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Name of Scheme Working Capital Guarantee Scheme - StartUp
Scheme Limit RM200 million
Objective To assist start up SMEs companies in all sectors to gain access to financing from financial institutions
Eligibility
  • Must fall within the definition of SMEs companies
  • Start-up Malaysian owned and controlled private limited companies registered under the Companies Act 1965, Sole Proprietorship or Partnership
  • Applicable for viable business - minimum of six (6) months in operation
  • Mandatory for site visit to be conducted by participating financial institutions before approval of loan
Financing Limits Minimum: RM50,000

Maximum: RM500,000
Purpose of Financing The facility is to be used for working capital requirements as well as for capital expense (CAPEX). The facility cannot be used to refinance existing facility granted by the same or other participating Financial Institutions (“FIs”)

The participating FIs and/or SJPP will be responsible for determining the genuineness of the Borrower based on their respective credit evaluation procedures
Interest Rates/Profit Rate/Commission/Fees Determined by participating FIs
Type of Facility Term Loan/Term Financing, Overdraft and Trade Facility
Source of Funds From the participating FIs
Guarantee Coverage 70% guarantee to the financing obtained from the participating FIs (including principal and interest) by the Government of Malaysia
Guarantee Fee 0.75 % per annum payable upfront
Tenure of Financing Facility/Guarantee Tenure Up to nine (9) years or until 31 December 2025, whichever is earlier
Availability /Application Period From 1 June 2017 onwards or upon exhaustion of the scheme limit of Ringgit Malaysia Two Hundred Million (RM200 million) only, whichever is earlier
Participating Financial Institutions Open to all Commercial Banks, Islamic Banks and Development Financial Institutions under the purview of Bank Negara Malaysia