However, FMBA notes that it was a challenge for businesses to meet the documentation needs or guidelines set to qualify for this assistance and says an automatic moratorium, with the option to opt-out, would be more helpful.Notably, SMEs with bank loans for machinery and vehicles will need the assistance to safeguard their cash flow for survival.
WITH the current lockdown extended to June 28, things are about to get tougher for businesses. Amid the restrictions and rising inflation, the need for cash flow support has become even more apparent and urgent for businesses, particularly SMEs.
While business associations have accepted the need for a lockdown to curb the spread of Covid-19, many are also appealing to the government for more assistance given the ongoing restrictions on operations.
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