Bank Negara Malaysia recently announced the establishment of a RM2 billion SME Assistance Guarantee Scheme (SAGS) to ensure that viable SMEs adversely impacted by the current economic slowdown continue to have access to adequate financing.
With the guarantee cover, it is envisaged that access to financing to viable SMEs will be enhanced and at a lower cost.
Eligible SMEs can obtain financing of up to RM500,000 per SME under this Scheme for tenures of up to 5 years. The Credit Guarantee Corporation (CGC) will provide an 80% for financing approved under this Scheme.
Eligible SMEs can obtain financing of up to RM500,000 per SME under this Scheme for tenures of up to 5 years. The Credit Guarantee Corporation (CGC) will provide an 80% for financing approved under this Scheme.
The guarantee cover will be provided free of charge and the cost of the guarantee will be fully borne by Bank Negara Malaysia.
Financing obtained under this Scheme is for new financing only and must be used for business purposes, such as working capital, project financing and capital expenditure.
This Scheme can be accessed at any commercial and Islamic bank, SME Bank, Agrobank, Bank Rakyat, EXIM Bank and Bank Simpanan Nasional.
This Scheme can be accessed at any commercial and Islamic bank, SME Bank, Agrobank, Bank Rakyat, EXIM Bank and Bank Simpanan Nasional.
Participating financial institutions will determine the lending or financing rate to be charged and applications are subject to the normal credit approval process of the participating financial institutions.
Applications for this Scheme will be open from 3rd February 2009 till 31st December 2009 or when the financing limit of RM2 billion has been fully utilised.
For further details, SMEs can approach the participating financial institutions or contact BNMTELELINK at 1-300-88-5465 or visit the BNM website at www.bnm.gov.my
0 comments:
Post a Comment