Bank Negara Malaysia had on Tuesday provided more details on the implementation of two funds, as announced in the Budget 2021 speech by the Minister of Finance. KUALA LUMPUR: Small and medium enterprises (SMEs) impacted by the fallout from the Covid-19 pandemic will be able to get financial assistance from the Targeted Relief and Recovery Facility (TRRF) and Micro Enterprises Facility (MEF). Bank Negara Malaysia had on Tuesday provided more details on the implementation of two funds, as announced in the Budget 2021 speech by the Minister of Finance. It said for the TRRF, the RM2bil was to help eligible SMEs in the services sector. They can obtain financing for working capital purposes of up to RM500,000 for a tenure of up to seven years. The financial assistance, including a repayment moratorium of at least six months, is at a rate of up to 3.5% per annum. It is available through 21 participating financial institutions (PFIs), with guarantee coverage by Credit Guarantee Corporation (CGC) or Syarikat Jaminan Pembiayaan Perniagaan (SJPP).,
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