PETALING JAYA: Bank Negara is providing access to financing at reasonable costs for small and medium enterprises (SMEs) with its all economic sector (AES) facility.
The facility has a maximum financing amount of RM5mil and a tenure of up to five years, and aims to assist SMEs with their capital expenditures and working capital.
The facility is available for Malaysian SMEs that are approved by the National Entrepreneur and SME Development Council.
To qualify for the AES, potential applicants will need to be registered with the Companies Commission of Malaysia or authorities/district offices in Sabah and Sarawak; or statutory bodies for professional service providers.
Additionally, the shareholding by public listed companies and government-linked companies (if any) in the SMEs must not exceed 20%
The SMEs must also comprise Malaysians residing in Malaysia that hold a minimum of 51% shareholding in the business.
Participating financial institutions in the facility include commercial banks, Islamic banks and development financial institutions regulated by the central bank.
