1. What is the objective of the grant?
- To improve the accessibility of financing for Malaysian Small and Medium Enterprises (SMEs) in all economic sectors, particularly under-served SMEs. Additionally, to support growth and increase access of collateral-free financing for micro enterprises or entrepreneurs, including the self-employed and gig workers on digital platforms.
2. Who can apply for this grant?
- Micro enterprises that meet criteria that has been approved by the National Entrepreneur and SME Development Council (NESDC), or Malaysian micro entrepreneurs including self-employed individuals, gig workers on digital platforms and participants of the iTEKAD programme.
3. How to apply for this fund?
- Please apply directly to participating financial institutions (PFIs) under the Skim Pembiayaan Mikro (www.bnm.gov.my/index.php?rp=18062020_pmikro+comparativetable).
- Approval will be subject to the credit assessment of PFIs.
4. How much funds can one apply for?
- Up to RM50,000 per micro enterprise or entrepreneur.
5. How long is the validity of this fund?
- No more than 5 years from the first draw-down date.
6. What’s the purpose of the financing?
- Working capital or Capital Expenditure
- Note: Financing is specifically for business purposes, thus it cannot be used for refinancing of existing credit or financing facilities.
7. Participating Financial Institutions for MEF:
- AmBank (M) Berhad
- Alliance Bank Malaysia Berhad
- Bank Islam Malaysia Berhad
- Bank Kerjasama Rakyat Malaysia Berhad (Bank Rakyat)
- Bank MuamalatMalaysia Berhad
- Bank Pertanian Malaysia Berhad (Agrobank)
- Bank Simpanan Nasional
- CIMB Bank Berhad
- Malayan Banking Berhad
- Public Bank Berhad
- United Overseas Bank (Malaysia) Berhad
Source from Bank Negara Malaysia Official Website (https://www.bnm.gov.my/o/covid-19/Features%20of%20Micro%20Enterprises%20Facility%20MEF.pdf)
For more information, please click: Features of Micro Enterprises Facility MEF and Participating Financial Institutions for MEF
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