As a responsible and caring bank in the Agriculture Industry, Agrobank is rolling out a suite of measures along with initiatives undertaken by Bank Negara Malaysia (BNM) to our Small and Medium Enterprises (SMEs) customers affected by the COVID-19 pandemic.
These measures aim to provide relief and also to overcome the impact of the coronavirus outbreak on their finances.
MORATORIUM
Agrobank offers an immediate moratorium of up to six (6) months for the monthly installment payments of financing to our existing customers.
We will also continue to accommodate requests from our affected customers to restructure or reschedule their financing to help with their cash-flow situation.
SPECIAL RELIEF FACILITY (SRF)
Agrobank through BNM’s Stimulus Package 2020 is also providing a Special Relief Facility (SRF) in the amount of RM5 Billion, which will be deployed in the form of working capital to assist SMEs that are adversely affected by COVID-19.
We will provide a prompt, collateral-free financing facility of up to RM1mil per SME with a competitive financing profit rate up to 3.50% per annum (inclusive any guarantee fee)
Eligible SMEs can obtain this financing facility with us for a tenure of up to 5.5 years, including a moratorium period of 6 months.
The SRF is available from 6 March 2020 to 31 December 2020.
OTHER SUPPORTS UNDER STIMULUS PACKAGE 2020
Apart from Moratorium and Special Relief Facility which are targeted to provide immediate and cash flow support to SMEs that impacted by COVID-19, Agrobank has also launched other financing facilities under BNM’s Stimulus Package 2020.
1. Agrofood Facility (AF)
With an allocation of RM1 Billion, Agrofood Facility offered by Agrobank aims to help SMEs to increase food production for Malaysia and for export purposes.
Eligible SMEs can obtain financing of up to RM5 million for a tenure of up to 8 years.
The financing profit rate is up to 3.75% per annum (inclusive of any guarantee fee).
The AF is available from 6 March 2020.
2. SME Automation and Digitalisation Facility (ADF)
With an allocation of RM300 million, through SME Automation and Digitalisation Facility (ADF), offered by Agrobank, it aims to help SMEs to automate processes and modernize their business efficiency in order to improve productivity.
Eligible SMEs can obtain financing of up to RM3 million for a tenure of up to 10 years.
The financing profit rate is at a rate of 4.00% per annum (inclusive of any guarantee fee).
The ADF is available from 6 March 2020 to 31 December 2020.
Agrobank continues monitoring the developments of COVID-19 and is always prepared to support our customers with the best financial solution especially during this difficult time.
Our officers who work directly with the customers are trained to identify, assist and provide them with the right financial support to address your unique business needs.
For more details on Agrobank’s COVID-19 relief measures, you can contact our Customer Contact Centre at 1-300-88-2476.
