Micro-enterprises can start applying for the Bank Simpanan Nasional (BSN) Micro/i SemarakNiaga Financing Scheme, which has received an allocation of RM800 million under Budget 2022, starting today.
They can apply either online through the BSN website or by visiting the nearest BSN branch or micro financing centre, the bank said in a statement today, according to Bernama.
This micro-credit financing scheme, which is a continuation of previous facilities that have seen BSN assisting more than 50,000 customers via RM1.4 billion in financing, provides financing of up RM75,000 at a profit rate of 4.0 percent per annum (flat rate) for a financing tenure of up to 5.5 years, including moratorium for the first six months of monthly installment.
The bank said seven options are offered under this scheme, which is part of the Semarak Niaga Keluarga Malaysia Programme (SemarakNiaga).
They include BSN Micro/i Semarak Mula, BSN Micro/i Semarak PEDi, BSN Micro/i Semarak Tani, BSN Micro/i Semarak Sukan, BSN Micro/i Semarak Nita, BSN Micro/i Semarak Belia, and BSN Micro/i Semarak.
The business must have been in operation for at least six months to be eligible to apply for the facilities for the purpose of working capital or business asset purchase, except for the BSN Micro/i Semarak Mula facility which only requires the business to be in operation for a minimum of three months.
The BSN Micro/i SemarakNiaga Financing Scheme is aimed at providing continuous assistance to Malaysians, especially the micro, small and medium enterprises, to recover from the effects of the COVID-19 pandemic.
