Image credit: The Sun Daily

KUALA LUMPUR: Syarikat Jaminan Pembiayaan Perniagaan Bhd (SJPP) which launched two new financing schemes today, said a total of RM16.7 billion of funds are available through various government guarantee scheme funds for small and medium enterprises(SMEs) to tap into.

The wholly owned subsidiary of Minister of Finance Incorporated has made RM30 billion worth of financing available through various financial institutions since its inception in 2009---benefitting some 11,339 SMEs.

In line with the 2018 Budget allocation, SJPP today launched two new schemes totalling to RM2.5 billion, namely the Automation Process Guarantee Scheme (APGS) and the Intellectual Property Guarantee Scheme(IPGS).

"The IPGS is to assist the companies with Intellectual Property(IP) to gain access to financing using these IPs. This will hopefully encourage the growth of new firms which are based on technology and innovation," said Secretary General of Treasury and Chairman of SJPP, Tan Sri Dr Mohd Irwan Serigar Abdullah at a briefing earlier today.

The APGS on the other hand will assist companies to gain access to financing from financial institutions to embrace automation.