Government approves RM 1.366 billion loans under PENJANA SME initiative

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KUALA LUMPUR: The government approved a total of 7,266 RM 1.366 billion loan applications under the Small and Medium Enterprises (SMEs) initiative of the National Economic Regeneration Plan (PENJANA) as of March 19, 2021.

Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz said the government has allocated Ringgit 2 billion under the program, which prioritizes SMEs that have never received a loan from a bank before.

As of March 26, the Bumiputera Relief Financing (BRF) fund introduced by Perbadanan Usahawan Nasional Bhd (PUNB) has been channeled to 749 SMEs involving a total of 226.8 million ringgit against 675 SMEs with a total of 195.2 million ringgit the previous one the week.

For the low rate loan fund for SMEs managed by Bank Negara Malaysia (BNM), a total of Ringgit 11.82 billion has been approved and will benefit 24,921 SMEs.

“This amount includes funds from the Special Relief Mechanism (SRF), the Automation and Digitization Mechanism (ADF), the All Economic Sectors Mechanism (AES) and the Agro-Food Mechanism (AF).

“Even though the SRF fund has been fully distributed, SMEs can still apply for financing programs available through BNM funds such as ADF, AES and AF,” he said during the presentation of The 48th National Interagency Economic Stimulus Implementation and Coordination Unit (LAKSANA) is reporting today.

He explained that SMEs can also get other funding through the imsme.com.my platform which can help match the required funding with various SME fund providers.

Meanwhile, as of March 26, PENJANA’s tourism sector funding has approved 308 applications out of a total of 626 applications, with total funding of RM 61.9 million.

He said that for technical and digital consumption for SMEs and mid-level enterprises (MTCs), a total of RM 55.5 million was channeled to 12,476 enterprises in the form of grants and loans for subscriptions to scanning services until March 26.

As for the CENDANA initiative, a total of 2.43 million ringgit was distributed to 441 beneficiaries comprising artists, collectives and organizations actively involved in the Malaysian arts and culture sector.

“Creative industry activators are advised to use this opportunity offered to produce their work. All industry players involved can seek help from related agencies through www.mycreative.com.my and www. cendana.com.my, ”he said.

Tengku Zafrul also urged small traders and micro-entrepreneurs to apply for the Geran Khas Prihatin (GKP) 3.0, where applications will be open until April 15, 2021.

On March 17, Prime Minister Tan Sri Muhyiddin Yassin announced GKP 3.0 as part of the Strategic Program for the Empowerment of People and the Economy (PEMERKASA) initiative where each eligible microenterprise and SME will receive a One-time aid of RM 1,000. – Bernama

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