What is the low financing rate for SMEs under this facility?

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The low financing rate for SMEs under Bank Negara Malaysia's easy financing facility is 3.5 per cent.

As of April 15, loans amounting to RM2.7 billion have been approved for over 5,000 small and medium enterprises (SMEs) through this facility. These loans were disbursed by participating domestic banks and are backed by up to an 80 per cent government guarantee.
Loan Approval Figures

The total funds available under the facility reached RM6.3 billion as of April 15, 2020. The RM2.7 billion in approved loans represents a significant increase from the previous week, when RM1.5 billion had been approved for 3,000 SMEs.
Facility Administration and Support

This easy financing facility is administered by Bank Negara Malaysia. The low financing rate of 3.5 per cent is a key feature designed to support SMEs.
Government Guarantee Coverage

A significant aspect of the facility is the provision of up to 80 per cent government guarantee coverage. This coverage is intended to encourage banks to expedite the loan application and approval process for SMEs.

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What is the low financing rate for SMEs under this facility?

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