MALAYSIAN Industrial Development Finance Bhd (MIDF), in collaboration with SME Corporation Malaysia (SME Corp), has introduced the SME Emergency Fund 2.0 (SMEEF 2.0), an enhanced version of the SME Emergency Fund (SMEEF) that was first introduced in 2012.
“SMEEF 2.0, which was introduced on Feb 15, is a special financing assistance to help small and medium enterprises (SMEs) that have been severely affected by natural disasters including floods, storms, droughts, beach erosions and landslides,” MIDF said in a statement today.
The fund is provided by the Entrepreneur Development and Cooperatives Ministry (MEDAC) through SME Corp and managed by MIDF.
MIDF said under the SMEEF 2.0, which is applicable to all economic sectors affected by the recent floods, MIDF offers financing amount of up to RM100,000 for financing of assets such as machinery and equipment, refurbishment of business premises, as well as working capital.
“Other enhancements under the SMEEF 2.0 are financing tenure of up to five years, including a 12-month moratorium and zero per cent financing rate for successful applicants,” it said.
To be eligible for this emergency assistance, MIDF said the SMEs affected by the floods need to provide proof of the impact to their businesses, in the form of a letter from the district office or a copy of a police report.
Applicants may find out more information and apply for the SMEEF 2.0 online at www.growyourbusiness.com.my. More information on assistance for SMEs is available at 1-300-88-6433 or email to [email protected].
The MIDF group carries out investment banking, development finance and asset management. It serves entrepreneurs, as well as corporations and institutions. – March 10, 2022
