BANK Simpanan Nasional (BSN) is offering micro credit financing under the Semarak Malaysian Family SME Scheme worth RM800 million to further assist micro, small and medium enterprises (MSMEs) impacted by the pandemic.
“MSMEs can apply for a loan of up to RM75,000 at a rate of 0% for the first six months with a moratorium facility of up to six months with the loan period up to five years.
“The scheme is also offered to youths who want to venture into entrepreneurship as well as sports facility operators who want to obtain funding to alleviate their financial needs,” BSN CEO Jay Khairil said in a recent statement.
BSN will also continue to be the coordinator for the SME Digitisation Grant Scheme which has now increased its funding to RM200 million with RM50 million ear-marked for Bumiputera MSMEs in rural areas to further enhance digital adoption among MSMEs.
Furthermore, the banking entity will also participate in offering business financing with a total fund of RM100 million through equity and quasi-equity investments.
“This amount is part of the RM600 million provided for business financing funds led by SME Bank in collaboration with BSN and Bumiputera Agenda Steering Unit.
“MSMEs can also obtain the Targeted Assistance and Rehabilitation Facility, which is currently open until Dec 31, 2021, and it is applicable to the services sector affected by Covid-19 from June 2020 excluding tourism and related sub-sectors.
“Microloan facilities for working capital and asset purchase are provided up to RM50,000 in addition to the MSMEs that have been in operation for at least six months,” Jay Khairil added.
“In line with government initiatives, BSN will also continue to expand its efforts to assist targeted customers from all income groups and MSMEs through the handling of several special financing allocated under Budget 2022,” he said further.
Source : https://themalaysianreserve.com/2021/11/08/bsn-expands-effort-to-assist-selected-customers-msmes/