Professional Financing Scheme (ProSPEC)

Objectives

To provide business financing facilities under the Professional Entrepreneur Development Programme (ProSPEC)
To increase the participation of Bumiputera entrepreneurs in the field of professional entrepreneurship

Terms and Conditions

Basic Terms

Malaysian citizen and Bumiputera
Aged between 18-60 years
Have a valid business registration (SSM)
Operate in a business premise
Have a license / permit / letter of authorization from the local authority (PBT)
Operate a full-time business
Engaged in a syariah compliance business
Not a MARA blacklisted individual
Able to contribute own capital of not less than 10% of the project cost

Specific Terms

Professionals who are recognized and registered as members of any relevant professional body
Have work experience in related professional fields within specific periods and criteria through entrepreneur development programmes set by MARA
Fullfill specific requirements through the relevant entrepreneurship development programme conducted by MARA

Scope of Financing

Financing Limit

Financing Period

Guarantee / Collateral

Guarantee
One or more guarantors with a monthly fixed income of not less than 3% of the total financing applied

Or

Collateral
Land collateral with Forced Sale Value of at least 10% of the financing applied

Or

A combination of both

Or

Fixed Deposits
Islamic fixed deposit (General Investment Account) based on 10% of the financing value

Financing for private limited (Sdn. Bhd.) companies requires guarantee/ assurance of all the Board Members

Profit Rate

ONLINE APPLICATION