FINANCING SCHEME
Journal Content
- Express Contract Financing Scheme (SPiKE)
- SPiKE is open to contractors in the following areas:
- Building Contractors Grade G1, G2, G3, G4 and G5
- Supply Contractors
- Service Contractors
- Electrical Contractors
Approval and withdrawals take THREE (3) days from the date a completed application is received.
Applicant Eligibility: -
- A Bumiputera aged 18 years and above
- Experienced / knowledgable in the intended field of business
- Engaged in business on a full-time basis
- Registered with the PKK, CIDB and the Ministry of Finance (whichever is relevant)
Funding Limit:
RM1,000,000.00
Project Awarding Body:
- Government agency and GLC
- Government-Linked Company (GLC) and Public Listed Company
Collateral / Guarantee :
Financing amount of RM250,000.00 and below: Exempted
Financing amount between RM250,001.00 and RM1,000,000.00 :-
- Guarantee: Monthly fixed income must be no less than 3% of total financing amount
- Land Collateral : The Forced Sale Value of Land must be at least 10% of total financing amount
Profit Rate
- 6% per annum