Tourism, Arts and Culture Minister Nancy Shukri said the scheme was aimed at retaining the capabilities and increasing the competitiveness of SMEs as well as local micro-companies, besides helping them adjust to post-Covid-19 norms.

“SMEs and micro-companies which fulfil the qualifying criteria of SME Corp Malaysia, or which are licensed or registered under the ministry in core tourism and tourism-related sectors, are eligible to apply for the financing scheme.

“The scheme offers up to RM75,000 in financing for micro-companies and up to RM300,000 for SMEs with up to 3.5% interest per year, for a period of not more than seven years,” she said in a statement.

Nancy said 12 financial institutions were involved in the financing scheme, and that successful applicants would be given a minimum of six months’ loan repayment moratorium.

Details of the scheme are available on Penjana’s website at http://penjana.treasury.gov.my.