BNM Targeted Relief and Recovery Facility (TRRF)
We are pleased to announce our participation in the BNM Targeted Relief and Recovery Facility (TRRF), to aid the recovery and continuity of eligible SMEs in services sector affected by reintroduction of COVID-19 containment measures since June 2020.
Key Features | |
---|---|
Scheme Name | Targeted Relief and Recovery Facility (TRRF) (effective 1st December 2020) |
Eligibility |
*Based on the definition of SME as per SME Corp Malaysia www.smecorp.gov.my |
Purpose of Financing | For working capital Note: Financing is not allowed for refinancing of existing facility granted by HLB or other participating Banks. |
Financing Rate | Up to 3.50% p.a. inclusive of guarantee fee |
Financing Limit |
Note: The financing limit is inclusive of financing to SMEs with common shareholder(s) of ≥ 20% shareholding. The final approved financing limit is subject to BNM approval, credit assessments by the Bank and CGC / SJPP guarantee. |
Facility Type | Term Loan |
Financing Tenure | Up to 7 years including a moratorium period of 6 months on monthly instalments.
Interest will be accrued during the 6 months moratorium / repayment deferment period and spread out over the 6.5 years repayment period. |
Guarantee Coverage* |
*Guarantee coverage can be obtained from either Credit Guarantee Corporation (CGC) / Syarikat Jaminan Pembiayaan Perniagaan (SJPP). |
Collateral | No collateral needed |
Availability Period | Up to 31 Dec 2021 or upon full utilization (whichever is earlier) |
Documents Required | 1) Business registration documents 2) Latest 6 months bank statements 3) Financial statement (audited and / or management) 4) Copy of IC of directors / partners / shareholders / guarantors |
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.