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Axiata launches COVID-19 Assistance Program to help micro-SMEs affected by the pandemic
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Axiata launches COVID-19 Assistance Program to help micro-SMEs affected by the pandemic

by Vyncent ChanMarch 25, 2020
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Axiata along with its subsidiaries, Celcom, edotco and Boost announced the launch of Axiata’s COVID-19 Assistance Program. The program consists of a RM150 million cash fund to provide assistance to micro-SMEs. The Ministry of Finance has contributed RM20 million to the program too.

Axiata’s COVID-19 Assistance Program will provide micro-loans for micro-SMEs via the Aspirasi digital platform. Loans ranging between RM1000 to RM10 000 and on favorable terms are expected to benefit an estimated 150 000 micro-SMEs within Boost, Aspirasi and Celcom ecosystem as well as within other ecosystems including its e-commerce, FMCG partners and potentially other telcos and e-wallets.

The COVID-19 Assistance Program will also offer suspendend repayment requirements and concessional interest rates to avoid burdening micro-SMEs during these trying times. The program will also bundle micro-insurance covering emergency income, accidental death and COVID-19 assistance too.

All micro-SMEs have to do to obtain a loan via the COVID-19 Assistance Program is undergo a quick 3-minute online process powered by Aspirasi, and once approved, funding will be made available in 48 hours from their bank account. You can check out the program here.

The COVID-19 Assistance Program should be really helpful during the COVID-19 Restricted Movement Order (RMO) which has just been extended. Micro-SMEs generally have minimal savings and buffers to protect them from the impact of recent events, so having a micro-loan with favorable conditions will definitely be very helpful.

Pokdepinion: Nice to see some help from Axiata to protect small businesses from going bankrupt.

About The Author
Vyncent Chan
Technology enthusiast, casual gamer, pharmacy graduate. Strongly opposes proprietary standards and always on the look out for incredible bang-for-buck.

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