BizJamin/-i Relief and Adaptation Facility (RAFt) Scheme
Benefits
- Accessible to: All MSMEs seeking financing from the Relief and Adaptation Facility (RAFt) under Bank Negara Malaysia (BNM). The key features of RAFt include adaptation financing, aimed at promoting MSME's flood preparedness and business resilience amid escalating flood risks in Malaysia, and relief financing, intended to alleviate the financial burden of MSMEs affected by floods and to facilitate the resumption of their business operations. Available through major Participating Financial Institutions (PFIs). MSMEs can apply for a CGC guarantee linked to their financing at the PFIs.
- Comprehensive Coverage: Includes Term Financing, Cash Line Facilities, Trade Facilities and more.
Eligibility
- Business Types: Open to Sole Proprietorships, Partnerships, Limited Liability Partnerships, Private Limited Companies and Professional business entities.
- Local Incorporation: Businesses must be locally incorporated or registered in Malaysia, with at least 51% Malaysian shareholding.
- Shariah Compliance: For the Islamic guarantee scheme, based on the Kafalah contract, businesses must maintain Shariah-compliance throughout the guarantee tenure.
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Features
- Purpose of Financing:
a) Adaptation financing - Capital investments and relevant expenses to pre-emptively manage or reduce MSMEs' flood risk and losses (i.e. flood adaptation purposes); and/or
b) Relief financing - Repairs and/or replacement of assets for business use (e.g. plant and machinery) that were damaged by natural disasters and/or Working Capital. - Guarantee Amount: Up to a maximum guarantee amount of RM800k per MSME.
- Guarantee Period:
a) Adaptation financing - Up to 7 years
b) Relief financing - Up to 7 years, including a moratorium period of 6 months on both principal and interest/profit payments, and any additional moratorium period mutually agreed between the MSME and the PFI. - Guarantee Coverage: 80% or up to RM800k per MSME whichever is lower.
- Guarantee Fee: 0.5% per annum.
- Financing Profit Rate: A tiered maximum financing profit rate will be applied, where a preferential financing profit rate will be linked to the take-up of adaptation financing.
Timing
Financing options
Maximum financing profit rate
(inclusive of guarantee fee)
Post-major flood event (as listed by NADMA)
Relief financing only
3.50% per annum
Relief financing and adaptation financing taken together
3.00% per annum
Relief financing taken by an MSME which has previously taken up adaptation financing/has an outstanding adaptation financing
Anytime
Adaptation financing
- Guarantee Fee Refund: Processed on a pro-rated monthly basis upon receipt of termination notice or amended Letter of Guarantee by CGC Malaysia.
Contact Us
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