Latest Updates
- Establishment of New Financing Facilities by BNM (21 Jan 2022)
- BNM¡¯s Disaster Relief Facility 2022 for MSMEs Affected by the Recent Floods (20 Dec 2021)
- Additional assistance for SMEs and individuals under Budget 2022 (29 Oct 2021)
- Enhancements to Facilities under BNM¡¯s Fund for SMEs (2 July 2021)
- Additional Allocation of RM700 million for the SME Automation and Digitalisation Facility (17 Mar 2021)
- Additional Allocation of RM2 billion for the Targeted Relief and Recovery Facility and the Establishment of a RM200 million Disaster Relief Facility 2021 (5 Feb 2021)
- Measures to Assist Businesses and Households Affected by the COVID-19 Outbreak (27 Feb 2020)
SMEs are a critical component of the Malaysian economy, contributing more than a third of gross domestic product (GDP) and providing job opportunities to more than four million workers in Malaysia. Banking institutions is the main source of financing for SMEs, providing more than 90% of total financing. Provision of SME financing is also complemented by the Development Financial Institutions, BNM¡¯s Fund for SMEs and Government Funds.
Over the years, there have been various initiatives implemented to enhance SME financing ecosystem in Malaysia. Here is a quick view on how you can tap into the ecosystem
As at end-July 2024
51% of Business Financing
89% of Business Financing Accounts
Access to BNM's Fund for SMEs
BNM's Fund for SMEs
- The objective of these funds is to provide access to financing at reasonable cost for SMEs in all economic sectors.
- The funds are channelled through participating financial institutions (PFIs), comprising all licensed banks, prescribed development financial institutions and the Credit Guarantee Corporation Malaysia Berhad (CGC).
- Application must be submitted through any PFIs and approval will be subjected to the normal credit assessment of the PFI.
- For more details, please visit bnm.gov.my/funds4SME
Disaster Relief Facility
- The objective of this Facility is to alleviate the financial burden of micro, small and medium enterprises (MSMEs) affected by natural disasters such as floods, to enable them to resume their business operations.
- In January 2022, BNM has increased the allocation of the DRF 2022 by RM300 million, bringing the total allocation to RM500 million, with some enhancements to its features.
- For more details, please refer to [Press Release] [Brochure] [FAQs].
Government Funds
For other available Government funds, find out more at SMEinfo.com.my
CAKNA
- CAKNA is a scheme aimed to enhance access to funding for Micro, Small and Medium Enterprises (MSMEs) and small contractors (G1- G4) who obtained Government contracts and need funding from financial institution to strengthen their cash flow and financial position.
- There are two schemes under CAKNA, namely CAKNA I and CAKNA II. CAKNA I is to cater for the liquidity needs of MSMEs post-delivery of contract while CAKNA II is to cater for the financing needs of small contractors to implement the contract.
- The types of facilities, qualifying criteria and participating FIs for CAKNA I and CAKNA II are varied. For more information, please visit the CAKNA page.
Microfinance
- Skim Pembiayaan Mikro is a microfinance scheme that enables fast, easy and convenient access to business financing of up to RM50,000 without collateral from participating financial institutions (PFIs).
- This scheme has been supporting the financing needs of micro enterprises and self employed individuals since 2006 under the National Sustainable Microfinance Framework where micro businesses can have access to financing at a lower rate via the Micro Enterprises Facility (MEF) that was established by Bank Negara Malaysia, and is channelled through the PFIs of Pembiayaan Mikro. For more details on MEF, please refer to this Brochure.
- For more information, please visit the Microfinance page.
Social Finance
Social finance plays a role in supporting the socioeconomic development of the low-income segment in Malaysia, complementing public sector finance and commercially-driven financial solutions to promote greater social resilience.
For more information, please refer to the Social Finance page.
Online Financing Platforms
imSME Portal
- SME financing/loan referral platform owned and managed by Credit Guarantee Corporation Malaysia Berhad (CGC), with participation from 22 Financial Institutions including 5 Development Financial Institutions, 3 Agencies and 4 Alternative Financiers.
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It is a channel to facilitate SMEs to access non-collateral financing/loans which allow SMEs to:
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Access fast and real-time information on financing/loan options, anytime, anywhere 24/7.
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Search for financing/loan by participating banks at their convenience, hassle-free.
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Apply for loan/financing from a single platform.
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- For more details, visit imsme.com.my
Investment Account Platform (IAP)
- A multi-bank platform that facilitates channelling of funds from investors to finance viable ventures, including SMEs.
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It is intermediated by participating Islamic banks via restricted Investment Account (RA) as governed under IFSA 2013 and DFIA 2002.
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The platform is operated by IAP Integrated, a wholly-owned subsidiary of Raeed Holdings, where the latter is a consortium of six financial institutions namely Maybank Islamic, Bank Islam Malaysia Berhad, Bank Muamalat Malaysia Berhad, Affin Islamic Berhad, Bank Simpanan Nasional and Bank Kerjasama Rakyat Malaysia Berhad.
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For further details, visit www.iaplatform.com
SME Touchpoints:
Guide on Where to Seek Advice
I need advice on:
Pusat Sehenti Keusahawanan @SME Hub, SME Corp Malaysia
Capacity Building
- Starting a business
- Market access
- Brand development
- Rating & Certification
1-300-30-6000
info@smecorp.gov.my
www.smeinfo.com.my
www.smecorp.gov.my
www.myassist-msme.gov.my
CGC & imSME
Capacity Building
- Unsecured financing
- Alternative financing
- Financial advisory
- Market access
+603-7880-0088
csc@cgc.com.my
www.cgc.com.my
www.imsme.com.my
BNMLINK
Redress Assistance
- BNM's Fund for SMEs
- CCRIS/eCCRIS
- Advisory & complaint
1-300-88-5465
bnmlink.bnm.gov.my
Agensi Kaunseling & Pengurusan Kredit (AKPK)
Redress Assistance
- Financial education
- Financial counselling
- Debt management program
- Small Debt Resolution Scheme (SDRS)
- Program Pengurusan dan Ketahanan Kewangan (URUS)
- SME Helpdesk
+603-2616-7766
www.akpk.org.my
www.akpk.org.my/sdrs
Ombudsman for Financial Services (OFS)
Redress Assistance
- Resolving financial disputes with financial service providers
+603-2272-2811
enquiry@ofs.org.my
www.ofs.org.my
ABM Connect
Redress Assistance
- Complaints against conventional commercial banks
- Referral to SME Help Desk of ABM Member Banks
1-300-88-9980
www.abm.org.my
Advisory & Capacity Building Channels
SMEs can seek assistance from:
Business Registration
Suruhanjaya Syarikat Malaysia (SSM)
+603-7721 4000
enquiry@ssm.com.my
www.ssm.com.my
Startups, Technopreneurs
Technology Park Malaysia (TPM)
+603-8998-2020 / 3000
info@tpm.com.my
www.tpm.com.my
Productivity & Quality Improvement
Malaysia Productivity Corporation (MPC)
+603-7955-7266
info@mpc.gov.my
www.mpc.gov.my
Export Enhancement
Malaysian External Trade Development Corporation (MATRADE)
+603-6207-7077
info@matrade.gov.my
www.matrade.gov.my
ICT, e-Commerce
Malaysian Digital Economy Corporation (MDEC)
1-800-88-8338
clic@mdec.com.my
www.mdec.my
Women Micro Entrepreneurs
Amanah Ikhtiar Malaysia (AIM)
+603-6274-8810
ikhtiar@aim.gov.my
www.aim.gov.my
Entrepreneurship Development
Institut Keusahawanan Negara (INSKEN)
+603-8314-8800
insken@insken.gov.my
www.insken.gov.my
Bumiputera Entrepreneurs
Majlis Amanah Rakyat (MARA)
+603-2613-2000
informasi@mara.gov.my
www.mara.gov.my
Innovative Startups,
Entrepreneurship Development
Malaysian Global Innovation & Creativity Centre (MaGIC)
+603-8324-4801
enquiries@mymagic.my
www.mymagic.my
"Train-the-Trainers" Programmes
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Bank Negara Malaysia has embarked on the Train-the-Trainers (TTT) programme since 2016, aimed at enhancing the capabilities of financial institutions in delivering quality advisory services to the SMEs.
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This programme is a close collaboration between Bank Negara Malaysia, Bankers¡¯ Associations led by the Association of Banks in Malaysia, SME Corporation Malaysia (SME Corp), Credit Guarantee Corporation Malaysia Berhad and Agensi Kaunseling dan Pengurusan Kredit. The programme was established to bridge the information asymmetry issues highlighted at the Workshop on SME Financing organised by the Bank for the industry and SMEs.
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TTT will assist in enhancing the level of awareness on the availability of various initiatives and services established by the Government to assist SMEs.
Awareness Programmes
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Bank Negara Malaysia continuously conducts various outreach programme to SMEs and the public in promoting financial inclusion and SME financing access and participate in several events organised by the Ministries and key government agencies.
- The programmes aimed at elevating the awareness level and knowledge among the entrepreneurs on various initiatives and assistances provided for the SMEs will be available from time to time and notification are through Bank Negara Malaysia¡¯s website and social media plaforms.
List of SME Awareness Programmes: 2015 | 2016 | 2017 | 2018
Videos of SME Advisory Webinars since 2020
SME Definition
The new definition took effect from 1 January 2014 and has been simplified under two categories, namely:
- Manufacturing: Sales turnover not exceeding RM50 million OR full-time employees not exceeding 200 workers; and
- Services and other sectors: Sales turnover not exceeding RM20 million OR full-time employees not exceeding 75 workers.
Details at www.smecorp.gov.my
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