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LOAN AT 4% INTEREST FOR SMEs

[ 19-03-2009 ]
LOAN AT 4% INTEREST FOR SMEs


 

Dear all

CIR M11/07:  LOAN AT 4% INTEREST FOR SMEs

The government (via Bank Negara) had announced special loan to SME to assist SMEs to better manage the impact of higher costs on their operation.  The loans carry a low interest rate of 4% per annum with 80% guarantee cover by CGC.

The objective is to provide avenues for SMEs to seek assistance and to enhance efficiency and productivity of SMEs.

 

Among the type of loan available are:


  • RM700 million SME Assistance Facility

This loan is to assist viable SMEs that are facing financial difficulties to manage temporary cash-flow problems due to the rising costs.  The loan is intended to assist viable SMEs to continue their business operations, to preserve employment and to help SMEs in servicing and maintaining credit facilities with banking institutions.

The maximum amount of financing under the Facility is RM1.5 million per SME, with a maximum tenure of 5 years.

  • RM500 million SME Modernisation Facility

This loan is to finance SMEs to modernise their operations, in particular to purchase or upgrade machinery and equipment, as well as for energy saving equipment.

The maximum amount of financing under the Facility is RM5 million or up to 95% margin of financing, with a tenure of up to 8 years.

 

Viable SMEs will be able to obtain financing at 4% per annum from any commercial and Islamic banks, SME Bank, Bank Rakyat and Agro Bank, with an 80% guarantee coverage by CGC.

As at today 6pm, the following commercial bank at Johor Bahru are participating and promoting these facilities:

LOCAL BANK

FOREIGN BANK

Alliance Bank Berhad

HSBC 

CIMB Bank Berhad

UOB 

EON Bank Berhad 

OCBC

Maybank Berhad 

Royal Bank of Scotland 

Public Bank Berhad 

Standard Chartered 

SME Bank Berhad 

 

RHB Bank Berhad 

 

 

Application for new loan scheme will be open for 2 years, commencing from August 1, 2008 to July 31, 2010.

The association wish to urge all SMEs especially from Johor Selatan, will come forward to apply for the loan as we believe the loan can help them to improve their business. It is advisable for SME companies to approach and arrange the loan with their existing banker to secure immediate attention & possibly faster approval.

 

Download:  Attachment 1
  Attachment 2
  Attachment 3

 

For further details, kindly check with the participating bank or your existing banker. You may also referred the attachments for the loan details or you can contact BNMTELELINK at 1-300-88-5465 as well as contact our Asst Secretary Mr Ng See Sun at 019-736-5511 or visit our website: www.smejs.org

 

Secretariat

SME Johor Selatan

 

 

 

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