B1. BNM Fund for SMEs 2021-07-02
1. BNM's Fund for SMEs
Bank Negara Malaysia has established additional or enhanced existing financing facilities to provide relief for, and to support the recovery of SMEs. The Bank is committed to further increase the allocation under the BNM's Fund for SMEs by RM2 billion, bringing the total available funds as at end-June to RM8.6 billion.
Select a fund according to your business needs.
Targeted Relief and Recovery Facility (TRRF)
The RM4 billion facility is upsized by RM2 billion to RM6 billion for affected SMEs in the services sector. Under the enhanced TRRF, SMEs can now utilise up to 30% of the financing approved to repay existing business financing (i.e. refinance).
Offered at a rate of up to 3.5%, TRRF will be available through participating financial institutions, with guarantee coverage by Credit Guarantee Corporation (CGC) or Syarikat Jaminan Pembiayaan Perniagaan (SJPP).
The facility is available until 31 December 2021 or full utilisation (whichever is earlier).
The RM1 billion facility is aimed at supporting high-tech and innovation-driven SMEs affected by COVID-19 to recover and revitalise the nation’s innovation capacity. Financing rate of up to 3.5% per annum is offered for financing without guarantee or up to 5% per annum inclusive of guarantee fee (with guarantee coverage by Credit Guarantee Corporation Malaysia Berhad (CGC).
The facility is available now until 31 December 2021 or full utilisation (whichever is earlier).
SME Automation and Digitalisation Facility (ADF)
The RM1 billion facility is aimed at incentivising SMEs to automate processes and digitalise operations to improve productivity and efficiency. The financing rate is up to 4% per annum, inclusive of guarantee fee. Guarantee coverage is provided by Syarikat Jaminan Pembiayaan Perniagaan (SJPP).
The facility will be available until 31 December 2021 or full utilisation, whichever is earlier.
All Economic Sectors (AES) Facility
This facility is to enhance access to financing for SMEs and to support growth.
Agrofood Facility (AF)
The Facility is to increase food production for Malaysia and for export purposes.
PENJANA Tourism Financing
PENJANA Tourism Financing is established for affected businesses in the tourism sector. The Government has created a dedicated fund for businesses in the tourism sector still affected by the pandemic under the PENJANA initiative.
Under the enhanced PTF, SMEs can now utilise up to 50% of the PTF financing amount obtained to refinance existing business financing. Recipients of Special Relief Facility (SRF/SRF-i) and/or PENJANA SME Financing (PSF/PSF-i) are now eligible for the PTF.
Applications for the facility is open until 31 December 2021 or full utilisation (whichever is earlier).
Other Relief Measures by the Government
In addition to the BNM's Funds, SMEs may also access financing facilities and other assistance measures introduced by the Government.
Details may be obtained at the SMEinfo portal.
B2. Loan Repayment Assistance
2. Loan Repayment Assistance
Banks are committed and ready to help individuals and SMEs, including microenterprises affected during the Movement Control Order with the latest Repayment Assistance packages.
To obtain this Repayment Assistance, borrowers can contact their respective banks and select their preferred loan repayment options.
Details are available on the Loan Repayment Assistance page.
B3. Other COVID CounterMeasures
3. Other Initiatives for Individuals and SMEs
Further details of these initiatives, where applicable, will be issued by the respective banking and insurance associations.
Expanded iTEKAD programme supports larger group of micro-entrepreneurs
The iTEKAD programme, first introduced on a pilot basis in Wilayah Persekutuan in May 2020, is now expanded to Selangor and Perlis and further enhanced by the participation of two additional Islamic banks. More...
Perlindungan Tenang: Protection for B40
Financial assistance will be provided by the Government for the B40 segment in the form of vouchers to purchase insurance and takaful coverage under the Perlindungan Tenang scheme from licensed insurers and takaful operators. More...
The financial assistance of RM50 voucher will be given to eligible B40 recipients to help them purchase Perlindungan Tenang products.
Perlindungan Tenang products are products approved by BNM to meet the needs of under-served market segments. The products must satisfy stringent criteria on affordability and customer value, with minimal exclusions to ease claims and ensure meaningful protections, particularly for lower income groups. The products include protection for life takaful and personal accident.
For more information on Perlindungan Tenang products and to obtain a list of participating providers, the public can refer to www.mycoverage.my/ perlindungan_tenang
Insurers & takaful operators to assist policyholders adversely affected by the COVID19 pandemic.
Measures include deferment on life insurance premiums/family takaful contributions, flexibilities to preserve/reinstate policies, flexibilities to meet general insurance premiums/takaful contributions, and expedited claims processing until 30 June 2021. More...
4. RA Videos
B5. Tips for SMEs
Tips for SMEs
These are collection of short videos excerpted from the webinars BNM has conducted