Bank Negara Says RM3.3b Funds Still Available For SMEs

 LABUAN: A total of RM3.3 billion in funding is still available under the Bank Negara Malaysia’s (BNM) Funds for small and medium enterprises (SMEs) for working capital and the purchase of machinery.

BNM Development Finance and Enterprise Department Director Marina Kahar said local SMEs, including start-ups, should leverage the fund to finance and lower their cost of doing business.

She said the funding could be applied through commercial and Islamic banks, development financial institutions and Credit Guarantee Corp Malaysia Bhd.

A lack of awareness about such funds and grants provided by government agencies and financial institutions is one of the main reasons why they are not fully utilised, she told a media briefing here on Tuesday.

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