan Ekonomi & Rakyat Malaysia (PERMAI), Program Strategik Memperkasa Rakyat & Ekonomi (PEMERKASA), Program Strategik Memperkasa Rakyat & Ekonomi Tambahan (PEMERKASA PLUS) and Pakej Perlindungan Rakyat & Pemulihan Ekonomi (PEMULIH) which are aimed at cushioning the impact of COVID-19 and reinvigorating the country’s economic growth. Focus has also been given to assist SMEs who have been adversely affected and to offer financial aid and other forms of assistance to sustain their business operations while encouraging domestic investments and safeguarding jobs. Among measures that have been introduced include:
RM8 billion allocation for affected SMEs in the services sector with interest rate of up to 3.5% p.a
Approval process for existing loan in Tourism Infrastructure Fund worth RM1.5 billion will be expedited.
RM700 million with interest rate up to 4% for purchase of equipment, machinery, computer hardware and software, IT solutions and services, technology support services and other intangible assets to enhance productivity and efficiency
Automation, Digitalisation and Utilisation of Green Technology Scheme RM200 million fund with reduction of loan interest rate from 5% to 3% for a period of 12 months.
SME Go Scheme RM1.6 bilion to assist contractors who have been awarded a contract from Federal or State Governments, Ministries, Departments or Agencies.
RM1.2 billion to support digitalisation, of which RM600 million is from the Government and the remaining RM600 million is from international and domestic investors
RM1 billion to support SMEs in the tourism sectors by preserving their capacity and assisting them to undertake the necessary investments to adjust and remain viable post-COVID-19 Up to RM300,000 per SME with financing rate up to 3.5% p.a. (inclusive of guarantee fee)
RM500 million funds for Malaysian microenterprises or Malaysian micro entrepreneurs including self-employed individuals, gig workers on digital platforms and participants of the iTEKAD programme aimed to increase access to collateral-free micro financing for micro enterprises Maximum financing amount of RM50,000 per microenterprise or micro entrepreneur with financing rate to be determined by participating financial institutions (PFIs)
Allocated RM20 million financial assistance under Covid-19 Relief Financing (CRF-i) Program (“RECURVE”). This program is designed to assist our existing customers to sustain their business after impact from pandemic Covid-19. The financing covers the following purpose:
Rental & Utilities expenses
Salary expenses
Inventory
Digital Marketing Financing terms are as follows:-
i. Financing amount : RM10,000 – RM500,000
ii. Profit : 3.5% – 4.0%
iii. Tenure : up to 5 years
RM50 million for digital marketing, capped at RM5,000 per event
Bus and Taxi Hire Purchase Rehabilitation Guarantee Scheme under Syarikat Jaminan Pembiayaan Perniagaan (SJPP)
RM1 billion for guarantee facility with:
12-month moratorium and extension of loan period up to 36 months for bus and taxi operators.
RM1 billion to support SMEs in the tourism sectors by preserving their capacity and assisting them to undertake the necessary investments to adjust and remain viable post-COVID-19 Up to RM300,000 per SME with financing rate up to 3.5% p.a. (inclusive of guarantee fee)