SME Bank extends moratorium assistance to SMEs affected by flood

KUALA LUMPUR: SME Bank Malaysia is offering a six-month automatic moratorium assistance to all customers affected by the current flood situation.

Entrepreneur Development and Cooperatives Minister Datuk Seri Wan Junaidi Jaafar said the moratorium would allow entrepreneurs to stabilise their cash flow.

“It also provides space for entrepreneurs to focus on repairing office areas, factories and premises so that they can resume operations,” he said in a statement yesterday.

He added that SME Bank has implemented various entrepreneur assistance programmes and provided financing facilities to small and medium-sized enterprise (SME) entrepreneurs affected by the Covid-19 pandemic as well as natural disasters.

Meanwhile, SME Bank Group president/chief executive officer Aria Putera Ismail said the bank is also ready to provide advisory services on restructuring of business plans as well as other relevant entrepreneur development training programmes to enable entrepreneurs to resume operations.

The service is provided through its wholly owned subsidiary, Centre for Entrepreneur Development and Research Sdn Bhd (CEDAR), which offers unique and effective entrepreneur development and coaching programmes.

“For more information on the moratorium assistance, entrepreneurs who are affected by the floods are required to contact their respective Relationship Managers as soon as possible,” he said, adding that the moratorium assistance is subject to terms and conditions.