BizJamin-i Scheme

Eligibility Criteria

  • A company registered in Malaysia, is Malaysian-controlled and Malaysian-owned with at least 51% shareholding.
  • Meet the SME Corporation Malaysia’s definition of an SME (for details, please click here).
  • All viable business involved in ‘halal’ activities.

Maximum Financing Limit

Financing of up to RM15.0 million

Financing Facilities Covered

  • Term Financing-i
  • Cash Line Facility-i
  • Letter of Credit-i
  • Trust Receipt-i
  • Bills Purchased-i
  • Bank Guarantee-i
  • Export Credit Refinancing-i (ECR-i)
  • Accepted Bills-i
  • Shipping Guarantee-i
  • Hire Purchase-i
  • Leasing-i
  • Any other financing facilities determined from time to time by CGC

Financing Rate

The annual profit rate is up to 2% above the Base Financing Rate (BFR) of the financial institutions.
*Financial institutions are free to quote the profit rate if the guarantee cover is 50% or less.

Participating Financial Institutions

Participating Development Financial Institutions (DFIs) and Islamic Banks

Guarantee Coverage

CGC guarantee coverage ranges between 30% and 90% subject to the following:-

  • Unsecured Portion – Up to 80% (a maximum cover of RM5.0 million)
  • Secured Portion – Up to 90% (no capping imposed on secured portion)

Guarantee Fee

  • Unsecured Portion – 0.75% to 4.00% per annum
  • Secured Portion – 0.50% to 3.20% per annum

SMEs with higher risk profiles will be charged higher guarantee fees, whereas SMEs with lower risk profiles will be charged lower guarantee fees. The range observed is to match the customer’s credibility in terms of risk rating with the pricing of the guarantee.

i) Payment of Guarantee Fee

  • New Letter of Guarantee (LG) – Payable upon request for LG by Financial Institution but subject always to full payment of the Guarantee Fee
  • Anniversary LG – Payable on or before LG anniversary date, together with the annual Guarantee Fee

ii) Refund of Guarantee Fee

  • Refund of Guarantee Fee will be pro-rated on monthly basis and applicable for LG cancelled or amended by CGC based on the unutilised period of the LG.
  • The utilised period is calculated from the month of LG/anniversary LG until the month of receipt of cancellation/ approval of amendment by CGC.

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BizJamin Bumi-i Scheme

Eligibility Criteria

  • A company registered in Malaysia, is Malaysian-controlled and Malaysian-owned with at least 51% shareholding owned by Bumiputera.
  • Meet the SME Corporation Malaysia’s definition of an SME (for details, please click here).
  • All viable business involved in ‘halal’ activities.

Maximum Financing Limit

Financing of up to RM15.0 million

Financing Facilities Covered

  • Term Financing-i
  • Cash Line Facility-i
  • Letter of Credit-i
  • Trust Receipt-i
  • Bills Purchased-i
  • Bank Guarantee-i
  • Export Credit Refinancing-i (ECR-i)
  • Accepted Bills-i
  • Shipping Guarantee-i
  • Hire Purchase-i
  • Leasing-i
  • Any other financing facilities determined from time to time by CGC

Financing Rate

The annual profit rate is up to 2% above the Base Financing Rate (BFR) of the financial institutions.
*Financial institutions are free to quote the profit rate if the guarantee cover is 50% or less.

Participating Financial Institutions

Participating Development Financial Institutions (DFIs) and Islamic Banks

Guarantee Coverage

The guarantee coverage ranges between 30% and 90% with multiple of 5% subject to the following:-

  • Unsecured Portion – Up to 90% (a maximum cover of RM5.0 million)
  • Secured Portion – Up to 90% (no capping imposed on secured portion)

Guarantee Fee

  • Unsecured Portion – 0.75% to 4.00% per annum
  • Secured Portion – 0.50% to 3.20% per annum

SMEs with higher risk profiles will be charged higher guarantee fees, whereas SMEs with lower risk profiles will be charged lower guarantee fees. The range observed is to match the customer’s credibility in terms of risk rating with the pricing of the guarantee.

i) Payment of Guarantee Fee

  • New Letter of Guarantee (LG) – Payable upon request for LG by Financial Institution but subject always to full payment of the Guarantee Fee
  • Anniversary LG – Payable on or before LG anniversary date, together with the annual Guarantee Fee

ii) Refund of Guarantee Fee

  • Refund of Guarantee Fee will be pro-rated on monthly basis and applicable for LG cancelled or amended by CGC based on the unutilised period of the LG.
  • The utilised period is calculated from the month of LG/anniversary LG until the month of receipt of cancellation/ approval of amendment by CGC.

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BizJamin-i NRCC Scheme

Eligibility Criteria

  • A company registered and operating in Malaysia, Malaysian-shareholder(s) must have a minimum of 30% shareholding in the company and is/ are the guarantor(s).
  • Meet the SME Corporation Malaysia’s definition of an SME (for details, please click here).
  • All viable business involved in ‘halal’ activities.

Maximum Financing Limit

Financing of up to RM15.0 million

Financing Facilities Covered

  • Term Financing-i
  • Cash Line Facility-i
  • Letter of Credit-i
  • Trust Receipt-i
  • Bills Purchased-i
  • Bank Guarantee-i
  • Export Credit Refinancing-i (ECR-i)
  • Accepted Bills-i
  • Shipping Guarantee-i
  • Hire Purchase-i
  • Leasing-i
  • Any other financing facilities determined from time to time by CGC

Financing Rate

The annual profit rate is up to 2% above the Base Financing Rate (BFR) of the financial institutions.

Participating Financial Institutions

Participating Development Financial Institutions (DFIs) and Islamic Banks

Guarantee Coverage

CGC guarantee coverage ranges between 50% and 70% subject to the following:-

  • Unsecured Portion – Up to 70% (a maximum cover of RM5.0 million)
  • Secured Portion – Up to 70% (no capping imposed on secured portion)

Guarantee Fee

  • Unsecured Portion – 1.00% to 4.00% per annum
  • Secured Portion – 0.75% to 3.20% per annum

SMEs with higher risk profiles will be charged higher guarantee fees, whereas SMEs with lower risk profiles will be charged lower guarantee fees. The range observed is to match the customer’s credibility in terms of risk rating with the pricing of the guarantee.

i) Payment of Guarantee Fee

  • New Letter of Guarantee (LG) – Payable upon request for LG by Financial Institution but subject always to full payment of the Guarantee Fee
  • Anniversary LG – Payable on or before LG anniversary date, together with the annual Guarantee Fee

ii) Refund of Guarantee Fee

  • Refund of Guarantee Fee will be pro-rated on monthly basis and applicable for LG cancelled or amended by CGC based on the unutilised period of the LG.
  • The utilised period is calculated from the month of LG/anniversary LG until the month of receipt of cancellation/ approval of amendment by CGC.

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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 Malaysia for guarantee cover approval.
  • Approved application for successful applicants will be submitted by CGC Malaysia 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.

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