BNM Disaster Relief Facility (DRF) 2022

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  • BNM Disaster Relief Facility (DRF) 2022
BNM Disaster Relief Facility (DRF) 2022

BNM Disaster Relief Facility (DRF) 2022

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BNM Disaster Relief Facility (DRF) 2022

 

In response to the recent floods, Hong Leong Bank and Hong Leong Islamic Bank would like to announce our participation in the BNM Disaster Relief Facility (DRF) 2022, which aims to alleviate the financial burden of the Microentreprises and Small & Medium Enterprises (MSMEs) affected by the recent floods and enable them to resume their business operations.

Key Features

Scheme Name

BNM Disaster Relief Facility (DRF) 2022

Eligibility

  • Microenterprises and SMEs* (at least 51% shares held by Malaysians) affected by floods located in districts identified by Agensi Pengurusan Bencana Negara as flood disaster areas

*Based on the definition of SME as per SME Corp Malaysia www.smecorp.gov.my

Purpose of Financing

  • Repairs and/or replacement of assets for business use (e.g. plants and machinery) which have been damaged by natural disasters; and/or
  • Working capital.

 

Note: Financing should not be used for refinancing of existing credit / financing facilities.

Financing Rate

  • Up to 3.50% p.a. (inclusive of guarantee fee, if any)

Financing Limit

  • For SME: Maximum of RM 700,000 only per SME*
  • For Micro: Maximum of RM 150,000 only per Micro Enterprise*

 

*Note: A collective financing limit is applicable for SMEs with common shareholder(s) of equal to or more than 20% shareholding.

Guarantee Coverage

  • Up to 80% guarantee coverage by CGC at 0.5% p.a. guarantee fee.

Facility Type

Term Loan

Maximum Tenure

Up to 7 years, including a moratorium period of 6 months on both principal and interest/profit payments.

Collateral

No collateral shall be imposed for financing offered under this Facility.

Availability Period

Until full utilisation or subject to further decision by BNM.

Note: The final approval on financing granted is subject to Bank credit assessment and discretion.

SME customers who are interested can apply for this financing scheme through our SME Relationship Managers.

Alternatively, you can leave your contact details by clicking on the I’m Interested button and our SME Relationship Managers will reach out to you.

 

For more information, please refer to the BNM Disaster Relief Facility (DRF) 2022 FAQ. 

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