RM3 billion in loans approved for 6,840 SMEs
Loans totalling RM3 billion have been approved for 6,840 small- and mediumsized enterprises (SMEs) under the government’s easy financing scheme until yesterday, Finance Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz said.
The amount was an increase from the RM1.5 billion extended to 3,363 SMEs until April 26.
He said the majority of the amount came from the Special Relief Facility (SRF) where SMEs could apply for up to RM1 million in financing at a 3.5 per cent interest rate, of which 80 per cent of the total funding was guaranteed.
“The response to this facility has been very encouraging and I hope it will be utilised to the fullest,” he said when presenting the Unit for the Implementation and Coordination of National Agencies on the Prihatin Rakyat Stimulus Package’s (Laksana) fourth report yesterday.
Tengku Zafrul said for the Micro-Credit Loan Scheme, up to April 29, RM132 million of the RM700 million micro-credit loans offered at zero per cent interest rate by Bank Simpanan Nasional (BSN) and Tekun Nasional had been approved.
Of the amount, BSN approved RM90 million for 2,000 micro SMEs, while Tekun Nasional approved RM42 million for 5,000 micro SMEs.
He said for the Wage Subsidy Programme, up to May 3, RM1.9 billion of wage subsidies had been approved for the benefit of 235,000 employers and 1.7 million workers.
He said this was an increase from 195,000 employers and 1.5 million workers in last week’s report.
For the Employment Retention Programme (ERP) under the Social Security Organisation (Socso), the government has agreed to increase the allocation from RM120 million to RM240 million.
The programme is aimed at providing workers on unpaid leave a financial aid of RM600 a month for six months.
The ERP was approved on March 16 by the Economic Action Council, with an allocation of RM120 million.
Up to the end of last month, the financial aid had been approved for more than 52,000 employees.
Tengku Zafrul said selected branches of the Employees Provident Fund would resume some of their services today.
He said EPF members could make appointments via www.kwsp.gov.my.
“Approved i-Lestari payments have been credited into members’ bank accounts since yesterday (Monday). Payments would be made until May 18.”
On the reduction of employees’ contribution from 11 per cent to seven per cent, he said up to the end of last month, the total contribution received by EPF members was estimated to be RM977 million a month.
“It is hoped that this amount can help improve the cash flow of EPF members in need.”
He said up to May 3, EPF had approved more than 3.5 million i-Lestari withdrawal applications totalling RM1.66 billion.