BizJamin-i RAKYAT2E

Objective

• BizJamin-i RAKYAT2E is a collaborative initiative between CGC and Bank Kerjasama Rakyat Malaysia Berhad, aimed in providing financing to Micro SMEs for their business needs.

Purpose of Financing

• Working capital; and/or
• Capital expenditure

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, including:

i) Sole Proprietorship;

ii) Partnership;

iii) Limited Liability Partnership; or

iv) Private Limited Company.

• 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 21 years old and 65 years old upon full settlement;
• Business has been in operation for at least six (6) months and resided at the business premise under the same key person and similar business nature;

i) iTEKAD participants; or

ii) Informal micro customer; or

iii) Home-based business.

• Business key person/management have completed and attended the iTEKAD programme and / or attended any of the following business courses organised by:

i) Bank Kerjasama Rakyat Malaysia Berhad; or

ii) INSKEN (National Entrepreneurship Institute); or

iii) Other training available that can be accepted by Bank Kerjasama Rakyat Malaysia Berhad (conditions must be completed before approval).

Maximum Financing Limit

• Up to RM10,000.00

Maximum Financing Tenure

• Up to five (5) years

Type of Financing Facilities

• Term Financing

Guarantee Cover

• 80%

*Guarantee Fee is borne by the Bank

Participating Financial Institutions

• Bank Kerjasama Rakyat Malaysia Berhad

Profit Rate

• 7.5% p.a. (flat rate)

*subject to revision (if any) by Bank Kerjasama Rakyat Malaysia Berhad

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 Kerjasama Rakyat Malaysia Berhad for financing application processing.

Application Period

• The scheme is made available until the exhaustion of allocation, or subject to further notice.