KUALA LUMPUR: SME Bank has allocated RM300 million through its Lestari Bumi Financing Scheme to help develop micro and small entrepreneurs to enable them to increase production capacity, expand market access, and be more competitive to ensure business sustainability.
Group president and chief executive officer Aria Putera Ismail said the scheme was part of several initiatives announced by the government in Budget 2021. Through this scheme, entrepreneurs can apply for working capital and purchase of assets with total financing ranging from RM100,000 to RM750,000. The scheme enables entrepreneurs to receive more structured assistance according to their business needs and gain access to more effective and organised training and coaching programmes from Centre for Entrepreneur Development and Research Sdn Bhd, a wholly-owned subsidiary of SME Bank, he said in a statement today.
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SSM raises indebtedness threshold for companies to RM50k on permanent basis
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The Companies Commission of Malaysia (SSM) has permanently raised the indebtedness threshold for companies from RM10,000 to RM50,000 effective April 1.
Domestic Trade and Consumer Affairs Minister Alexander Nanta Linggi (
above) in a statement today said the initiative was in the wake of the global and domestic economic situation, which may take longer to recover from the slowdown due to the Covid-19 pandemic.
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Finance Minister Datuk Seri Tengku Zafrul Abdul Aziz speaks during a press conference in Putrajaya March 18, 2021. Picture by Miera Zulyana
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KUALA LUMPUR, April 1 The government is offering assistance from the Small and Medium Enterprise (SME) Soft Loan Fund of the National Economic Regeneration Plan (Penjana) which involves financing amounting to RM11.75 billion to 24,824 SMEs that have received approval as of March 19, 2021.
Finance Minister Datuk Seri Tengku Zafrul Abdul Aziz said among the funds are the Special Relief Facility (SRF), Automation and Digitalisation Facility (ADF), All-Economic Sector Facility (AES) and others.