From left: SME Bank acting group president/chief executive officer Datuk Dr. Mohammad Hardee Ibrahim, Entrepreneur Development & Cooperatives deputy minister Datuk Seri Ramanan Ramakrishnan and SME Bank chairman Datuk Muslim Hussain.
KUALA LUMPUR: Small Medium Enterprise Development Bank Malaysia Bhd (SME Bank) has launched the Vanigham Financing Scheme (VFS), a RM50mil financing facility aimed at supporting and empowering small enterprises across Malaysia.
In a statement, SME Bank said the VFS supports its goal of improving financial access and giving all entrepreneurs equal opportunities to grow their businesses.
This financing scheme aims to provide much-needed financial support for asset acquisition, commercial vehicles, and working capital – enabling entrepreneurs to scale their businesses, enhance market reach, and boost competitiveness.
Acting group president and chief executive officer Datuk Dr. Mohammad Hardee Ibrahim said the launch of the VFS demonstrated SME Bank’s commitment to providing tailored financing for specific target groups.
He acknowledged small entrepreneurs as key contributors to the SME ecosystem and an essential pillar in driving Malaysia’s economy.
“Through the introduction of VFS, we hope to encourage more innovative business participation and stimulate strategic entrepreneurship across Malaysia.”
The VFS is an RM50mil financing scheme that offers financing from RM100,000 to RM300,000 for machinery, commercial vehicles, and working capital with a profit rate subsidy from the Government.
The VFS is open for applications until Dec 31, 2027, providing a vital opportunity for entrepreneurs to grow and expand their businesses.
