Syarikat JaminanPerniagaanBerhad (SJPP) is offering Bumiputera business loans specifically aimed at helping out SME’s that are continuing to suffer from the prolonged effects of the pandemic.
SME’s have continued to face hardships during the prolonged pandemic. But banks and other financial lending institutions are facing their own problems with liquidity. The tendency is for these major lenders to think of SMEs as a risky investment as long as the pandemic is forcing society to restrict its movements and trade.
But SJPP is a wholly-owned subsidiary of the Minister of Finance Incorporated. And they feel an obligation to help SMEs survive the pandemic and contribute to the future of Malaysia.
Bumputera Business Loan Scheme
The Bumiputera business loan scheme is designed to offer Bumiputera-owned SMEs significant funding to help them through the pandemic. The scheme has an individual limit of RM 3-billion per application with a minimum limit of RM 100,000.
The scheme can be applied for through your regular bank or financial lending institution. The Ministry of Finance has pledged to back up the loans issued by banks and lending institutions through this scheme. The purpose of the financing is to provide working capital for capital expenditures. The funds cannot be used to refinance existing funds granted by your bank or other participating institution.
The Bumiputera business loan scheme is just one of several loan schemes offered to help all business sectors of Malaysian SMEs survive the pandemic and its lingering effects on the Malaysian economy.
Benefits of Bumiputera Business Loans
The disruption to businesses that were just launching or in the middle of expansion and growing their infrastructure have been particularly catastrophic. This unfortunate business may have lost money by investing in themselves and their success at the wrong time and now find themselves having to face a ruinous economy when they’re at their weakest.
The Bumiputera business loan scheme comes to the rescue of these otherwise successful ventures by restoring the capital they need to complete their growth and expansion plans. The scheme promises a guarantee of up to 80% of the credit facilities to a participating lending institution. This enables your lender and the SME to re-establish a business connection that guarantees the SME can continue to build on their already-established credit rating.
The loan scheme seeks to re-build the bridges between the Malaysian lenders and the SMEs to restore the confidence that allows lenders to finance SME’s with confidence. For both the banks and lenders, as well as Bumiputera-owned SMEs, the loan scheme could not have come at a better time.
The loan scheme provides a light at the end of a long, dark tunnel. It allows Bumiputera-owned SMEs to stand on their own two feet and re-join the economy of Malaysia. Talk to your bank or lending institution and enquire about the Bumiputera business loan scheme, or any of the loan schemes from SJPP. By applying for the loan scheme, qualifying SMEs can once again look forward to a bright future.