SME bank's targeted financing relief extended till September, says Wan Junaidi

KUALA LUMPUR: SME Bank will introduce the SME Relief Program (SRP) 2.0 whereby the targeted financing relief facility will be extended for another six months starting from April to September 2021 amid the prevailing challenging situation, according to the Ministry of Entrepreneur Development and Cooperatives.

Minister Datuk Seri Dr Wan Junaidi Tuanku Jaafar said the bank's targeted financing relief through the SRP has benefited 3,084 of the bank's customers with financing value amounting to RM4.41 billion last year.

"Out of this number, 61 entrepreneurs are from Melaka with financing value of RM65.42 million," he said in a statement today.

Apart from the SRP, SME Bank is also directly involved with the Prihatin Rakyat Economic Stimulus Package (PRIHATIN) and the National Economic Recovery Plan (PENJANA), said its group president and chief executive officer Aria Putera Ismail.

Through PRIHATIN, SME BANK has approved over RM630 million in financing to 1,065 entrepreneurs,

Meanwhile, through PENJANA, the bank has approved financing amounting to more than RM6.0 million to 32 entrepreneurs.

The latest, through the Targeted Relief and Recovery Facility and High Tech Facility-National Investment Aspirations, financing amounting to more than RM97 million has been approved to 263 entrepreneurs, Aria said.

SME Bank also provides waiver and discount on rental payment up to six months to 251 SME entrepreneurs involving 373 lots at SME Bank's Entrepreneur Premises Complexes located in 26 locations throughout Malaysia.

"This measure has provided entrepreneurs with operating cost savings amounting to RM6.1 million," he said.

The bank's B2B e-commerce platform, ODELA has recorded transactions worth more than RM4.6 million and a total of 539 merchants have registered with 676 products listed in the system as at Feb 28.

The platform allows entrepreneurs to make transactions, facilitate exchange, foster innovation and partnership across vast ecosystem with just a few clicks.

-- BERNAMA