PETALING JAYA: AmBank is offering a special relief facility comprising financing of up to RM1 million to SMEs affected by Covid-19, said AMMB Holdings Bhd group CEO Datuk Sulaiman Mohd Tahir.
“AmBank has established a simple process for those applying for this facility with approval provided within 24 hours and disbursement within five days of approval. We are working towards reducing the disbursement timeframe further,” he said in a statement.
AmBank continues to offer temporary payment deferment for affected customers, both individuals and businesses. In line with this measure, AmBank is engaging with customers via its relationship managers to extend their trade bills by one cycle to further cushion the impact to cash flow.
“We will review the need for additional programmes to address the credit and financing needs of individual customers.”
Meanwhile, Public Bank is working with Bank Negara Malaysia to offer the special relief facility to SMEs. The bank is facilitating faster loan approval and disbursement to assist eligible SMEs to overcome their financial constraint.
It is also offering immediate moratorium of up to six months for the monthly instalment payments of loans and financing for individual and business customers affected by the outbreak. It will continue to accommodate requests by affected customers to restructure or reschedule their loans and financing.
“As the outbreak escalates, Public Bank will continue to be active in providing financial relief measures to help all its customers to alleviate their financial difficulties,” Public Bank managing director Tan Sri Tay Ah Lek said.