Bank Negara Malaysia is set to provide an additional allocation of RM700 million for the SME Automation and Digitalisation Facility (ADF), bringing the facility’s total size to RM1 billion.
The ADF, which was established in March 2020, aims to encourage SMEs across sectors to automate processes and digitalise operations to increase productivity and efficiency.
The ADF is open to all Malaysian SMEs, with a maximum financing amount of up to RM3 million per SME and financing tenure of up to 10 years. The financing rate is up to four percent per annum, inclusive of guarantee fee. Guarantee coverage is provided by Syarikat Jaminan Pembiayaan Perniagaan (SJPP). The facility will be available until Dec 31 or full utilisation, whichever is earlier. Features of the ADF are provided in Appendix 1.
SMEs may also avail themselves of other financing facilities under BNM’s Fund for SMEs. Interested SMEs may refer to bnm.gov.my/covid19/ or contact us at bnm.my/LINK if they have any queries with respect to the Bank’s financing facilities.