Your business affected by NATURAL DISASTER? SME Emergency Fund is now available.
SME Emergency Fund (SMEEF) has been launched. Businesses that are affected by natural disaster can apply for financial assistance under this Fund. Interested applicants can apply at the nearest Malaysia Industrial Development Finance (MIDF) office. The financial assistance is in the form of soft loan.
Financing assistance for existing operating SMEs affected by flood, storm, drought, beach erosion or landslide.
- SMEs incorporated under the Companies Act 1965 or Registration of Business Ordinance 1956;
- SMEs operating in all economic sectors;
- Possesses a valid premises licence issued by the municipal council (pihak berkuasa tempatan);
- Provides proof of evidence of natural disaster through a letter issued by the district office or a copy of a police report; and
- Operates in the area declared as a disaster area by Majlis Keselamatan Negara or district offices.
Sectors: All economic sectors.
Amount: RM50,000 < x < RM100,000
- Purchase of raw materials and/or consumables; and
- Refurbishment of business premises.
Machinery and/or equipment:
– Up to 90% for new assets
– Up to 65% for used/reconditioned machinery/equipment which are not more than 5 years old
Refurbishment of business premises:
– Up to 90% of the cost.
Purchase of Raw Materials and/or Consumables:
– Up to 90% of the working capital requirements
- Machinery and Equipment: Up to 3 years including grace period of up to 6 months;
- Refurbishment of Business Premises: Up to 3 years including grace period of up to 6 months;
- IT Equipment: Up to 3 years including grace period of up to 6 months; and
- Purchase of Raw Materials and/or Consumables: Up to 3 years including grace period of up to 6 months.
Interest Rate: 3.0% p.a. on yearly rest.