KUALA LUMPUR: Danajamin Nasional Bhd will provide RM50bil in loan guarantees to struggling companies seeking to raise funds for working capital.
The minimum loan size under this guarantee scheme is RM20mil per business. Each guarantee is up to 80% of the total loan taken for the purpose of working capital.
Prime Minister Tan Sri Muhyiddin Yassin, in his speech to unveil the massive RM250bil stimulus package today, said the scheme is targeted at viable businesses across all sectors affected by the Covid-19 pandemic.
The scheme will be made available starting from May 1 until Dec 31, 2020, or until the guarantee is fully utilised.
The loan guarantees will be managed by Danajamin, subject to its own credit assessment.
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