KUALA LUMPUR, Nov 5 — Bank Simpanan Nasional (BSN) will continue to help selected customers in financial distress from all income groups as well as micro, small and medium enterprises (MSMEs) through several special financing schemes under Budget 2022.
Chief executive Jay Khairil said under Budget 2022, BSN will play a role by offering micro credit financing under the Semarak Malaysian Family SME Scheme with an RM800 million fund.
“Micro enterprises can borrow up to RM75 thousand at zero per cent for the first six months, along with the moratorium facility for six months, and a loan period of five years,” he said in a statement today.
The scheme is also available to youths who want to go into business, as well as operators of sports facilities.
The bank will also continue to manage the SME Digitalisation Grant Scheme whose allocation has been increased to RM200 million, with RM50 million specially allocated for micro Bumiputera enterprises in rural areas.
“BSN will participate in business financing worth RM100 million through equity and quasi-equity investment. This amount is part of the RM600 million provided under a business loan fund led by SME Bank with the cooperation of BSN and TERAJU,” he added.
Apart from that, customers can also benefit from the targeted aid and recovery facility (TRRF) which is available from Dec 31 2021 to SMEs in the services sector which have been adversely impacted by COVID-19 since June of 2020, except for tourism and related subsectors.
Loans of up to RM50,000 for working capital and asset purchase are also available for micro enterprises which have been operating for at least six months.
— BERNAMA
