KUALA LUMPUR (Dec 4): SME Development Bank Malaysia Berhad (SME Bank) has reaffirmed its commitment to supporting entrepreneurs and businesses affected by the recent floods across the country.
Recognising the disruption caused to livelihoods and operations, the bank has announced a range of tailored financing solutions and relief measures to assist its customers during this challenging period.
In this regard, SME Bank acting group president and chief executive officer Datuk Dr Mohammad Hardee Ibrahim underscored the bank’s dedication to aiding customers with existing financing facilities.
“We understand the struggles faced by our customers due to the recent floods and are ready to help them navigate these challenges. Affected customers are encouraged to contact us to explore financing assistance options and other relief measures,” he said.
To further support micro, small, and medium enterprises, SME Bank is offering additional financing through Bank Negara Malaysia’s Disaster Relief Facility (DRF).
The DRF provides funding of up to RM700,000 for SMEs and RM150,000 for micro enterprises at a competitive financing rate of 3.5 per cent per annum, inclusive of guarantee fees.
The facility offers a financing tenure of up to seven years, providing much-needed breathing space for businesses to recover.
Additionally, Hardee highlighted SME Bank’s track record in supporting customers during crises, including the Covid-19 pandemic and previous natural disasters.
“From 2022 to 2023, our assistance programmes benefitted approximately 3,855 customers, involving a total outstanding value of RM5.82 billion,” he shared.
Through these initiatives, SME Bank continues to demonstrate its commitment to fostering resilience and recovery among Malaysian businesses, ensuring they remain strong drivers of the national economy despite ongoing challenges.
The bank is urging customers impacted by the floods to contact their Relationship Managers or reach out via the Customer Contact Centre at 03-26037700.
For more information, customers can also visit SME Bank’s official website or its social media platforms.
Source: https://www.theborneopost.com/2024/12/04/sme-bank-ready-to-assist-flood-affected-entrepreneurs-businesses/