The move marked a breakthrough in tailoring inclusive financial support for all Malaysians, in tandem with the principles of MADANI.
ACCCIM President Datuk Ng Yih Pyng said the soft loan fund would bridge the financing gap for underserved and viable MSME businesses, focusing on providing affordable, accessible and often non-collateralised financing. The fund was aimed particularly at businesses facing financial constraints in boosting cash flow, upgrading technology and expanding their business.
He urged trade associations and chambers to encourage their members to actively apply for available assistance, adding that ACCCIM would work with KUSKOP to ensure business owners were aware of and could easily access the financial funds. ACCCIM could act as an intermediary by disseminating information, conducting outreach for the fund, helping members navigate the fund’s application processes, and working with the Ministry to tailor financial support to the specific needs of MSMEs.
As SMEs face increasing pressure to improve productivity and adopt technology to remain competitive in a rapidly evolving and complex business landscape, ACCCIM expressed hope that the Government would continue to provide targeted assistance programmes and implement capacity-building development for MSMEs.
ACCCIM also stressed the need for effective execution of the programme, including ease of application and approval processes, to expedite the disbursement of funds to MSMEs.
