Glass Buildings

STARTUP LOAN FOR BUSINESS
 FOR UPTO RM300k with INSTALLMENTS OF 7 years
'AFFIN STARTUP LOAN'

Overview​

This is for your startup business to find working capital. But, are you interested in securing a more traditional loan to grow your business? On the SMI Funding Smart Search, 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

RM300,000

Repayments

7 years

Interest Rate 

6.8% to 7%

Speed 

1 Month

RELAXED REQUIREMENTS

* A Company must has been in operation for the last 6 months

* Applications are accepted for upto RM300k and validity of installments can

  be stretched to 7 years

* No collatoral is required

* SJPP Guarantee Fee paid by Affin Bank

* NO Lock in period

* Rate is based on BLR & incase of conversion in flat rate it would 

  be around 6.4% to 8.3%

* Loan amount subject to customer's grading acquired from CBM, from

   RM100k to RM300k

 

PREREQUISITS

* Applicant must have tenancy agreement and utility bills for office 

   (For warehouse or restaurant applies same) except online trading on

  Shopee/Lazada
* All Guarantors must have 12 months CCRIS record

* Guarantor must have current month 0 MIA or maximum 3 times 1 MIA or 2

   times 2 MIA

Business in operation between 6 to 24 months

* Minimum loan tenure from 36 months to maximum 84 months

ELIGIBILITY

  • For Sole Propriotership, Partnership, or Private Limited Company
  • Business classification as SME based on SME definition as per National SME Development Council (NSDC)
  • 100% Malaysian owned & controlled business entities  registered under SSM and exception shall be given to Singaporean ONLY with Malaysian shareholding of at least 51% (Non NRCC).

START UP Loan

i-StartUps Loan provides a channel for a new businesses devoid of track records or collaterals, as start-ups play an important in the country's economic growth.

 

It is imperative that new businesses stay competitive in order to be able to focus on business growth right from the beginning. As such, the i-StartUps Loan will be reasonably priced to assist in the management of cash flows of the SMEs during this vital period of growth.

Product description:
 

Eligibility Criteria

  • For Sole Propriotership, Partnership, or Private Limited Company
  • Business classification as SME based on SME definition as per National SME Development Council (NSDC)
  • 100% Malaysian owned & controlled business entities  registered under SSM and exception shall be given to Singaporean ONLY with Malaysian shareholding of at least 51% (Non NRCC).
  • Must be SME per National SME Development Council’s (NSDC) definition.
  • Business registered in Malaysia and is Malaysian-controlled or Malaysian-owned (at least 51% shareholding)
  • Business is at least licensed by a local authority
  • Business has been licensed and/or in operations for less than 3 years
 

Financing Amount

Min – RM50,000

Max – RM300,000

* Depending on eligibility of each customer

Type of Facility

 

Term Financing only

* For the purpose of working capital and/ or asset acquisition

Financing Rate

 

Min – BFR + 0.30%

Max – BFR + 1.65%

* Prevailing BFR is based on Maybank Islamic BFR and is subject to further changes

 

Tenure

Maximum of seven (7) years

 

Application Procedures

Please contact us how to start the process, you can whatsApp or call us now we are here for you.

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