The Sarawak Micro Credit Scheme (SKMS) is open for Sarawakians, both Bumiputera and non-Bumiputeras, residing and operating their businesses in Sarawak
Beginning 1st April 2020, small and medium enterprises (SMEs) are now able to apply for the Sarawak Micro Credit Scheme (SKMS).
The scheme is open for Sarawakians, both Bumiputera and non-Bumiputeras, residing and operating their businesses in Sarawak.
The scheme was introduced by the Sarawak government in 2019 as a mean to provide financial assistance to entrepreneurs for their business’s expansion and diversification.
For the scheme, the State government has set aside RM30 million for the implementation of SKMS.
However, due to the current Covid-19 situation, the State government has agreed to add in RM20 million under the recently announced Sarawakku Sayang Special Package.
The scheme is divided into SKMS I and SKMS II where the first provides loans or financing of RM1,000 to RM10,000 with no interest or profit rate to entrepreneurs from the B40 (low income group).
SMKS II on the other hand provides loan or financing of RM5,000 to RM50,000 with interest or profit rates of four percent based on the reduced monthly balance to small-scale and micro-entrepreneurs.
Those interest in applying may download the application form at www.mintred.sarawak.gov.my, or www.sedc.com.my.
