Loans for SMEs

Several financing facilities have been introduced under the Economic Stimulus Packages to assist businesses cope with the COVID-19 outbreak.

Key features of the BNM’s financing facilities

To support the cash flow of small and medium enterprises (SME) impacted by the COVID-19 outbreak, Bank Negara Malaysia (BNM) is allocating RM13.8 billion of financing facilities under BNM Fund for SMEs to provide support for SMEs in sustaining business operations, safeguard jobs and encourage domestic investments.

A summary of the key features of the BNM’s financing facilities as announced by the Government to help businesses in combating the adverse economic conditions brought about by the COVID-19 outbreak is reproduced below:

Please find below the relevant links for further details:

FAQ on Measures to Assist Individuals, SMEs and Corporates Affected by COVID-19

FAQ dated 30 March 2020 -
Source 1: https://www.bnm.gov.my/index.php?rp=en_faqcovid19loan

Supplementary FAQ dated 7 April 2020 -
Source 1: https://www.bnm.gov.my/index.php?rp=en_faqcovid19loansupp

Initiatives & Measures

PERKESO

The Wage Subsidy Program, Employment Retention Program and Employment Insurance System have been introduced to assist businesses in dealing with the COVID-19 outbreak.

Inland Revenue Board

The IRB has announced various measures to assist taxpayers in coping with their tax obligations during the Movement Control Order period.

Employees Provident Fund (EPF)

Employers have been given an option to apply for deferment and restructuring of employer’s share of EPF contributions.

Human Resources Development Fund (HRDF)

Employers have been given a 6-month exemption from contributing to the Human Resources Development Fund.