IMMIGRATION PROCEDURES
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Best Business Loan or Grant for Every Type of Business
Learn about each Business loan and Government Grant product available on the SMI Funding Smart Seach. Check out the Grant Eligibility section of Learn Grants for details on how eligibility is defined and what types of funding you or your organization can generally apply for.
Find your Business Loans / Grant
The world of small business lending is no longer just traditional term loans. There are dozens of products for borrowers of all types. From CGC loans Contract FInancing.
SMIFunding's marketplace covers many different business loan/Grant products—offered by a variety of our government agencies or bank. To make sure you get the best possible rate, we recommend that you apply for every product you qualify for
There are many types of business loans...
Find out which business loan you qualify
CGC Loan scheme
The Credit Guarantee Corporation is a key institutional arrangement in facilitating greater access to financing by the SMEs. By providing guarantee to loans obtained by SMEs, CGC addresses one of the main constraints of SMEs that is, the lack of collateral.
Maximum Loan Amount
RM50,0000 - RM5,000,0000
Loan Term
3-10 Years
Interest Rate
6% - 14% p/a
Speed
1-3 Months
Term Loan
A term loan is probably the most common form of business loan, so it’s pretty easy to understand.
You borrow a fixed amount of money – often for a specific purchase you’re making for your business – and pay the loan back over a fixed term, most often at a fixed interest rate.
Maximum Loan Amount
RM50,000 to RM2,000,000
Loan Term
1-5 years
Interest Rates
4%-10%
Speed
2- 3 Weeks
Microfinance / Microcredit
Microcredit is the extension of very small loans (micro loans) to impoverished borrowers who typically lack collateral, steady employment and a verifiable credit history. It is designed to enable them to start a small business (micro enterprise).
Maximum Loan Amount
RM5,000 - RM50,000
Repayments
6 months to 5 years.
Interest Rate
6.38%-11.26% p/a
Speed
1 Weeks
Business Trade Line
Another option to provide short term financing is trade financing. Some of the common trade financing facilities provided include:
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Letter of Credit (LC)
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Bills of Exchange Purchased (BEP)
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Trust Receipts
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Foreign Exchange Contracts
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Bankers Acceptance
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Export Credit Financing
Maximum Limit Amount
RM50,000 - RM2,000,000
Repayments
Flexibility to settle early, partly or fully
Interest Rate
2% - 8% p/a
Speed
2-3 Weeks
Startup Loan for business
The CGC, investors and “family and friends” are all options for your startup business to find working capital. But, are you interested in securing a more traditional loan to help grow your business? On the Fundera Marketplace, we have two small business startup loan products that can help you get the capital you need to grow. These two products (-StartUps Loan and Personal Loan) are a more traditional form of capital and a great option if you have a strong personal credit report, and are looking to start building on your business credit, too!
Maximum Loan Amount
RM50,0000 - RM5,000,0000
Loan Term
3-10 Years
Interest Rate
6% - 14% p/a
Speed
1-3 Months
FACTORING
Facing a problem because your clients pay in 30 to 120 days? Need to get paid sooner? Most new and growing businesses can’t afford to wait up 60 or 90 days to get paid. There are supplier and payroll commitments that must be met. But often, securing the funds to meet these obligations is difficult.
If your company or the directors is blacklisted by Ctos and Ccris, they still qualify to apply factoring.
Maximum Advance
50% to 90% of the total invoice amount.
Repayments
When customer pays the invoice, you receive the remaining 10-50% reserve amount Minus the fees.
Factor Fee
3% - 6% p/a from outstanding
Speed
1-3 Days
TRRF Loan scheme
The Targeted Relief and Recovery Facility (TRRF) is an allocation of RM6 billion by Bank Negara Malaysia that aims to provide relief and support recovery for eligible SMEs in the services sector.
The facility is for eligible SMEs whose revenues have been affected by the recent enhanced and conditional movement control orders, the central bank said in a statement.
Maximum Loan Amount
RM500,000
Loan Term
1 Year - 7 Years (6 mths moratorium)
Interest Rate
3.5% p/a
Speed
3-4 Weeks
Contract Financing
Contract Financing which is specifically tailored for a specific project or contract..Financing which is specifically tailored for a specific project or contract. The financing package varies in accordance to the type of contracts i.e. construction (civil, infrastructure), supply, services etc.
The financing package provides financial support through every stage of the project.
Maximum Contract Amount
No minimum or maximum amount of financing
Repayments
Can be OD,Trade Facilities or Bank Guarantees
Interest Rate
Base on facilities
Speed
1-3 Months
Short Term Loan
A short-term loan is a smaller sum of money you pay back, plus interest, with daily payments over 3 to 18 months.
Short-term loans are designed to meet short-term financing needs. They can be a flexible financial tool to better manage cash flow, deal with unexpected needs for extra cash, or take advantage of an unforeseen business opportunity.
Maximum Loan Amount
RM5,000 - RM300,000
Repayments
3 Months - 18 Months
Interest Rate
10% - 18%
Speed
3 -5 Days
Personal Loan
A lot of people don’t know that you can actually use a personal loan for business purposes. Personal loans are especially helpful for new businesses that don’t have a long financial history to show lenders.
Personal loans can often have lower interest rates than some business loans, making it a great option for young companies looking for financing to grow their business.
Maximum Loan Amount
RM5,000 - RM250,000
Repayments
1 - 7 Years
Interest Rate
Starting from 6% p/a
Speed
As little as 3 days
OVERDRAFT
Allows you to draw additional funds quickly and conveniently from your current account when you require it. Raising additional Capital for running a business or making investments is now fast, simple and convenient.
Here's what Overdraft offers you:
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No fixed repayment schedule.
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Interest charged only when funds are used.(However, will charge you 1% p.a. commitment fees on the unused amount)
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Easy to use
Maximum Limit Amount
RM50,000 - RM1,000,000
Repayments
No fixed repayment schedule, normally is yearly review.
Interest Rate
BLR+ (7% - 10% p/a)
Speed
3-4 Weeks
GRANT
The government of Malaysia offers grants to citizens for purposes of establishing and running their small businesses. However, not everyone out there is eligible to qualify for these grants. A government grant has certain pre-qualifications attached to it just like the case is for a bank loan. The good thing about grants is that there are either low or no interest tags attached to them.
There are many types of government grants offered by various government agencies open for application.
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MSC (Multimedia Development Corporation)
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MATRADE (Malaysia External Trade Development Corporation)
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MBC (Malaysian Biotechnology Corporation)
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Ministry of Tourism Malaysia
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Shell Malaysia Sustainable Development (SD) Grants scheme
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CIP (Cradle Investment Program)
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MTDC (Malaysian Technology Development Corporation)
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MOSTI (Ministry of Science, Technology and Innovation)
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MDEC (Multimedia Development Corporation)
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NEF (New Entrepreneur Foundation)
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SME Corporation
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MPC (Malaysia production Coorporation
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Pitcom Venture
Maximum Limit Amount
RM100,000 - RM5,000,000
Repayments
Non
Interest Rate
Non
Speed
4-5 Months