With the recent spike in COVID-19 cases in Malaysia, majority of banks in Malaysia are offering a special financing of up to RM1 million to assist SMEs affected by the coronavirus under the Special Relief Facility (SRF). This move is helpful in hindsight due to the recent partial lockdown that the nation has implemented that will undoubtedly cause a slowdown in business and productivity.
The SRF financing period is for 5 years with a competitive profit rate of 3.75% per annum and entails no collateral. The moratorium would enable bank customers to manage their cash flow while guaranteeing the continuity of their business operations.
Malaysian SMEs that are affected by the outbreak can take advantage of the relief measures presented by the banks to ensure more safety nets against the poor economy that results from COVID-19’s spread.
Hence Slurp! has compiled most of the banks that are offering the SRF to all of our F&B and SME clients. For application and inquiries, F&B and SME owners proceed through the respective bank’s website.
2. Bank Rakyat
3. Bank Muamalat
4. SME Bank
5. CIMB Bank
7. Public Bank
9. Alliance Bank
10. Hong Leong Bank
If you are looking of ways to fund your dream cafe or restaurant, you can read our article on that here.
Please contact the respective banks for more information regarding the Special Relief Facility (SRF) in order to provide relief for running your business during the COVID-19 outbreak. We truly hope this effort by BNM will be able to help small and medium enterprises affected.