Business Financing Scheme (SPiM)
Objectives
- To provide business financing facilities to Bumiputera entrepreneurs in major sectors such as Trade, Services and Manufacturing except for Agriculture and Livestock Farming
Terms and Conditions
Basic Terms
- Malaysian citizen and Bumiputera
- Aged between 18-60 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
- Have been operating the business for at least six (6) months
- 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
Scope of Financing
- Revolving capital
- Purchase of machinery and equipment
- Renovation of business premises
Financing Limit
Sole Proprietorship / Partnership :
RM250,000.00
Private Limited (Sdn. Bhd) :
RM500,000.00
Financing Period
1-10 years @ 12-120 months
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 to private limited (Sdn. Bhd.) company requires guarantee/ assurance of all the Board Members
Profit Rate
4%
Majlis Amanah Rakyat (MARA)
21, Jalan MARA
50609 Kuala Lumpur
MARA Hotline : 03-26132000
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