MARA Integrated Smart Auto (MISA)

Basic Terms

1. Malaysian citizen and Bumiputera
2. Aged between 20-60 years
3. Have gained enough experience / knowledge in the ventured business
4. Have a valid business registration (SSM)
5. Operate in a business premise
6. Have a license / permit / letter of authorization from the local authority (PBT)
7. Operate a full-time business
8. Engaged in a syariah compliance business
9. Not a MARA blacklisted individual
10. Able to contribute own capital of not less than 10% of the project cost

Specific Terms

1. 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
2. Able to produce current Audited Financial Statements for three (3) consecutive years

• Revolving capital
• Purchase of machinery and equipment
• Renovation of business premises / workshops

RM1,000,000.00

1-10 years @ 12-120 months

• 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

0.5-2% (fixed rate)