SME Corp. Malaysia has distributed loans under the SMEF 2.0 Emergency Fund (SMEEF 2.0) to help Small and Medium Enterprises (SMEs) affected by natural disasters. all over the country. This fund provides interest-free working capital loan financing and a one-year moratorium to all SMEs.
In the SME Emergency Fund (SMEEF) 2.0 Handover Ceremony which was held on July 13, YB Tan Sri Noh Omar, Minister of KUSKOP informed that various assistance is provided by KUSKOP and the Agency to entrepreneurs who have been struck by misfortune.
He commented that the SMEEF Program under SME Corp. Malaysia and MIDF as implementing agencies are specifically to help small and medium enterprises, while the Informal and Micro Financing Scheme (SPIM) by TEKUN Nasional is to help informal and micro-entrepreneurs.
He added that for SPIM informal and micro-entrepreneurs can apply for a grant worth RM3,000 per entrepreneur which does not need to be repaid.
In addition, in the same Council, YBrs. Rizal bin Nainy, CEO of SME Corp. Malaysia stated that until July 12, this SMEEF 2.0 program has received a total of 1,131 applications from all over the country amounting to RM109,324,699.00 which has exceeded the fund allocation of RM100 million.
An emergency fund for flood victims of small and medium-sized companies is given an interest-free loan (0%) between RM50,000.00 to RM100,000.00 with a 12-month moratorium, which can be used to help SMEs recover and restore the business of Entrepreneur Families that were affected by this flood disaster as soon as possible,” added Rizal.
Rizal informed that until now, almost RM97 million has been approved and distributed to SMEs affected by floods throughout the country. Of this total, 83% are SMEs affected in the state of Selangor, followed by Pahang with 7.6% and Kelantan with 3.5%.
