How many SMEs benefited from RM2.7b in approved loans?

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Over 5,000 SMEs Benefited from RM2.7 Billion in Approved Loans

As of April 15, more than 5,000 small and medium enterprises (SMEs) have received loan approvals totalling RM2.7 billion. These loans are part of an easy financing facility for SMEs administered by Bank Negara Malaysia, with an attractive financing rate of 3.5 per cent. This represents a significant increase from the previous week, when RM1.5 billion in loans was approved for 3,000 SMEs.
Loan Approval Figures

Up to April 15, a total of RM2.7 billion in loans has been disbursed to over 5,000 SMEs. This facility, managed by Bank Negara Malaysia and accessible through participating domestic banks, offers a preferential financing rate of 3.5 per cent. The total funds available under this facility amounted to RM6.3 billion as of the same date.
Growth in Loan Disbursements

The approved loan amount has seen a substantial rise, moving from RM1.5 billion for 3,000 SMEs in the week prior to April 15, to RM2.7 billion for more than 5,000 SMEs by April 15. This indicates a consistent and increasing flow of financial support to the SME sector.
Government Guarantee Coverage

To further encourage bank participation and streamline the approval process, up to 80 per cent of these loans are covered by a government guarantee. This provision aims to mitigate risks for financial institutions, thereby driving them to expedite loan application reviews and approvals.
Oversight and Delivery of Stimulus

The Inter-Agencies Economic Stimulus Implementation and Coordination Unit, known as Laksana, is responsible for tracking and monitoring the delivery of economic stimulus packages. This unit ensures that government initiatives, such as the easy financing facility for SMEs, effectively reach and benefit all segments of society.

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How many SMEs benefited from RM2.7b in approved loans?

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