Malaysian Industrial Development Finance Bhd (MIDF) today announced special financing assistance under the SME Emergency Fund (SMEEF) to help small and medium enterprises (SMEs) that have been severely affected by the floods around several states of Malaysia for the past few days.
Head of MIDF’s Development Finance Division (DFD) Azizi Hj. Mustafa says, “To be eligible for this emergency assistance, SMEs operating in designated disaster areas only need to provide proof of the impact of the natural disaster, in the form of a letter from the district office or a copy of a police report.
Applicants must also possess a valid premises license issued by the local municipal council.
Under the SMEEF, MIDF offers financing amounts of up to RM100,000 for flood-affected SMEs in all economic sectors; and is eligible for items including machinery and equipment, refurbishment of business premises, and working capital.
The SMEEF was established to aid SMEs whose operations have been damaged by floods and other natural catastrophes such as droughts, beach erosions, and landslides.
The fund is provided by the Ministry of Entrepreneur Development & Cooperatives through SME Corporation Malaysia and managed by MIDF.
