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PUTRAJAYA: Small and Medium Enterprises (SMEs) players are urged to take advantange of RM3.9 billion worth of funds still available under Bank Negara Malaysia to finance and boost the viability of their businesses.

Finance Minister Lim Guan Eng said the ministry had received complaints from some SMEs on the difficulties to get loans from the banking sector, which had resulted in some companies shutting down their businesses.

“I have raised this many times urging them to refer to Bank Negara and brought it up in Cabinet on the SMEs’ difficulty to get loans.

“But, in actual fact it is not difficult and there are those in Bank Negara who are managing it including the Bank Negara assistant Governor Abu Hassan Aishari Yahaya who is here today.

“They have told me that there are over RM3 billion of loans available for the SMEs. So, there is no reason for the entrepreneurs to find it difficult to secure loans.

“Perhaps there are other factors involved on why they do not get the loans. It can be due to collateral issue or others. But, Bank Negara is always ready to help,” he told reporters here today.

Later, Abu Hassan said the RM3.9 billion available fund under the Bank Negara SME portfolio, included the RM3.3 billion for all economic sectors under SME; RM97.9 million for the primary agriculture sector; RM6.9 million for micro enterprises; and, RM191.4 million for the Bumiputera Entrepreneur Fund-i project.

He also said Bank Negara had always helped the SMEs that were vibrant and competitive in doing businesses.

Source: https://www.nst.com.my/business/2018/09/414843/smes-urged-take-advantage-rm39-billion-worth-funds-available