SME Corporation Malaysia (SME Corp) is stepping up its efforts to provide financial aid to small and medium enterprises (SMEs) that are facing financial difficulties, as well as those in underserved sectors, by introducing a new financing facility, the SME Revitalisation Financing (SMERF).
Being a financing scheme under the Pemerkasa initiative by the Government channelled through SME Corp, the scheme aims to facilitate viable SMEs to sustain its businesses and strive through enhancing its product marketability via the adoption of technology and modernisation.
To help alleviate the burdens caused by the COVID-19 pandemic, SMERF offers financing amount up to RM250,000 or up to 90% of total costs of eligible items, with an interest rate as low as 3%.
“The scheme will give some breathing space to the SMEs and microenterprises by easing their cashflow blockage,” said SME Corp CEO Rizal Nainy.
Applications for SMERF will be open to effected SMEs starting today.
For more information on the new financing scheme or about the reduction in financing rates, the public may contact MIDF through its Business Advisory Unit at 1-300-88-6433 or email [email protected]. – July 24, 2021
