Which SMEs are prioritised under the Penjana SME Financing scheme?

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The Penjana SME Financing Scheme Prioritises Businesses with No Prior Bank Loans

The Penjana SME Financing scheme prioritises small and medium enterprises (SMEs) that have not previously received any form of bank financing. This initiative, part of the National Economic Recovery Plan, aims to support businesses by providing crucial capital. As of January 22, a total of RM1.22 billion has been approved under this scheme for 6,404 applications, out of an allocated RM2 billion.
Focus on Underserved Businesses

The core objective of the Penjana SME Financing scheme is to extend financial support to SMEs that have historically been excluded from traditional banking channels. This targeted approach ensures that companies lacking a banking track record are given an opportunity to access funds for their operations and recovery.
Significant Funding Approvals

As of January 22, the scheme had seen substantial uptake, with RM1.22 billion in financing approved. This reflects a considerable commitment to supporting the targeted SME segment. The overall allocation for this specific financing initiative stands at RM2 billion, indicating room for further disbursement.
Broader Economic Recovery Initiatives

The Penjana SME Financing scheme operates within a wider framework of economic recovery measures. Other related programmes include the RM100 million Tekun Business Recovery Scheme for micro SMEs, which has reportedly met its objective by assisting 14,946 micro SMEs. Additionally, the Penjana Tourism Financing, with a RM1 billion allocation, had approved RM55.4 million for 277 applications by January 22.
Support for Micro and Bumiputera Enterprises

Further financial assistance is available through the Penjana Micro Credit Financing, managed by Bank Simpanan Nasional, which had disbursed RM340 million to 10,037 micro SMEs as of January 22. For Bumiputera SMEs impacted by Covid-19, the Bumiputera Relief Financing had disbursed RM135.5 million to 494 SMEs, offering between RM100,000 and RM1 million in financing. The agriculture and food industry also receives support through Agrobank Micro Credit Financing, with RM74.5 million channelled to 7,012 agricultural micro SMEs.

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Which SMEs are prioritised under the Penjana SME Financing scheme?

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