Hong Leong Bank to help SMEs secure financing under Penjana

Hong Leong Bank group managing director and CEO Domenic Fuda said being a bank with a strong entrepreneurship heritage, the bank would help “SMEs reboot their businesses with this financing scheme aimed at providing short term financial buffers as a way to protect the business continuity plans”.

“The Hong Leong Bank PSF scheme is available to all SMEs including emerging SMEs (i.e. SMEs with a minimum of 12 months business operations or SMEs with no credit/ borrowing history) as part of their business recovery and continuity journey, ” it said in a statement.

Eligible SMEs stand to receive financing in the form of working capital of up to RM500,000 per SME with no collateral required for a term loan up to five years, with a financing rate capped at 3.50% per annum.