Medac offers moratorium for flood-affected MSME entrepreneurs

Medac offers moratorium for flood-affected MSME entrepreneurs

PUTRAJAYA,. The Ministry of Entrepreneur Development and Cooperatives (Medac) is offering a moratorium to flood-affected micro, small and medium enterprise (MSME) entrepreneurs who are financed by its agencies.

Its Minister Tan Sri Noh Omar, in a statement today, said the moratorium was in line with the commitment of Prime Minister Datuk Seri Ismail Sabri Yaakob who was concerned about the plight of MSME entrepreneurs and wanted the sector to be revived immediately.

Noh said Bank Rakyat is offering a six-month bank loan moratorium on its Personal Financing-i, Housing-i, Vehicle-i, Vehicle Hire Purchase-i, Education-i, Micro-i as well as deferment of profit payments for Mortgage-i.

He said a six-month moratorium will also be given to Perbadanan Usahawan Nasional Bhd (PUNB) entrepreneurs affected by the floods.

Apart from that, Noh said a two-month rent exemption would also be given to SME Bank’s Entrepreneur Premises Complex tenants affected by the disaster.

“SME Bank also offers a loan rescheduling initiative and financing up to RM500,000 under the Disaster Recovery Fund as well as a six-month moratorium for all the affected entrepreneurs,” he said.

SME Corp offers three financing packages, namely SME Revitalisation Financing (SMERF), Soft Loan Scheme For Small and Medium Enterprise (SLSME) dan SME Emergency Fund (SMEEF) for all flood-affected SME entreprenuers in all sectors for them to have access to financing to start, restart and continue their business.

“Those who participate in these three programmes will also be given a moratorium of up to 6 months until June 2022,” said Noh.

— Bernama

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