For individuals and small and medium enterprises (SMEs), the deferment in conventional loans or Islamic financing repayment obligations (except credit cards) are automatically effected by banks and development financial institutions (DFIs) if they meet these criteria:
loan/financing are not in arrears exceeding 90 days as at 1 April 2020; and
is denominated in Malaysian Ringgit.
The package also applies to newly approved/ disbursed loans (all loans outstanding as at 1 April) Besides small businesses.
The loan deferment offering is also available for those working in the tourism industry.
Moratorium on Loan/Financing Repayment
Special Relief Facility
RM2 billion worth in loans
For small and medium-sized enterprises (SMEs).
To alleviate short-term cash flow problems faced by SMEs adversely affected by the COVID-19 outbreak
The funds will be distributed through commercial banks at an interest rate capped at 3.75 percent per annum.
Each SME will be eligible to receive up to 1 million ringgit with a tenure of 5.5 years.
This includes a 6-months payment moratorium.
The government will provide banks with an 80 percent guarantee on the loans.
Available from 6 March 2020 to 31 December 2020
RM1 billion in loans.
For Malaysian SMEs
To increase food production for Malaysia and for export purposes
Interest rate capped at 3.75% per annum (inclusive of any guarantee fee)
Each eligible SME is able to receive RM5 million with a tenure of 8 years maximum.
Available from 6 march 2020 onwards
The government will also allocate RM40 million to help SMEs in the agriculture sector. This fund will be used to enable SMEs to sell their products on e-commerce platforms and therefore to a larger pool of consumers.
Up to 5 years and 6 months (including a moratorium period of 6 months on both principal and profit)
BizWanita-i is a direct financing scheme to cater specifically for women entrepreneurs that business is less than 4 years in operations utilising the BNM’s Fund for SMEs – All Economic Sectors (AES) Facility.
The funds are designed to facilitate greater access to financing for viable SMEs.
BizJamin-i SRF Scheme
BizJamin-i SRF is a guarantee scheme to alleviate short-term cash flow problems faced by SMEs affected by the COVID-19 outbreak
Note: Financing should not be used for refinancing of existing financing facilities
Up to RM1.0 million per SME
Up to 3.5% per annum (inclusive of any guarantee fee)
Maximum 5.5 years, including 6 months moratorium on principal and profit
80% guarantee on financing amount by Credit Guarantee Corporation Malaysia Berhad (CGC)
0.50% per annum
No collateral is required
Licensed Islamic banks and Prescribed Development Financial Institutions
6 March 2020 until 31 December 2020 or upon exhaustion of allocation, whichever is earlier.
Special Relief Facility
Special Relief Facility-i (SRF) is a financing facility offered to Small Medium Enterprise (SME) whose businesses are impacted by COVID -19 outbreak.
Micro enterprises whose businesses are impacted by the COVID-19 outbreak.
Malaysian owned business.
Registered with Suruhanjaya Syarikat Malaysia (SSM) or Local Authority (LA).
Purpose of Financing: Working Capital(Note: Financing should not be used for refinancing of existing facilities.)
Financing Amount: Up to RM50,000.
Financing Tenure: Up to 5.5 years including a moratorium period of 6 months on monthly instalment.
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In light of the COVID-19 Pandemic, getting through these uncertain times is a major worry for startups and access to investor is the biggest challenge that they will have to contend with. In response to this, KK Fund, the Singapore-headquartered venture capital fund is partnering with MDEC & BEAMSTART to launch and power the "Meet your Match Malaysia" initiative where Malaysian-based startups will be matched with investors during this COVID-19 pandemic.
This initiative will provide a much-needed avenue of funding for many Malaysian-based startups and it has already signed on more than 70 investors to participate and support the Malaysian startup ecosystem.
Apply before 21 May 2020
Technology Start-Ups Funding Relief Facility
MDV with support from Ministry of Science Technology & Innovation and Ministry of Finance is offering up to RM100 million allocation for the Technology Start-ups Funding Relief Facility (TSFRF).
Purpose of Financing: Working Capital & Business Expansion
Facility Type: Cashline with semi-annual roll-over
Financing Rate: Up to 3.50% p.a.
Financing Tenure: Up to five (5) years subject to annual review
Financing Limit: Up to RM2.5million.
Warrant Cover: Up to 10% of financing limit at last funding round equity price
Security*: Personal guarantee and debenture
Fees & Cost*: No additional fees and costs. Legal fees can be drawn down from the facility