Perbadanan Usahawan Nasional Bhd (PUNB) has opened applications for a special financing initiative, Bumiputera Relief Financing (BRF) amounting to RM200 million under the National Economic Recovery Plan (PENJANA).
PUNB offers funding from RM 100,000 to RM 1 million for Bumiputera companies affected by Covid-19 so that they can continue their business operations. Its chairman, Tan Sri Noh Omar said the initiative offers funding of between RM100,000 and RM1 million for Bumiputera companies affected by COVID-19 to continue operations.
The Bumiputera Relief Financing will benefit 200 small and medium enterprises (SMEs) nationwide and eligible recipients will be given a six-month automatic payment deferment from the date of withdrawal of the fund.
BRF funding is open to all SMEs involve in the trade retail and distribution, manufacturing and engineering, systems automation, health, hospitality, logistics, warehousing, services and creative industries.
- Bumiputera businesses adversely affected by the economic downturn caused by COVID-19 pandemic with minimum annual sales turnover of RM300,000.
- Business entities registered with Companies Commission of Malaysia (SSM), Inland Revenue Board (IRB), Employees Provident Fund (EPF), Social Security Organisation (SOCSO) or other equivalent bodies or local authorities. It EXCLUDES entities that are listed on Bursa Malaysia and subsidiaries of:
- Public Listed Companies (local or foreign)
- Multinational Corporations (MNC/Large Firms)
- Government Linked Companies (GLC)
- Minister of Finance (Incorporated) (MoF Inc.)
- State Owned Enterprises
- Bumiputera owned companies (at least 70% effective Bumiputera shareholding in the company)
- Reasonable credit history
- Automatic 6-months of moratorium will be given from the date of disbursement
- No collateral needed
- Fast approval within 21 working days (upon submission of complete documents and information)
The profit rate charged is only 3.5% per annum with a maximum payment period of up to five years and six months.
Interested applicants can apply online at PUNB’s official portal at www.punb.com.my.