MIDF provides enhanced financing assistance to SMEs affected by natural disasters.

Malaysian Industrial Development Finance Berhad (MIDF) in collaboration with SME Corp. Malaysia introduced the SME Emergency Fund 2.0 (SMEEF 2.0) on 15 February 2022, an enhanced version of the SME Emergency Fund (SMEEF) that was first introduced in 2012. SMEEF 2.0 is a special financing assistance to help small and medium enterprises (SMEs) that have been severely affected by natural disasters including floods, storms, droughts, beach erosions and landslides. The fund is provided by the Ministry of Entrepreneur Development & Cooperatives (MEDAC) through SME Corporation Malaysia and managed by MIDF.

Under the SMEEF 2.0 which is applicable to all economic sectors affected by the recent flood, MIDF offers financing amount of up to RM100,000 for financing of assets such as machinery and equipment, refurbishment of business premises as well as working capital. Other enhancements under the SMEEF 2.0 are financing tenure of up to 5 years, including a 12-month moratorium and 0% financing rate for successful applicants.

To be eligible for this emergency assistance, SMEs affected by the flood need to provide proof of the impact to their businesses, in the form of a letter from the district office or a copy of a police report. Applicants must also possess a valid premises license issued by the local municipal council.