KUALA LUMPUR: Micro entrepreneurs affected by the Covid-19 pandemic can begin applying for the Strategic Programme to Empower the People and Economy (PEMERKASA) Micro Credit Scheme managed by Bank Simpanan Nasional (BSN), which is available from Thursday onwards.
BSN, the coordinating bank managing RM300 million under the scheme, said it is offering financial assistance of up to RM50,000 with a profit rate of three per cent for the financing period of between one to five-and-a-half years. Monthly instalment payments will only start after the sixth month.
In a statement, BSN spelled out the five options available through both Islamic and conventional financing schemes.
For those requiring funds for working capital or capital expenditure, BSN offers BSN Micro/i PEMERKASA for micro entrepreneurs who own sole proprietorship, partnership or private limited company; BSN Micro/i PEMERKASA-NITA for women entrepreneurs; and BSN Micro/i PEMERKASA MUDA for young entrepreneurs aged 30 years and below; and BSN Micro/i PEMERKASA ISTIMEWA for micro entrepreneurs with disabilities.
All applicants must own, control and operate at least 51 per cent of the business that needs the funds.
The last option is BSN Micro/i PEMERKASA MAMPAN for micro entrepreneurs who own sole proprietorship, partnership or private limited company that require funds to cover recurring overhead expenses of up to six months, including salary, utility bills and rental.
The types of business eligible are those in the retail and wholesale, manufacturing and services sectors.
BSN chief executive Jay Khairil Jeremy said the bank continues to strengthen its commitment in assisting their targeted customers comprising the bottom 40 per cent of income earners (B40), middle 40 per cent (M40) and micro entrepreneurs.
“We acknowledge that our customers, especially micro entrepreneurs, are still in need of the assistance and we will help channel the funds entrusted by the government to meet the needs of those affected by the Covid-19 pandemic,” he said. – Bernama