• Bank Negara Malaysia Funded Schemes

Introduction

As part of the continuous effort to ensure availability of adequate funds at reasonable costs to small and medium enterprises (SMEs), Bank Negara Malaysia (BNM) has established the Fund for Small and Medium Industries 2 (FSMI2) and the New Entrepreneurs Fund 2 (NEF2). The FSMI2 was established on 15 April 2000, while the NEF2 was established on 15 July 2001.

Current eligibility criteria of the FSMI2 and NEF2 are as follows:

  1. The shareholders' funds of the SMEs should not exceed RM2 million;
  2. Shareholdings by public listed companies or Government-linked companies in the SMEs should not exceed 20%; and
  3. SMEs should have a track record not exceeding seven years.

Participating financial institutions may, however, consider cases of SMEs who have been in operation for more than seven years.

Financing rates, ranging from 4% to 6% per annum, will be charged for the funds, reflecting the risk profile of the SME customer. FSMI2 and NEF2 are eligible for CGC guarantee where the guarantee fee is borne by the Bank.

FSMI2 and NEF2 are channeled through the commercial banks, finance companies, Islamic banks, Bank Industri Kecil & Sederhana Malaysia Berhad (SME Bank), Bank Pembangunan & Infrastruktur Malaysia Berhad, Malaysian Industrial Development Finance Berhad, Bank Pertanian Malaysia (for FSMI2 only), as well as the Sabah Development Bank Berhad (for FSMI2 only).

All these Government funds are aimed at enhancing access to financing for viable SMEs, in particular, for those who may face difficulties in obtaining financing from financial institutions due to their insufficient performance or financial track record.

Ensures that eligible SMEs in both the export and domestic-oriented sectors have access to financing at a reasonable cost.

 

 

Promotes the growth of small and medium-sized Bumiputera enterprises, by ensuring that they have access to financing at a reasonable cost.

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