Example of the criterias to apply:

Scheme name:

• BNM Special Relief Fund – COVID-19 (effective 6 March 2020)

Eligibility: 

• Malaysian SMEs adversely affected by COVID-19
• Business registered with the Companies Commission of Malaysia (SSM), authorities/district offices in Sabah and Sarawak or statutory bodies for professional service providers;
• Malaysian residing in Malaysia with minimum 51% shareholding in the SMEs;
• Maximum shareholders fund not exceeding RM5 Million; and
• Business shareholding by Public Listed Companies and Government Linked Companies (if any) in the SMEs shall not exceed 20%.

Note: “SMEs” per BNM and SME Corp Malaysia definition

Purpose of Financing:

• Working capital

Note: Financing shall not be used to refinance existing credit /financing facilities.

Financing Rate:

• Up to 3.75% p.a. (inclusive of guarantee fee of 0.5% p.a.)

Financing Limit:

• Max of RM1 million per SME, inclusive of financing to related companies that have common shareholder(s)*

Guarantee Coverage:

• Up to 80% guarantee coverage by CGC / SJPP

Facility Type:

• Term Loan

Maximum Tenure:

• Up to 5.5 years from the date of the first drawdown (including a moratorium period of 6 months on both principal and interest/profit payments).

Collateral:

• No collateral shall be required from SMEs under this Facility.

Availability Period:

• 6 Mar 2020 to 31 Dec 2020

Document Required:

• Min 6 months bank statements
• Business registration docs
• Copy of IC of directors / partners / shareholders

*Note:

• The final approved financing limit for all applications is subject to BNM approvals.
• Every bank have their own criteria, you are advised to verify the information from the bank website directly.