SME Bank offers six-month deferment to 59 entrepreneurs affected by floods

Entrepreneur Development and Cooperatives Minister Tan Sri Noh Omar said the tenure of the deferment for all 59 small and medium enterprise (SME) entrepreneurs is until September 2022.

"The number of entrepreneurs may increase based on the number of customers who may be affected in the event of another wave of floods in the near future," he said in a joint statement between the Ministry of Enterpreneur Development and Cooperatives (MEDAC) and SME Bank today.

Noh said the bank also provides rental waiver for 41 units of SME factories at the SME Bank Shah Alam Entrepreneur Premises Complex affected by the floods.

"The rental payment waiver initiative amounting to RM230,000 is for a period of two months from January to February 2022," he said

Noh said the SME Bank flood relief programme is available from Jan 1 to March 31, 2022.

The bank is also offering various financing assistance to affected entrepreneurs, he said, adding that the bank's proactive action to provide assistance to affected SMEs is in line with the government's mandate.

"We want to ensure that not a single victim of this calamity to be left behind from receiving support andassistance so that they are able to revive and continue their businesses," he said.

Meanwhile, SME Bank group president and chief executive officer Aria Putera Ismail said the bank has also channeled contributions worth more than RM100,000 through collaborations with MEDAC and Islamic Relief Malaysia (IRM).

He said cash amounting to RM100,000 was distributed to the MEDAC Entrepreneur and Cooperative Fund, including RM20,000 for initiatives implemented by IRM.

Aria said SME Bank's subsidiary, Centre for Entrepreneur Development and Research Sdn Bhd (CEDAR) is also ready to provide advisory services on business plan restructuring, as well as other entrepreneur development programmes to enable entrepreneurs to resume operations as soon as the situation recovers.