MSMEs Can Apply For RM5 Bln SME Relief Facility Until Dec 2026 - Sim

PUTRAJAYA, May 16 (Bernama) -- Bank Negara Malaysia’s (BNM) RM5 billion SME Stabilisation Relief Facility (SME SRF) is open for applications by micro, small and medium enterprises (MSMEs) from yesterday until Dec 31, 2026.

Entrepreneur Development and Cooperatives Minister Steven Sim said eligible MSMEs could apply for financing of up to RM750,000 at a maximum interest or profit rate of 3.7 per cent per annum.

The facility will be channelled through 18 participating financial institutions, including Bank Kerjasama Rakyat Malaysia Berhad (Bank Rakyat) and SME Bank under the ministry (KUSKOP).

“MSMEs can apply for the financing from May 15 until Dec 31, 2026, or until the RM5 billion allocation is fully utilised,” he said in a statement today.

Sim also urged participating financial institutions to speed up the application, approval and disbursement processes under the SME SRF through faster, more flexible and MSME-friendly procedures to ensure assistance reaches businesses affected by current economic uncertainties quickly.

He said KUSKOP hoped financial institutions would continue to play their role as strategic partners to MSMEs by adopting a more inclusive and practical approach in assessing financing applications.

The new RM5 billion fund from BNM, together with an additional RM5 billion guarantee by the Credit Guarantee Corporation Malaysia Berhad (SJPP), has increased the total allocation and funding for the MSME sector this year to RM60 billion, compared with RM50 billion announced under Budget 2026.

-- BERNAMA