Special Business Financing Scheme for Women (DanaNITA)
Objectives
- To enhance women’s participation in entrepreneurial activities, empower existing women entrepreneurs and increase household income
- To provide special financing for Bumiputera women entrepreneurs to expand their businesses.
Terms and Conditions
Basic Terms
- Malaysian citizen and Bumiputera
- Aged between 18-60 years old.
- Have gained enough experience/knowledge in the ventured business
- Possess a valid business registration of Companies Commission Malaysia (CCM) or Suruhanjaya Syarikat Malaysia (SSM)
- Operate in business premises (except for online businesses)
- Have a license/permit/letter of authorization from the local authority (PBT)
- Operate a full-time business
- Have been operating the business for at least six (6) months
- Possess active savings account for at least six (6) months
- Engaged in a Syariah compliance business
- Not a MARA blacklisted individual
The flexibility of Conditions:
1. 51% of shareholders must be of women majority
2. Registered under the Companies Commission Malaysia (SSM)/ Possess valid licenses (applicable in Sabah and Sarawak for financing of RM50,000.00 and below
3. Exempted from permit / letter of authorization from the local authority (PBT) for financing of RM50,000.00 and below
4. Exempted from
renovation quotation / Purchase of Machinery & Equipment for financing of RM50,000.00 and below
5. Bank Account Statement for a period of three (3) months (Online statement is accepted)
6. Grace period of repayment up to 12 months
Scope of Financing
- Revolving capital
- Purchase of machinery and equipment
Financing Limit
RM150,000.00
Financing Period
1-10 years @ 12-120 months
Guarantee / Collateral
- For financing of RM50,000.00 and below, guarantees/collaterals are exempted
- For financing of RM50,001.00 to RM150,000.00:
- 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
Profit Rate
3.5%
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Last update: 22 April 2024 at 15:06:33
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