Scheme Limit:RM3.0 billion
- Tenure of Financing:
Up to fifteen (15) years or until 31st December 2035, whichever is earlier
- Availability/ Application Period:
From 1st February 2020 and upon full utilisation of the Scheme limit of up to RM3.0 billion only or upon expiry of guarantee tenure on 31st December 2035, whichever is earlier
- Purpose of Financing:
- Working Capital
- Capital Expenditure
This guarantee scheme cannot be used to refinance existing facility granted by the same or other participating financial institutions
- Type of Facility:
Term Loan/ Term Financing, Overdraft/ Cash Line-i, Trade Facilities and Commercial Card
- Financing Limit:
Minimum: RM100,000.00 only
Maximum: RM3.0 million only
- Guarantee Coverage:
80% guarantee of the financing obtained from the participating FIs (including principal and interest/ profit) by the Government of Malaysia
- Guarantee Fee:
0.75% per annum payable upfront
- Source of Funds/ Financing Facility:
From the participating financial institutions
- Interest/ Profit Rate:
Determined by participating financial institutions
Grow Your Business With SME Bumiputera Loans
Starting or growing your business can be an exciting yet a tough challenge. From registering your company, developing products and services, pitch for sales to getting funds, each step is filled with its own set of hurdles and opportunities in which entrepreneurs need to be resilient to overcome.
While Malaysia has a comprehensive financial landscape for SMEs, the challenge has been for a more diverse financing that can meet the needs of SMEs across all sectors to strengthen the capability of SMEs as they develop and expand. Hence, funding has been one of the most important aspects for SMEs in starting, growing and sustaining their business.
Living amid a global pandemic, loans and other forms of financial assistance have become more vital than ever for businesses to pull through and potentially expand in these times of need. SMEs, including Bumiputera-owned businesses, are looking for loans, such as Government loans and funds, which have been a top choice for many entrepreneurs due to their host of benefits:
- Low guarantee fee;
- Lower interest rates; and
- Reduces cost of obtaining financing facilities
The Malaysian government has recognised this need and responded with a Bumiputera financial schemes for Bumiputera-owned businesses and entrepreneurs across a wide range of industries. One of the assistance that was announced is an additional allocation for government guarantee under SJPP by as much as RM 10 billion, which include special allocation for Bumiputera entrepreneurs.
If you are a Bumiputera entrepreneur who is looking to expand your business, you may apply for the Working Capital Guarantee Scheme- Bumiputera (WCGS-B) under SJPP. The purpose of this scheme is to assist Bumiputera SMEs to grow and expand their business with financing of up to RM3.0 million
As part of the Government Guarantee Scheme, the government will provide a guarantee of up to 80% credit facilities to the participating financial institutions. Currently, SJPP offers 6 schemes with 21 participating financial institutions from now till 2035. To find out more about SJPP and their Bumiputera scheme, you can contact us at email@example.com.