Where to find grants for SME in Malaysia?
For some entrepreneurs, they need some money to fund or scale up their businesses.
There are several ways to get financial aid for your business. One of them is government grants for SME Malaysia.
Scroll down to see the list of SME grants you can apply.
The SLSSS is aiming to provide financing aid for start-up enterprises and service sectors who want to enhance their services to higher value.
It is a financial loan for CAPEX and working capital, with an interest rate of 4% per annum for SMEs and not exceeding RM5 million.
Eligibility Specification:
The SLSME is assisting loans for start-up enterprises and existing companies including to support fixed assets and working capital financial.
Eligibility Specification:
Focusing on sectors of areas such as Manufacturing, Manufacturing-Related Services and ANY Services, but EXCLUDE insurance and financial services.
The financing amount given under the scheme depends on the type of finance provided – Project, Fixed Assets, Working Capital and IT Hardware / Software.
The financial minimum amount is RM 50,000, but the interest rate is 4% per annum yearly.
Project: RM5 millions (maximum)
Fixed Assets: RM5 millions (maximum)
Working Capital: RM3 millions (maximum)
IT Hardware / Software: RM 50,000 (maximum)
The TUS or also known as graduate entrepreneurs’ scheme is providing loans to these fresh entrepreneurs to keep off with their start-up business.
By this way, more people would be interested to start the business.
The fund loan given by the scheme depends on the nature of enterprises but the loan funding for start-up is usually between RM 20,000 to RM 250, 000.
Meanwhile the interest rate of the borrowers’ repayment is 4% within ten years given.
Eligibility Specification:
The main purpose of loan funding by YEF is to help the young entrepreneurs to start their new business and fulfil the needs for their existing enterprises.
Nevertheless, YEF is focusing more on the Shariah Financing concepts. For instance; Bai’ Inah, Bai’ Bithaman Ajil, Ijarah, Ijarah Thumma Bai’ and Bai’ Istina.
Margin of Financing for:
Still, the financials are limited to the range of RM20, 000 to RM100, 000, but gain the net profit rate around 5% per annum.
Eligibility Specification:
The TPPA scheme is to provide a fund loan for the public transportation business including the commercial bus and taxi operators in Malaysia.
The scheme is financing individual entrepreneurs, companies, cooperatives and firms that match their services towards public transportation.
Nevertheless, the financial is only limited to a certain amount (also depends on what kind of services offered by the company), which varies from RM30, 000 to RM 10 millions.
Eligibility Specification:
The financing loan period varies according to type of transportation. As for the bus, it is up to 10 years, except for the 8-year express bus.
Addition to that, LPKP has fixed the financing period, which cannot exceed the remaining life of the transportation.
The BEEP is aiming to help build and develop the Bumiputera SMEs throughout the integrated assistance including reinforced the SME’s core business.
Eligibility Specification:
A loan fund that helps the SMEs in the country after unfortunate incidents such as natural disasters affected their enterprise.
The fund only reaches an amount of RM100, 000, which covers the disaster such as floods, drought, beach erosion, etc.
The SMEEF also helps the business to rebuild back after the disaster events, such as;
No worries, SMEEF will lend their help by providing the working capital expenses and aid you to replace the broken / damaged equipment with the brand new ones.
Eligibility Specification:
The BSF has been established to help fund new start-up technology-based companies, following to match their main objectives.
Their objectives are to remove unnecessary obstacles and develop a growth in the business in the company.
Therefore, they provide the fund raising to these companies with the amount up to RM5 million or 90% of total cost of project. This funding period lasts for 6.5 years only.
However, 5 years are given for repayment period instead.
Eligibility Specification:
The TEKUN Financing scheme helps to provide a loan fund or programme to aid youths who get involved in Farming and Agro-based Industries.
Two financing schemes conditions provided by TEKUN Financing, which are:
Still, the repayment period is in between 6 months to 10 years and the entrepreneurs are required to pay TEKUN Financing from a total of 4% of the loan per annum throughout the loan period.
Eligibility Specification:
The best thing about TEKUN financing, the entrepreneurs will be protected under Loan Insurance and Life & Accident Insurance set by TEKUN Nasional within the loan period.
The SKPM mostly funds loans towards who wants to develop more on the Food Business background of Food Industries in Malaysia.
Thus, they have been trying to help food production of SMEs to enhance their productivity and reach the business to a higher market level.
Eligibility Specification:
With this scheme, SMEs gained loan up 100% according to their total project cost, which exceeded RM500, 000.
Besides, the fund is fixed at 3.6% per annum in the duration of 8 years.
The SPED collaborated with other financing programmes with the Ministry of Rural Development while aiming to help Bumiputera SME entrepreneurs in rural areas.
The entrepreneurs have a huge opportunity to expand and develop their business to the next level with this fund.
The financial loan for SPED is financial concept based on:
SPED focusses on giving loan up to 90% for Fixed Asset and up to 100% for the company’s working capital for 3 to 7 years.
Thus, the financial limit only ranges up to RM 250, 000 to RM 500, 000 per application. As for the net profit, it rates for 5% per annual.
Eligibility Specification:
PUMA is a scheme that provides young Bumiputera to begin their business while scheduling them under several training programs.
These programs help these entrepreneurs to develop their entrepreneurial skills and assist them to choose their ways of approaching the business market.
They gave a chance to Bumiputera who wants to start up their business by providing the funds up to RM 100, 000.
The funds will be running for ten years (maximum) and it is based on Shariah concept instead.
Eligibility Specification:
Conclusion
With all of these government grants listed above, you may choose one of them and receive a loan fund to boost your business success.
To approve your SME entrepreneurship loan, lenders need to be convinced with clear cash flow, especially when you are new in business.
When you are starting a business, there are several aspects of the operation you might need to manage properly right from the get go.
Rest assured. Everything is possible when it comes to Slurp! POS Inventory Management.
Now, you can easily analyse your budget, tracking the sales report and finally see your own cash flow.
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