BSN gets RM700m to assist COVID-19-hit micro-entrepreneurs

by BERNAMA/ pic by BERNAMA

BANK Simpanan Nasional (BSN) has received an allocation of RM700 million from the government for disbursement of loans/ financing to COVID-19-hit micro-entrepreneurs through the BSN Micro/i Kredit Prihatin.

Its chief executive officer, Datuk Yunos Abd Ghani (picture) said the financing is offered at two per cent interest rate without collateral to all micro-entrepreneurs in various segments on condition that they have been in business for at least six months, instead of one year previously.

He said to enable micro-entrepreneurs to continue their business, the maximum financing amount was also increased from RM50,000 to RM75,000 for each entrepreneur with a loan/ financing period of between one and 5.5 years.