Objective
- BizJamin-i Micro TemanMesra is a collaborative initiative between CGC and Bank Simpanan Nasional, aimed in providing financing to Micro SMEs for their business needs.
Purpose of Financing
- Working capital; and/or
- Asset acquisition; and/or
- Renovation of business premises
Eligibility Criteria
- Business is Malaysian-controlled and Malaysian-owned with at least 51% shareholding;
- Any business registered with SSM or authorities/district offices in Sabah/Sarawak or statutory bodies for professional service providers, including:
i) Sole Proprietorship;
ii) Partnership; or
iii) Limited Liability Partnership; or
iv) Private Limited Company; or
v) Professionals firm
- Business must meet the definition of Micro category issued by SME Corporation Malaysia (for details, please click here);
- Minimum key person/management’s age at the point of application shall be between 18 years old and 60 years old upon full settlement;
- Business has been in operations for at least two (2) years under similar business nature;
- All business segment i.e. retail and wholesale, manufacturing, services and other sectors and sub-sectors that will be considered by BSN Management on a case-by-case basis.
Maximum Financing Limit
- Up to RM50,000.00
Maximum Financing Tenure
- Up to five (5) years
Type of Financing Facilities
- Term Financing
Guarantee Cover
- 70%
*Guarantee Fee is borne by the Bank
Participating Financial Institutions
- Bank Simpanan Nasional
Profit Rate
- 5.99% to 7.49% p.a. (flat rate)
*Subject to revision (if any) by Bank Simpanan Nasional
Application Procedures
- Applicants are to submit application to CGC for guarantee cover approval.
- Approved application for successful applicants will be submitted by CGC to Bank Simpanan Nasional for financing application processing.
Application Period
- The scheme is made available until the exhaustion of allocation, or subject to further notice.