MIDF launches dedicated financing programme for women entrepreneurs

KUALA LUMPUR: MIDF yesterday launched a dedicated financing plan for women – the Women Independent SME Entrepreneurs programme (MWiSE) – supported by MBSB Bank.

MBSB chairman Datuk Wan Kamaruzaman Wan Ahmad said the initiative is a testament to the group’s commitment to bridging the gender gap in business ownership and supporting the growth of women entrepreneurs.

“M-WiSE goes beyond conventional financial solutions; it is a holistic approach aimed at enhancing the competitiveness, efficiency, and productivity of women-owned MSMEs.

“The comprehensive strategies under M-WiSE, such as product marketability improvement, business expansion, and the adoption of modern technology, are designed to empower women entrepreneurs to thrive in today’s competitive business landscape,” he said during the launch event yesterday.

According to Wan Kamaruzaman, M-WiSE consists of two key programmes – a coaching programme where MIDF will sponsor 10 micro women businesses to be part of SME Corp’s GrowBiz programme.

“By investing in the growth of these businesses, we aim to empower women with the knowledge and skills needed to navigate the complexities of the business world,” he added.

Wan Kamaruzaman noted that under the financing programme initiative, MIDF is offering financing to women SMEs with a SCORE rating of three stars and above, as assessed by SME Corp SME Competitiveness Rating for Enhancement (SCORE).

“With financing rates as low as 3.0 per cent per annum and flexible tenures, this program aims to provide accessible and affordable financial solutions to fuel the expansion and development of womenowned enterprises,” he said.