KUALA LUMPUR – SME Bank has allocated RM200 million under the Pemerkasa Matching Grant Financing to assist entrepreneurs from the 3D sector (dirty, dangerous, and difficult) who are still affected by the Covid-19 pandemic, especially in manufacturing, services, agriculture, and construction businesses.
The move by the bank follows the announcement of Pemerkasa by Prime Minister Tan Sri Muhyiddin Yassin.
In a statement, SME Bank group president/chief executive officer Aria Putera Ismail said the 3D sector deserves attention and assistance from financial institutions as their business operations were badly disrupted due to the movement control orders since last year.
“The Pemerkasa Matching Grant Financing will enable entrepreneurs to obtain financing up to RM1 million for a maximum period of 10 years with a profit rate of 4%-5% per annum.
“For each financing approved, the Finance Ministry will provide a matching grant for a maximum of up to 20% of the approved amount. This will enable SME entrepreneurs to purchase machinery, increase technology adoption in the business, and reduce the dependency on foreign labour,” said Aria.
He also said customers would have the opportunity to participate in entrepreneurship coaching and capacity building programmes for free conducted by the Centre for Entrepreneur Development and Research Sdn Bhd, a subsidiary of SME Bank.
The financing facility is also eligible for guarantee of up to 80% from Syarikat Jaminan Pembiayaan Perniagaan
To know more about SME Bank’s Pemerkasa Matching Grant Financing, customers and entrepreneurs may contact the bank's customer service centre at 03-26037700, the respective relationship managers, or visit the official website at www.smebank.com.my. – Bernama, June 28, 2021
