BNM has on 28 February 2020 announced the allocation of a RM2.0 billion Special Relief Facility (SRF) to alleviate the financial burden and assist in the resumption of business operations of the SMEs affected by the recent 2019-nCoV (COVID-19) outbreak, effective from 6th March 2020 to 31st December 2020.
On 27th March BNM announced an increase in the allocation of the Special Relief Facility (SRF), from RM2 billion to RM5 billion, to provide relief assistance to more SMEs who are affected by the COVID-19 outbreak. The maximum financing rate is now lowered from 3.75% p.a. to 3.50% p.a. The enhanced SRF is available until 31 December 2020.
|Type of Loan||Term Loan|
|Purpose of Facilities||Working Capital|
|Tenure & Rapayment||5.5 years
-Grace period 6 months
-60 months equal monthly repayments (P+I)
|Interest Rates||3.5% p.a. on monthly rest|
|Who can apply||SMEs adversely affected by COVID-19 registered with the Companies Commission of Malaysia (SSM).
At least with 51% shareholders are Malaysians.
|Note that individual banks may imposed their own special conditions to the loan.|