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.