MARA Integrated Smart Auto (MISA)

Objectives

To increase the number of Bumiputera entrepreneurs in automotive that provide 3S (Sales, Service & Spare parts)
To provide opportunities and help entrepreneurs upgrade their existing workshop

Terms and Conditions

Basic Terms

Malaysian citizen and Bumiputera
Aged between 20-60 years
Have gained enough experience / knowledge in the ventured business
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

Have obtained at least three (3) years of technical experience in automotive field, own a workshop and need to expand the business through a conversion strategy
Able to produce current Audited Financial Statements for three (3) consecutive years

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

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

Or

The combination of all three
Financing to private limited (Sdn. Bhd.) company requires guarantee/ assurance of all the Board Members

Profit Rate

ONLINE APPLICATION

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