The Muhibbah Fund launched earlier this year, is expected to close the gap in financing small and medium-sized enterprises (SME) and give local entrepreneurs a helping hand to expand their businesses overseas. The revolving fund, which provides capital for SMEs, is an initiative by Koperasi Usahawan Metropolitan Bhd (Co-Met). It is carried out under a strategic partnership with investment and equity fund IBB International Holdings Ltd. Seen as Co-Met’s most significant move to help SMEs, the RM80 mil fund is endorsed by the Secretariat for the Advancement of Malaysian Entrepreneurs (SAME). The fund, which gives loans with a three-year tenure, focuses on companies that are sustainable and with a social entrepreneurship component in their framework. However, it has a relatively strict selection criteria. A total of 40 companies applied for it but only four were shortlisted – Cubinet Interactive Sdn Bhd, Jocom International Holdings Sdn Bhd, Teguh Makmur Sdn Bhd and DPZ Tech Sdn Bhd. so far.