BNM’s Fund for SMEs | Financing for Small and Medium Enterprises

BNM’s Fund for SMEs | Financing for Small and Medium Enterprises
BNM's Fund for SMEs
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Measures to Address COVID-19 Impact

Recognising the environment that remains challenging for some borrowers, Bank Negara Malaysia and the Malaysian financial industry are committed to assist individuals and viable businesses adversely affected by the COVID-19 pandemic, to support economic recovery and safeguard the livelihood of Malaysians.

BNM’s Fund for SMEs

As announced in Budget 2021, Bank Negara Malaysia will establish additional or enhance existing financing facilities to provide relief for, and to support the recovery of SMEs.

Targeted Relief and Recovery Facility (TRRF)

The RM2 billion facility is for eligible SMEs whose revenues have been affected by the recent enhanced and conditional movement control orders.

In addition, SMEs in targeted vulnerable sectors, namely personal services, food and beverage services, human health and social work, arts, entertainment and recreation subsectors, will also be eligible for the TRRF.

Offered at a concessionary rate of up to 3.5%, TRRF will be available through participating financial institutions, with guarantee coverage by Syarikat Jaminan Pembiayaan Perniagaan (SJPP) and Credit Guarantee Corporation (CGC). The facility will be open for applications from 1 December 2020.

High Tech Facility (HTF)

The RM500 million facility is to support SMEs in high-tech sectors, for example fertilisers and synthetic rubber, basic chemicals, refined petroleum products, biotech pharmaceuticals, as well as air and spacecraft sub-sectors. As the high-tech sectors and innovation-driven firms are instrumental to realising new growth opportunities, the HTF aims to sustain Malaysia’s competitive positioning in global value chains and safeguard high-skilled jobs.

Further details on the HTF will be announced on 1 December 2020.

Micro Enterprises Facility (MEF)

This facility will be increased from RM300 million to RM410 million to support microenterprises including gig workers on digital platforms and the self-employed. The facility is for working capital and capital expenditure.

Source: Bank Negara Malaysia

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