KUALA LUMPUR: SME Bank has allocated RM200 million to assist entrepreneurs from the 3D (dirty, dangerous and difficult) sector in the manufacturing, services, agriculture and construction business affected by the Covid-19 pandemic.
Group president and chief executive officer Aria Putera Ismail said the 3D sector is one of the sectors that deserves attention and assistance from financial institutions as their business operations have been badly disrupted due to the movement control orders (MCO) since last year.
Aria said the fund allocated under Pemerkasa Matching Grant Financing will enable entrepreneurs to obtain financing up to RM1 million for a maximum period of 10 years with a profit rate between 4 to 5 per cent per annum.
"For each financing approved, the Ministry of Finance (MoF) will provide a matching grant maximum up to 20 per cent of the approved amount.
"This will enable the small and medium enterprises (SME) entrepreneurs to purchase machinery, increase technology adoption in the business and reduce the dependency on foreign labour," he said.
Meanwhile, Aria said customers will also have the opportunity to participate in entrepreneurship coaching and capacity building programs for free conducted by the Centre for Entrepreneur Development and Research Sdn Bhd (CEDAR), a subsidiary of SME Bank.
The financing facility is also eligible for a guarantee of up to 80 per cent from the Syarikat Jaminan Pembiayaan Perniagaan (SJPP), he said.
"We believe the SME Bank Pemerkasa Matching Grant Financing will speed up the transformation of the 3D sector businesses as envisioned by the government, thus attracting more locals to participate in the 3D sector," said Aria.
SME Bank's customers and SME entrepreneurs who would like to know more about the SME Bank Pemerkasa Matching Grant Financing can contact the bank's website and social media platforms.