Loans, facilities available for SMEs
17 April 2015
LOANS, FACILITIES AVAILABLE FOR SMEs
KUALA LUMPUR: Ministry of Finance (MOF) is urging the Small and Medium Enterprises (SMEs) to apply for facilities under the Services Sector Guarantee Scheme (SSGS) and the Flood Relief Loan Guarantee Scheme (FRLGS).
In a press release on Friday, Syarikat Jaminan Pembiayaan Perniagaan (SJPP), a unit under MOF said that SSGS encompasses SMEs in the services sector only.
The company added that under the SSGS, companies could access to working capital and capital expenses financing at a minimum of RM100, 000 and a maximum of RM5mil per company.
“A total guarantee of RM5 billion is allocated for this purpose and the scheme is managed by SJPP, a company under Minister of Finance,” SJPP added.
The company noted that SMEs could get access to this guarantee through 22 financial institutions taking part in this scheme.
On the other hand, FRLGS aim is to revive SMEs that have been affected by the on-going floods in the flood disaster areas defined by Majlis Keselamatan Negara.
Under this scheme, the company said SMEs would be assisted with relations to financing of working capital, operating expenses and capital expenses to buy damaged equipments.
“Affected SMEs can apply at a minimum of RM50,000 and at a maximum of RM2 million per company. A total of RM500mil guarantee has been allocated for this purpose,” SJPP said.
SJPP director Nungsari Ahmad Radhi said both schemes would assist SMEs to expand their businesses.
Furthermore, SJPP said these schemes are in tandem with the government’s policy of emphasizing domestic investments and SME growth to drive the national economy.
“The SSGS is a particular emphasis on the services sector, which is expected to contribute more towards Malaysia’s international trade. The FRLGS is open to all SMEs affected by the floods.” SJPP added.