More financial assistance for Mara borrowers, SMEs

Business borrowers are given the flexibility apart from exempting the rental payment of business premises to the affected traders, says minister


THE Majlis Amanah Rakyat (Mara) has given flexibility to reschedule education loan repayments to those borrowers who were affected by the flood disaster situation.

Rural Development Minister Datuk Seri Mahdzir Khalid said business borrowers were also given the flexibility apart from exempting the rental payment of business premises to the affected traders.

“For those who are victims of the floods and affected by the disaster, they can apply for the relaxation by contacting the nearest Mara’s state or district office.

“This incentive is a sign of Mara’s concern for the hardships and losses incurred by the recipients of facilities affected by the disaster,” he said in a recent statement.

For now, Mahdzir said Mara will also not continue any enforcement action against borrowers of Mara facilities who were affected by the floods that hit this time.

He said for tenants of Mara business premises, the consideration of rental payment exemption is based on the damage and losses incurred by the tenants.

“I hope this incentive will be able to ease the burden of borrowers, especially entrepreneurs in restoring the company’s operations and cashflow.

“We are also very sympathetic to the catastrophic floods that hit this time and hope that all the affected victims can be patient with this test that had to be faced,” he added.

Affected borrowers who want to get more information on the flood disaster incentives, can visit the website

Separately, Malaysian Industrial Development Finance Bhd (MIDF) said it is offering special financing assistance under the SME Emergency Fund (SMEEF) to help small and medium enterprises (SMEs) that have been severely affected by the floods.

The fund assistance comes in the form of financing up to RM100,000 for affected SMEs in all economic sectors.

The victims may use the monetary aid for machinery, equipment, refurbishment of business premises and working capital purposes.

SMEEF was established to aid SMEs whose operations have been harmed by flood and other natural disasters such as droughts, beach erosions and landslides.

To be eligible for this emergency assistance, SMEs operating in designated disaster areas just need to present a letter stating they are affected by the flood from the district office or a copy of a police report.

Applicants must also possess a valid premises licence issued by the local municipal council.

The fund is provided by the Ministry of Entrepreneur Development & Cooperatives through SME Corp Malaysia and managed by MIDF.

More information about the special aid can be obtained from MIDF business advisory team at 1-300-88-6433 or email at [email protected].