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PUNB opens applications for Bumiputera relief financing

25 Aug 2020 / 13:12 H.

SHAH ALAM: Perbadanan Usahawan Nasional Bhd (PUNB) has opened applications for a special financing initiative, Bumiputera Relief Financing (BRF) amounting to RM200 million under the National Economic Recovery Plan (PENJANA) starting today.

Its chairman, Tan Sri Noh Omar said the initiative offers funding of between RM100,000 and RM1 million for Bumiputera companies affected by Covid-19 to continue operations.

“The funding will be available until the fund runs out,“ he said when announcing the opening of the BRF applications here.

Noh expects the BRF to benefit 200 small and medium enterprises (SMEs) nationwide and the recipients will be given a six-month automatic payment deferment from the date of withdrawal of the fund.

The initiative is open to SMEs involve in the trade retail and distribution, manufacturing and engineering, systems automation, health, hospitality, logistics, warehousing, services, and creative industries.

Companies that are eligible to apply must have at least 70 per cent Bumiputera ownership and have a sales turnover of RM300,000 per year.

Applications can be made online at PUNB’s official portal at www.punb.com.my.

The profit rate charged is only 3.5 per cent per annum with a maximum payment period of up to five years and six months. -Bernama

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