By Durratul Ain Ahmad Fuad
KUALA LUMPUR, Oct 17 (Bernama) -- The MADANI Micro Financing Scheme by Bank Simpanan Nasional (BSN), introduced under Budget 2024, serves as a vital ‘lifeline’ for small and medium enterprises (SMEs) looking to strengthen working capital amidst economic uncertainties and natural disasters.
The scheme supports working capital, as well as the acquisition of business assets and the renovation of premises.
One beneficiary, BSN Micro Financing Mohd Nurzul Hafiz Tamril, 37, revealed that he received RM95,000 in financing over two separate instances to bolster his business’s working capital after the devastation caused by floods.
Mohd Nurzul, who operates Shell petrol stations through his company Stesyen Minyak Nurzul, began his business in July 2020 with a Shell outlet in Shah Alam.
“During the floods, our estimated losses were around RM75,000. While we managed to make an insurance claim, it didn’t cover everything. A significant portion of our stock was damaged, and theft also occurred,” he told Bernama recently.
He explained that the station had to close for several days for repairs.
“Shell took care of the pump equipment repairs, but we still faced losses due to the absence of customers. Many vehicles were damaged in the flood. It took us three months to bring sales back to normal,” he said.
Despite these setbacks, Mohd Nurzul persevered, earning 'gold retailer' status with Shell for three consecutive years. This success enabled him to open a second Shell station in Klang in August this year.
“Alhamdulillah (praise be to God), business is doing very well. For our Klang station, we plan to increase sales by offering additional services such as automatic teller machines and car wash facilities. Our goal is to make it a one-stop centre for customers,” he added.
He commended the MADANI Micro Financing Scheme for offering critical support to traders in challenging times, emphasising the ease of the application process.
“I’m thankful to the government for creating these opportunities. The MADANI government provides extensive support to traders like us. I encourage other SMEs to seize such opportunities—you never know how your business might flourish,” he said.
As of Sept 30, BSN has disbursed RM433.52 million in financing under the scheme this year.
Those interested in applying can visit their nearest BSN branch or the BSN website.
-- BERNAMA
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